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DOT: 5 Airlines Investigated for ‘Price Gouging’ After May Amtrak Crash in Philly
The U.S. Department of Transportation announced an investigation into possible price gouging by five airlines. The agency is concerned that five airlines may have raised airfares in the Northeast following a deadly Amtrak crash in Philadelphia in May that disrupted rail service in the region..... (www.frequentbusinesstraveler.com) Mehr...
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The transportation industry is very sensitive to effects of disruption. When the local news lead with footage of a refinery fire in Richmond Calif at 5:00, gas rose $.05 by 5:30 at local stations. The 5:30 news footage included people changing the price signs.
And they don't do anything about those who gouge at the gas pump. Years back they had big investigations about gas prices but it just kind of died and nothing came of it. Guess they think that there is something they can get press mileage out of by trying it on airline ticket prices.
Perfect!
While the supply was reduced, there was no shortage -- nobody had to wait in line for hours at the pumps because there was no gas.
When there is more supply than demand and the prices go up, someone is profiteering.
When there is more supply than demand and the prices go up, someone is profiteering.
Rick: How can you close me up? On what grounds?
Captain Renault: I'm shocked, shocked to find that gambling is going on in here!
[a croupier hands Renault a pile of money]
Croupier: Your winnings, sir.
Captain Renault: [sotto voce] Oh, thank you very much.
[aloud]
Captain Renault: Everybody out at once!
Captain Renault: I'm shocked, shocked to find that gambling is going on in here!
[a croupier hands Renault a pile of money]
Croupier: Your winnings, sir.
Captain Renault: [sotto voce] Oh, thank you very much.
[aloud]
Captain Renault: Everybody out at once!
