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    ACCC Says Fine to Coles for Misleading Consumers Should Be Reduced From $150 Million to Just $200 Million
    Australia

    ACCC Says Fine to Coles for Misleading Consumers Should Be Reduced From $150 Million to Just $200 Million

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    27 Comments

    2. RaeseneAndu on

      You are doing it wrong.

      It should be increased to $250 million but then discounted to $200 million to truly capture the “down down” pricing dynamic

    3. Cymelion on

      I wonder how many people have Coles had arrested for stealing from their stores and how many have had to do prison time?

      I also wonder how many CEOs and CFOs would keep making these whoopsies if just one of them faces prison time.

    5. radnuts18 on

      Gee i wonder if the prices will go up if they get a fine. So we would just pay for them trying to rip us off. Seems fair.

    8. kiwiboy22 on

      Coles: “grrr we will fight this tooth and nail!”
      ACCC: “The fine is 200 million”
      coles: “oh sweet as no problem, cost of doing business baby!”

    10. IntentionInside658 on

      Woolworths will inexplicably have a fine for $200m next week, despite there being absolutely no market interference or collusion 

    11. Svennis79 on

      They shouldn’t fine them at all.

      Instead there should be a 5 year ban on executive bonuses, shave option vesting, any c suite share trading, any dividend payments to shareholders

      And forfeit of any tax breaks, subsidies or writeoffs for the next 10 years

      Then everyone can sit back and watch the bloodbath.

      If those are actual repercussions, then pulling dodgy shit violates their fiduciary responsibility to the shareholders.

    12. RelationshipGold7958 on

      Think about it, there are people at one of Australia’s largest and most trusted companies (well you trust them with what you feed your children) that said to each other – fuck the law, let’s run a scam and fuck some people. Can you imagine this at your work?

    19. 3fa on

      I wish there was the level of anger at energy companies and other industries that on scale are far worse than supers. The big 4 banks are rorting the fuck out of people WAY more and make significantly more profit.

    20. magnetik79 on

      Coles are blaming “Global price rises” today in court.

      Surprised they haven’t blamed the COVID19 pandemic yet.😂

    21. lachlanhunt on

      There are a few things the regulators should do to improve this.

      Require that major supermarkets make price history charts available for every product showing the changes over the past 12 months.

      Require discount pricing to be shown with an indicator of the average price over the past 12 months.

    23. salty_lake_222 on

      Fines don’t do shit…. they will just find other ways to pass on the fine to customers.

      make them actually CHANGE SHIT IN THE BUSINESS

    24. ScruffyPeter on

      A friendly reminder that Greens brought in a bill that allows break-up of monopolies for those caught abusing their market power. It failed but here’s who voted on it:

      For: All Greens, All Nationals, Jacqui Lambie Network, David Pocock and Tammy Tyrrell

      Against: All Labor and all Liberal Party

      https://www.aph.gov.au/Parliamentary_Business/Chamber_documents/Senate_chamber_documents/Divisions/Details?id=3363

      That’s why there’s only fines and why those suffering under the monopolistic power are likely to end up paying more.