The largest criminal antitrust investigation in the history of the Justice Department just got larger. It has nothing to do with telecommunications or giant mergers or any exotic items, though; it’s all about auto parts. A worldwide price-fixing and bid-rigging conspiracy related to those auto parts has resulted in 27 guilty pleas and over $2.3 billion in fines — and the investigation is still underway. [More]
Ever heard of price-fixing chocolate? How about fish or rubber shoes? Those are just a few of the price-fixing schemes found by competition authorities in a record-breaking year of anti-trust abuse. [More]
While the House Committee on Oversight & Government Reform was busy raking Toyota’s chief executives over the coals in Washington, D.C., on Wednesday, Federal agents in Detroit were going all Untouchables-like at the offices of three auto parts suppliers, including one company owned in part by Toyota. [More]
AutoZone is recalling 140,000 faulty Valucraft booster cables because the clamps were assembled incorrectly, “resulting in reverse polarity and causing an electrical shock and explosion hazard,” according to the CPSC. The official statement says that “AutoZone has received reports of four incidents of reverse polarity that resulted in minor property damage.”
“They always get you on the floormats.” Pricing out a car online before visiting a dealership, and seeing the range of options available, is a no-brainer. But before you drop the coin on options like floormats, mudflaps, trunk nets, or whatever other easy-installation options strike your fancy, check eBay. Auto dealerships’ parts departments are actually selling the same items on eBay, at a discount to the marked-up rates they charge new-car buyers.