n IMIESA - Not passing the buck : editor's comment

Abstract

A few years ago, the country was astonished to learn about bread price fixing. The backlash from most was that of anger, but when all the significant players in the industry are part of the 'cartel' what choice do you have but to keep buying their products? The end result of an investigation by the Competition Commission saw those guilty paying what seemed substantial fines but in reality, the amounts paid in penalties were a small percentage of the profits reaped during the period of price fixing.