#gouging — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #gouging, aggregated by home.social.
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Air Canada promises next CEO will gouge customers in both English and French
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From the Norwegian Consumer Council:
The Ensh*ttifcator
https://vimeo.com/1168468796 -
Oh great, I realized today is #BellLetsTalk, or as I call it, Let’s all #bootlick a corporation that makes our #mentalhealth worse by price #gouging your phone bill day. I see less and less people support them every year and I can see why…
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Anyone who regularly gets Coles orders delivered keep an eye on your delivery fee in the online receipt.
It seems Coles have started charging incorrect amounts on the delivery fee you selected at checkout (so when you select $6 delivery type you get charged $8+ for no apparent reason), I've just brought this up with Coles Support and they credited my account for 4x over-chargings over the last month or so..
Doesn't sound a lot till you realise they're probably doing it to ALL customers, if they do this same tactic to 500,000 customers that's $1,000,000 in overcharged fees..
#Coles #Theft #Gouging #Groceries #Australia #Shopping #Food
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Price increase of ~15% at podiatrist = decrease in the number of visits annually. Simple.
I can do math.
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After gouging the most vulnerable for years, banks are finally being forced to repay $93 million to low-income Aussies. But no execs fined, no systemic change—just PR damage control. Corporate greed always gets a free pass.
#auspol #banking #inequality #costofliving #corporateaccountability
#greed #gouginghttps://www.sbs.com.au/news/article/banks-to-refund-93-million-to-low-income-customers/nk4xrg1ah
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Delta’s #AI #spying to “jack up” prices must be banned, lawmakers say
One week after #Delta announced it is expanding a test using #AtificialIntelligence to charge different prices based on customers' personal data—which critics fear could end cheap flights forever—#Democratic lawmakers have moved to ban what they consider #predatory #surveillance pricing
Reps. Greg Casar (D-Texas) and Rashida Tlaib (D-Mich.) announced the Stop AI Price #Gouging & Wage Fixing Act
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14 USD for a bag of Reese’s pieces. I will never pay this. I could have infinite money, gazillions of dollars and I’ll never pay it. It will NEVER happen. #price_gouging #gouging #riggedeconomy
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Representative Rashida Tlaib of Michigan and 13 colleagues wrote to the CEO of the supermarket behemoth #Kroger in November about electronic price tags (often called #electronic #shelf #labels or #ESLs ).
These digital displays allow companies to change prices automatically from a mobile app.
Tlaib warned that this so-called “#dynamic #pricing” permits retailers to adjust prices based on their whims.
Just as #Uber raises prices during storms or rush hour, retailers like Kroger use ESLs to adjust prices based on factors like time of day or the weather.
Supermarkets could conceivably mine a shopper’s personal data to set prices as high as possible.
“My concern is that these tools will be abused in the pursuit of profit, surging prices on essential goods in areas with fewer and fewer grocery stores,” Tlaib wrote.
In August, Senators Elizabeth #Warren and Bob #Casey wrote to Kroger raising similar concerns about #price #gouging.
Noting that the company has already implemented the technology in hundreds of stores across the county, they warned that
“ESLs may help Kroger extract maximum profits from consumers at a time when…high grocery prices are a leading concern among Americans who are concerned about inflation.”
Warren and Casey also voiced concern about Kroger’s partnership with Microsoft to install #facial-#recognition technology in stores,
which could be used to identify individual customers:
When a shopper approaches the shelf, she would see a price calibrated specifically for her.
The next shopper might pay a different amount based on their profile.
Retailers could use shopper data to charge higher prices to those who can afford to pay more, but since stores do not have to disclose who is making pricing decisions or why,
the senators worry that shoppers on a budget are particularly vulnerable.
“It is outrageous that, as families continue to struggle to pay to put food on the table, grocery giants like Kroger continue to roll out #surge #pricing and other corporate #profiteering schemes,” they wrotehttps://www.thenation.com/article/society/retail-grocery-automation-esl-kroger/
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Never forget: the supermarkets are not our friends.
#News #Australia #Woolworth #FUCKWOOLWORTHS #supermarket #gouging
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When one year’s sales matches a full three decade research budget,
#price #gouging is clearly afoot.And that’s the case for Novo Nordisk A/S,
-- maker of sister GLP-1 drugs #Ozempic (type 2 diabetes, T2D)
and #Wegovy (obesity).In September, Bloomberg estimated that the two drugs would bring in $65 billion in sales by the end of 2024.
The entire research budget for the past three decades is $68 billion, with the company stating that its R&D budget for 2023 was only $5 billion or about 7% of sales in 2024.
News reports note that Novo Nordisk charges US patients about $1,000 per month for Ozempic
and almost $1,400 for Wegovy.Currently, insurance provides coverage when described for T2D but not obesity.
