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The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

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Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#261

Post by metalcrow »

Obscurity4340 wrote: post #256
culi wrote: post #253

Earlier quoted context omitted.

For example, Eight Mile Creek based in NY: - uses flocks of 60 in mobile houses that allow the chickens to feed on grass and bugs outdoors without over stressing a particular plot of land. - Hens have ample indoor and outdoor space. - Chicks are allowed outdoors as early as 2 weeks old. - Hens are provided enrichment and toys. - Beak trimming is not practiced. - Death rates are less than 2% and hens reach their natur…

Its disgusting that, under Capitalism, all these parameters are seen as optional or luxury when they are the normal.

I'm 100% with you on the ethics, but I gotta ask: would this behavior be different under a different economic system? The only 2 reasons I can see it being stopped are either a government enforced regulation, or a public push against it, and neither of these are linked to economics at all.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#262

Post by wat10000 »

readthenotes1 wrote: post #260
wat10000 wrote: post #9

Earlier quoted context omitted.

Surely the relevant question is who was in charge when the punishment was decided, not who was in charge when the misbehavior occurred.

So you give a pass to those who have a job to stop naked conspiracies on price control but don't?

That's fair. I assumed the investigation began earlier, but it looks like it didn't start until 2025. In that case I'd say they both screwed it up. Investigating and then imposing a tiny fine seems slightly worse, since it precludes future action and gives the impression something was done when it really wasn't, but it's not that big of a difference.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#263

Post by culi »

metalcrow wrote: post #261
Obscurity4340 wrote: post #256

Earlier quoted context omitted.

Its disgusting that, under Capitalism, all these parameters are seen as optional or luxury when they are the normal.

I'm 100% with you on the ethics, but I gotta ask: would this behavior be different under a different economic system? The only 2 reasons I can see it being stopped are either a government enforced regulation, or a public push against it, and neither of these are linked to economics at all.

I have to agree. I'm a critic of capitalism but the Soviet Union and others showed us that a (more) planned economy is just as capable of environmental and ecological atrocities as American industry is.

An ethics of stewardship and care has to be fought for either way. In both instances indigenous rights (and the landcare ethics that came with them) were trampled on in the name of "progress"

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#264

Post by uejfiweun »

fragmede wrote: post #245
uejfiweun wrote: post #214

Earlier quoted context omitted.

I think at the end of the day, we're still able to produce really effective technology and products. Like the economy is still functioning. I feel like this is different from the Soviet situation where the problems were more related to product quality and shortages and black markets.

> we're still able to produce really effective technology and products There's a pipeline for that, and that pipeline has been broken, so that'll dry up. It's gonna take some years before we see the effects of it, but it ain't gonna be pretty.

What are you talking about? We're literally in the middle of one of the most transformative technological revolutions we've ever had.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#265

Post by autoexec »

makerofthings wrote: post #242
autoexec wrote: post #175

I've known about Cal-Maine's scammy practices for years. It's difficult to know which brands are associated with a group like Cal-Maine, but I did my best at one point to get a list which I still check before buying eggs. The brands I've been avoiding are: 4Grain Cage Free Egglands Best Farmhouse Eggs Land O'Lakes Fassio Egg Farms Southwest Specialty Eggs LLC Rocky Mountain Eggs Meadowcreek Foods Specialty Eggs LLC R…

That’s a lot of brands. You might have to buy a chicken.

So far I've always been able to find alternatives at the store, although they are usually more expensive. If I'm willing to go on a bit of a drive there are farms that sell eggs directly. I've been meaning to look into them. One of my relatives found a really cool farm not far from her where you can actually see the chickens walking around so you know they are healthy looking and not locked in a cage they can't move in. The whole thing is based on the honor system too, she just take whatever she needs from a fridge, and leaves cash in a little box.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#266

Post by anon7000 »

stickfigure wrote: post #54
Taronar wrote: post #8

Things like this mainly occur in markets with little competition, killing of small business causes issues like this. Much of our grievances are caused by our high level of market concentration.

This was addressed by Matt Levine in today's Money Stuff. The problem was not the presence or lack of competition, it was a technical failure of the market structure. Matt: This is a familiar story and you probably know the ending. There’s a big market (egg producers selling eggs to supermarkets etc.), and there’s a small market (egg producers selling extra eggs to each other on an electronic exchange). The price in…

> Not defending the bad actors here, but there's that whole "show me the incentives and I will predict the outcome" thing. If the market structure rewards manipulation, you get manipulation. The market structure doesn't have to be this way.

I think that’s partly right but it’s much broader than that. The incentives in capitalism in general very frequently don’t line up with what’s best for consumers or even humanity. There are numerous industries where the financial incentive to drive down cost (poor quality products) and increase price (consumer strain) is sooo strong. Far stronger than weak regulatory incentives.

So while you’re right, that’s kinda the whole point of the article too.

Even without the market structure, the incentives are not aligned to make the cheapest possible yet high quality eggs for consumers. I mean in what universe does that make more profits for companies. But that would be better for humans. You’re right, we should care that the structure of the entire economy is deprioritizing what’s best for humans. It’s supposedly only the best structure we’ve found so far.

I mean sheesh. The fines for bad behavior like this need to be like N + some % of N. Where N is the profit they made (MINIMUM), and you scale the % of profit based on how bad the issue is. Companies aren’t people. They can take bigger fines. Investors just need to account from it before they spend millions upon millions in extravagant excess on criminal CEOs like these.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#268

Post by SlightlyLeftPad »

Obscurity4340 wrote: post #257
SlightlyLeftPad wrote: post #220

Earlier quoted context omitted.

I’ll stick with Kirkland Signature which is supplied by Wilcox. I don’t really think Costco ever raised their egg prices afaik. Edit: it is a bit opaque but their main supply network allegedly includes Wilcox and Handsome Brook which are rated decently

Has Costco ever commented on its suppliers/sustainabillity or ethicality in this context?

Sadly no, so it’s likely opaque intentionally, for reasons.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#269

Post by alephnerd »

SlightlyLeftPad wrote: post #268
Obscurity4340 wrote: post #257

Earlier quoted context omitted.

Has Costco ever commented on its suppliers/sustainabillity or ethicality in this context?

Sadly no, so it’s likely opaque intentionally, for reasons.

Costco always enforces strict opacity on it's vendors as a trade secret - it allows them to negotiate from a position of power with fairly large players as well as preventing competitors like Walmart from potentially undercutting Costco by forcing an exclusivity deal or price war.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#270

Post by unparagoned »

Obscurity4340 wrote: post #256
culi wrote: post #253

Earlier quoted context omitted.

For example, Eight Mile Creek based in NY: - uses flocks of 60 in mobile houses that allow the chickens to feed on grass and bugs outdoors without over stressing a particular plot of land. - Hens have ample indoor and outdoor space. - Chicks are allowed outdoors as early as 2 weeks old. - Hens are provided enrichment and toys. - Beak trimming is not practiced. - Death rates are less than 2% and hens reach their natur…

Its disgusting that, under Capitalism, all these parameters are seen as optional or luxury when they are the normal.

I’m not sure what this has to do with capitalism. You get as bad or even worse under other systems.
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