REVscene - Vancouver Automotive Forum

Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Thread Tools
Old 09-26-2013, 12:49 PM   #1
Timpo's Avatar
Join Date: Mar 2002
Location: ...
Posts: 20,379
Thanked 4,550 Times in 1,368 Posts
9Japanese auto parts makers to pay $740,000,000.00 fine

Japanese auto parts makers to plead guilty, pay $740M in price-fixing plea | CTV News | Autos

Mitsubishi Parts Price-Fixing Targets Ford, GM, U.S. Says - Bloomberg

U.S. fines 9 Japanese auto parts makers in price-fixing probe

The Associated Press
Published Thursday, September 26, 2013 1:48PM EDT
WASHINGTON -- Nine Japanese auto parts manufacturers and two of their executives will plead guilty and pay $740 million in criminal fines for conspiring to fix the prices of more than 30 products sold to many of the world's largest automakers operating in the U.S., the Justice Department announced Thursday.
The action is the latest development in the largest criminal investigation the Justice Department's criminal division has ever carried out. To date, it has resulted in charges against 20 companies and 21 executives, and the companies have agreed to pay $1.6 billion in criminal fines.
From steering assemblies to seat belts, the price-fixing conspiracies went on for more than a decade and affected more than $5 billion in auto parts sold to U.S. car manufacturers and installed in cars sold in the United States and elsewhere. In all, more than 25 million cars purchased by American consumers have been affected by the illegal conduct.
"As a result of these conspiracies, Americans paid more for their cars," Attorney General Eric Holder told a news conference. Holder said American companies such as Chrysler Group LLC, Ford Motor Co. and General Motors Corp. were affected, as were U.S. subsidiaries of Honda Motor Co., Mazda Motor Corp., Mitsubishi, Nissan Motor Co., Subaru and Toyota Motor Corp.
The government will continue to "check every hood and kick every tire" to end the price fixing, said Holder.
Company executives used code names and met face to face in remote locations in the U.S. and Japan to rig bids, fix prices and allocate the supply of auto parts, the government alleged.
Seventeen of the 21 executives charged so far have been sentenced to serve prison terms in the U.S. or have plea agreements calling for significant time behind bars.
The companies charged Thursday are Hitachi Automotive Systems; Mitsubishi Electric and Mitsubishi Heavy Industries; Mitsuba; Jtekt; NSK; T.RAD; Valeo Japan and Yamashita Rubber.
Timpo is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 09-26-2013, 12:55 PM   #2
My homepage has been set to RS
Join Date: May 2011
Location: Vancouver
Posts: 2,373
Thanked 1,299 Times in 535 Posts
Couldn't have just put it as $740 million in your title? lol
Posted via RS Mobile
shawnly1000 is offline   Reply With Quote
Old 09-26-2013, 01:18 PM   #3
Head of HR....have a seat on that couch
fliptuner's Avatar
Join Date: Jan 2003
Location: Coquitlam
Posts: 20,336
Thanked 13,195 Times in 3,597 Posts
I wonder if they'll also be charged in Canada, based on the Competition Act.

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad

fliptuner is online now   Reply With Quote
Old 09-26-2013, 01:29 PM   #4
Diagonally parked in a parallel universe
604STIG's Avatar
Join Date: Jul 2012
Location: Burnaby
Posts: 1,405
Thanked 566 Times in 299 Posts
Originally Posted by shawnly1000 View Post
Couldn't have just put it as $740 million in your title? lol
Posted via RS Mobile
Because Timpo.
604STIG is offline   Reply With Quote
Old 09-26-2013, 02:44 PM   #5
I contribute to threads in the offtopic forum
Join Date: Oct 2009
Location: richmond
Posts: 2,834
Thanked 1,485 Times in 568 Posts
hey guys maybe he wasnt sure how many zero's it takes to make a million
Rise Auto Salon

11938 95a Ave Delta
I can be reached VIA text @ 778-232-1465

Oil change special $70 5 liters synthetic oil including OEM filter Fender rolling from $45 per fender
Car Audio:
Focal, Morel, Genesis, Clarion, Scosche, Escort, Compustar, GReddy, Blitz, Tomei, Motul, Endless, Defi, Cusco, Nismo + More

We specialize in:
Custom Car Audio
Race/4x4 Fabrication
Forced Induction
Engine Swaps
General Maintenance
Phil@rise is offline   Reply With Quote
Old 09-26-2013, 02:53 PM   #6
Rs has made me the man i am today!
white rocket's Avatar
Join Date: Apr 2006
Location: Your Moms House
Posts: 3,146
Thanked 2,919 Times in 1,122 Posts
The zeros make the fine look WAY more harsh. LOL!
white rocket is offline   Reply With Quote
This post thanked by:
Old 09-26-2013, 05:22 PM   #7
Even when im right, is still right!
BBMme's Avatar
Join Date: Apr 2002
Location: Vancouver, B.C
Posts: 1,371
Thanked 189 Times in 97 Posts
Lol I seriously thought it was 740 billion!damn I felt stupid for a second haha
Posted via RS Mobile
BBMme is offline   Reply With Quote
Old 09-26-2013, 05:27 PM   #8
Zionism gets my shell hard and slimy
snails's Avatar
Join Date: Jun 2012
Location: in a shell
Posts: 2,580
Thanked 5,905 Times in 1,119 Posts
i like how no one gives a shit about the post/content.. just the title! hahahah

i RS
snails is offline   Reply With Quote
This post thanked by:
Old 09-27-2013, 02:32 AM   #9
Banned (ABWS)?
AzNightmare's Avatar
Join Date: Oct 2004
Location: Vancouver
Posts: 16,919
Thanked 2,133 Times in 1,027 Posts
Damn.... Just a bit mind blown to realize how much 1 billion is.

It's bigger amount than the thread title, and to think there are people that can easily pay off that sum cause they are billionaires.

You often see the words billion this, billion that.

Put that in digits... It's like
Posted via RS Mobile
AzNightmare is offline   Reply With Quote
Old 09-27-2013, 07:24 AM   #10
Cant Stop Modding Fat Cars w/ Cheap Pasts!
StylinRed's Avatar
Join Date: Oct 2002
Location: CELICAland
Posts: 23,046
Thanked 9,234 Times in 3,293 Posts
I wonder what the other companies are as the article notes 20 companies
StylinRed is offline   Reply With Quote
Old 09-27-2013, 08:09 AM   #11
Fathered more RS members than anybody else. Who's your daddy?
Join Date: Aug 2002
Posts: 18,768
Thanked 8,250 Times in 3,275 Posts
So when will the US go after Chinese companies for.......... oh wait, China owns the US, LOLOLOLOLOL.
"there but for the grace of god go I"

substitute the word "god" with Allah, Mohammed, Buddha, Odin, your parents, whathaveyou..........
MG1 is online now   Reply With Quote
Old 09-27-2013, 11:19 AM   #12
I don't get it
entrax's Avatar
Join Date: Mar 2011
Location: Burnaby
Posts: 438
Thanked 560 Times in 143 Posts
so harsh on timpo...he didn't even mention gt-r yet..

but yeh the zeroes do make a point though
entrax is offline   Reply With Quote
Old 10-12-2013, 03:20 PM   #13
NOOB, Not Quite a Regular!
Join Date: Oct 2013
Location: 604
Posts: 29
Thanked 13 Times in 12 Posts
Holy....that's a very, very big fine!
EliteResearcher is offline   Reply With Quote
This post thanked by:
This post FAILED by:

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

All times are GMT -8. The time now is 09:34 PM.

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc. cannot be held accountable for the actions of its members nor does the opinions of the members represent that of