Given that obesity is a risk factor for T2D, this decision seems shortsighted; but that’s for another day.
In its home country of Denmark, Novo Nordisk reduced the price for Ozempic under governmental pressure by a third.
It’s now costs the government $130 a month in Denmark for patients with T2D.
Wegovy is not covered by the state health care plane and would cost Denmark patients $365 out of pocket per month.
Ozempic price in Germany? -- $92 a month.
💥That’s 10-fold price premium for Ozempic in the US when compared with Germany.
👉Yet researchers estimate that Ozempic could be produced for $5 a month, or less, including a profit margin.
⚠️This is an oligopolistic market, and as such it should be regulated.
Three firms — Novo Nordisk, Eli Lilly, and Sanofi — “control more than more than 90% of the global insulin market.”
These GLP-1 drugs fall into the insulin market due to their impact on diabetes;
many patients are able to reduce or stop insulin when taking Ozempic
https://themoderatevoice.com/past-time-to-regulate-big-pharma-novo-nordisk-profits-in-2024-are-obscene/ -
When did a basic drive-thru car eash get to be $12??
(lookinatchew Zips) -
"The industry says providing deeply affordable housing is not its job."
"but most of its real estate business is in residential, so a large chunk of the profit comes from rental income."
#HousingCrisis #gouging #homelessness
https://www.cbc.ca/news/financialized-landlord-higher-rents-canada-1.7307015 -
This could be very good for #KamalaHarris.
#Inflation is a global phenomenon & not in the hands of any one leader. But there is consensus among the world’s top economists that the #USeconomy, under the #Biden admin has by far done the best & is in part responsible for averting a global recession.
Nevertheless, Americans’ #vibenomics have been very unforgiving of Biden & #Harris despite action on #gouging, #drug #costs etc.
#InterestRates decreasing 2 months before people vote may help.
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Inflation has been slowing markedly over the past year,
and is now nearly back to its pace before the pandemic.The Consumer Price Index climbed 2.9 percent in the year through July, data this week showed, the first time inflation has dipped below 3 percent since 2021.
As economists revisit why inflation reached such a rapid pace at its peak, some point to #price #gouging.
It is clearly the case that 🔸corporate profits picked up sharply during the pandemic.
And throughout 2022 and much of 2023, 🔸companies regularly talked about how much new pricing power they had,
and how 🔸they were trying to keep customers buying more “premium” products at heftier price points.Researchers at the Groundwork Collaborative in Washington produced a report in January calculating that
💥corporate profit margins accounted for about half of American inflation in the second half of 2023. -
By @RichardJMurphy:
'#KamalaHarris could say, “I am going to defeat the #monopolists who are #gouging profits out of the markets & suppressing #wages in the #US economy.”
She would break #politics in the US free from the power of corporate influence, which is very heavily related to the power of the monopoly-owning #billionaires.
She could require that these companies like #Google operate fairly & appropriately in all markets, including the #UK, the #EU, & way beyond'
https://www.taxresearch.org.uk/Blog/2024/08/07/google-is-a-monopolist-what-next/
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#Journal, Day 1435
Thursday, 22 February 2024
Ukraine War: Day 730
Hamas-Israel War: Day 138
Mass shootings in the USA in 2024: 55 -
@gemelliz #immoral #capitalism #gouging it’s absolutely sinful when some workers still earn $15 an hour.
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Former #ACCC commissioner #AllanFels' #ACTU commissioned report shows recent #CostOfLiving #inflation is largely due to price #gouging: https://www.abc.net.au/news/2024-02-07/allan-fels-price-gouging-report-cost-of-living-crisis/103431866 #australia #economy #economics
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Rishi Sunak is STILL lying to you about inflation. Your wages aren’t responsible for it | Vox Political
https://voxpoliticalonline.com/2023/07/28/rishi-sunak-is-still-lying-to-you-about-inflation-your-wages-arent-responsible-for-it/#Rishi #Sunak #inflation #employee #pay #price #gouging #corporate #profit #privatised #utility #energy #British #Gas #ToryLiar #ToryScum
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While Republicans are blaming Democrats for creating #inflation by pumping too much money into the economy through #social #welfare programs, The Wall Street Journal yesterday embraced the argument that a key factor in inflation has been #price #gouging by corporations.
A #WSJ piece by #Paul #Hannon noted that businesses are boosting their #profit #margins, confident that #consumers will blame supply chain issues and higher energy prices rather than the companies #padding their #profits.
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I ventured out today to replenish some items. One of the stops was at the local CVS to pick up some Pepcid Ac 50 capsules for my elderly neighbor. They cost $24, is it me, or is that an insane price? #Prices #overcounterdrugs #drugs #drugstores #economy #inflation #costofliving #gouging
