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#pricegouging

2 posts2 participants0 posts today

"The day after President Donald Trump announced his sweeping “Liberation Day” tariffs, pricing guru Craig Zawada held an urgent summit for his clients. The global economy was roiling with anxiety, and stocks were in a tailspin, but Zawada had a more hopeful message to impart: For the businesses deploying his company’s “smart pricing” software, this was a rare opportunity.

“There is perhaps more of a window to make changes to your pricing than there has been before,” Zawada said. Consumers, he explained, were bracing themselves for tariff sticker shock: “Customers expect change.”

“Now,” he said, “is the time to take advantage.”

Zawada works for PROS Holdings, a company that provides software services helping companies price their products, tailored in particular to airlines. He’s part of a cottage industry of “pricing optimization” consultants who, using lessons learned from pandemic price increases, are advising companies across industries on how to hike prices in response to tariffs or even just the threat of tariffs — and then keep them high.

Republican Federal Trade Commission (FTC) chair Andrew Ferguson, the nation’s top antitrust cop, has been warning companies that enforcers are prepared to take action against tariff profiteering. Yet he has effectively given the consultant class a “green light,” as one former FTC official told The Lever, by rolling back an inquiry scrutinizing their practices."

levernews.com/how-trump-is-hel

The Lever · How Trump Is Helping Price Gougers Exploit His TariffsBy Katya Schwenk

Guardian: Cal-Maine’s profits more than tripled compared with the same quarter last year – and are nearly eight times as high as at the start of the bird flu outbreak in February 2022, according to financial results published on Tuesday. The company, which produces 20% of the eggs eaten in the US, made $1bn in windfall income in the first three-quarters of the financial year – the profits extracted after accounting for production, processing and transport costs.

On Tuesday, Cal-Maine said that its sales almost doubled to $1.42bn in the fiscal third quarter, which ended on 1 March, primarily down to raising egg prices, which has hurt consumers who rely on the once affordable protein source. But the company’s shares then fell by more than 4% after acknowledging that it was being investigated by the justice department’s anti-trust division. Mississippi-based Cal-Maine said it received notice of the investigation into egg price increases last month and that it was cooperating with the investigation.

By VOTING for DEMOCRATS We Make OUR LIVES BETTER!

Democratic lawmakers across four states have introduced bills this year to stop what’s been dubbed “surveillance pricing” — the term for when a business charges customers different prices for the same product depending on their personal information. #economy #Democrats #pricegouging

washingtonpost.com/politics/20

The Washington Post · Analysis | States eye bans on ‘surveillance pricing’ that exploits personal dataDemocratic lawmakers in California are latest to try outlawing personalized pricing amid a nationwide push by consumer protection advocates.

@GossiTheDog pretty shure #Apple's #Greedflation will not result in their #iPhone|s and other products to be sold #cheaper in the #EU, but instead they'll do #PriceGouging even harder!

  • And because #Fanboys are just beyond help, they still gonna buy that shite regardless!

Or does anyone expect Apple to stop #overcharging for their #AntiRepairDesign|ed products???

  • Hell no, Tim Cook wants to buy himself the dozenth house just from bonuses!!!

Last month I dropped everything on my car insurance that isn't required by law because the premium was becoming unaffordable.

I have a 2017 Toyota Corolla & I drive less than 3K miles a year. I'm retired & live alone. Public transportation is scarce in my neighborhood so it's not an option.

I was just notified that my premium has been increased by 20%. I have nothing on my driving record.

#StateFarm will now charge me $685.40 for 6 months.

#PriceGouging #CarInsurance #Tariffs #Nevada