14 big landlords used software to collude on rent prices, DC lawsuit says::Suit claims employees were told pricing outside the algorithm was “unacceptable.”
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Theoretically that is illegal.
Penalties for this should be severe. Like, impounding company assets and destroying them.
The fine of 1% of last quarter’s profits will ensure they learn their lesson.
Turn their properties into a coop and give the shares to the tenants
Take one of the owner’s private jets away.
Corporate death penalty
Yup I got hit with this nonsense… Right during the pandemic when I had no money… $525->$800
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Gas prices. If price fixing is illegal then why is every single station the exact same price?
To be fair, in perfect competition prices for a homogenous product would be the same everywhere.
But the reason for it in reality is that tacit collusion is not illegal (and even if they break the rules and make deals, which happens, it is hard to prove. but you don’t need explicit deals for prices to end up being the same). there has been many studies done on the gas market in partucular.
Costco and Sams have a never-ending gas price battle going on where I live and their gas prices are always 15-20% less than any other place in town. $3.39/gl at all stations except for those two and they’re $2.99/gl right now. It’s been this way for years.
Lucky.
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Starting your car is with 7 seconds of idling, and this somehow magically applies to motors of any displacement or intake type! If you’re gonna sit for more than 7 seconds, shutting your car off is the economical choice.
Same thing is happening in Seattle and likely everywhere else.
They should be launching lawsuits like this in every state. Hopefully if this suit goes well, it helps bring rents back to Earth from where they’ve skyrocketed (though not holding my breath).
I have hope for my place, we have to renew our lease soon. My landlord is a decent guy and he has trouble with his email so I hope he couldn’t figure that software out lol
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Guys pretty old school so we send it to him and whenever we need repairs he comes to fix it. He’s a good dude. Is a true historian and loves this house, when we were touring the place he told us about every person who owned it after it was built in 1864
That being said I know even the best can’t resist money, so I can only hope
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Oh gee. All this time, I thought it was coincidence that prices went up across the country in unison by identical amounts.
