(This post was last modified: 11-27-2016, 10:46 PM by grim.)
(11-27-2016, 09:39 PM)andrewjs18 Wrote: I don't think I'd spend $400 for a shaving razor...at least not one that's still being produced today.
That's a separate question and I can't disagree. Then again I think few people paid the full $299 for V1.
(11-27-2016, 08:26 PM)Marko Wrote: I don't disagree that civil penalties are commonplace but fraud is another thing altogether.
Set aside fines for regulatory reasons. Fraud is everywhere. Mail fraud and wire fraud cases can easily be found but just for education purposes, to understand how widespread this is, some significant examples and there are many more. You might find you can't buy anything.
http://www.therichest.com/rich-list/the-...ines-ever/
Enron $1.5B fine “lying to shareholders, misleading customers, and deliberately withholding power in order to raise consumer prices.”
Johnson and Johnson $ 2.2B fine “marketing the drugs for uses others than those they were licensed”
Pfizer $2.3B fine “guilty of misleading consumers. … A Pfizer sales rep was eventually the one to whistle-blow on the case, lifting the lid on a four year fraud.”
Time Warner $2.4B fine “deceiving its own shareholders”
http://www.marketwatch.com/story/5-of-th...2013-09-27
JP Morgan $13B “Mislead Fannie Mae and Fredie Mac”
http://www.bloomberg.com/news/articles/2...ons-claims
VW $15.3B agreement “ Admitted … to …. rigging environmental tests”
http://www.forbes.com/sites/henrymiller/...1c2ec649a9
Whole Foods “New York City Department of Consumer Affairs (DCA) investigators found last year that the company systematically ripped off unwitting customers by “routinely” overstating the weight of pre-packaged foods–including meats, seafood, dairy and baked goods.”
http://www.nytimes.com/2014/01/08/busine....html?_r=0
L’Occitane
“the commission charged four companies with deceptively marketing weight-loss products, asserting they made “unfounded promises” that consumers could shed pounds simply by using their food additives, skin creams and other dietary supplements. The four companies — Sensa Products, L’Occitane, HCG Diet Direct and LeanSpa — will collectively pay $34 million to refund consumers.”
http://www.nhtsa.gov/About-NHTSA/Press-R...bmw_fined_$40_million_12212015
BMW fined $40M. “The requirement to launch recalls and inform consumers in a timely fashion when a safety defect or noncompliance is discovered is fundamental to our system for protecting the traveling public. This is a must-do,” said NHTSA Administrator Mark Rosekind. “For the second time in three years, BMW has been penalized for failing to meet that obligation.”
NHTSA has fined many car makers going back to Ford and GM
https://en.wikipedia.org/wiki/List_of_la...ettlements
Pharmaceutical Products, Merck, Bristol Myers, and others - Medicare fraud.
https://www.extremetech.com/internet/235...yees-fired
Wells Fargo alleged fraud
https://www.justice.gov/opa/pr/former-mc...government
MCC Construction Company Wire Fraud
http://www.tmj4.com/news/local-news/fbi-...government
Construction fraud and on and on and on. Its everywhere.
You probably can’t find a car to buy or products to buy where some of this hasn’t occurred.
Just saying, picking on this one guy is a bit ridiculous when you look around and see how common misleading consumers, stockholders, really is. Whenever I see this come up in shaving forums, I wonder if the posters really understand how widespread this problem really is. People have died in car because the carmaker decided it was cheaper to pay lawsuits than fix cars (allegedly). https://users.wfu.edu/palmitar/Law&Valua...pinto.html
" Since the benefit of $49.5 million was much less than the cost of $137 million, Ford felt justified in its decision not to alter the product design. The risk,/benefit results indicate that it is acceptable for 180 people to die and 180 people to burn if it costs $11 per vehicle to prevent such casualty rates.
You all are going to worry about this guy? Its peanuts in comparison.