Here It Comes Bezos...
The Market Ticker - Commentary on The Capital Markets
2017-07-20 17:24 by Karl Denninger
in Company Specific , 185 references Ignore this thread
Here It Comes Bezos...
 

The FTC has explicit rules on "reference prices" -- that is, "was $X, now $Y"

You cannot artificially inflate so-called "reference" prices; they must reasonably reflect the actual price at which an item was sold and not be some pie-in-the-sky dreamfest.

Well, it appears that Consumer Watchdog, an advocacy group, has found widespread cases in which the actual displayed "references" prices were in fact nonsense.  In other words the allegation is that Amazon is intentionally misleading consumers on what sort of "discount" it is offering.

This practice was explicitly regulated because it was the subject of outrageously misleading practices by retailers for a very long time.  No, Amazon is not exempt.

Apparently someone over at the FTC stopped watching Porntube long enough to take a look....

Oh by the way they got caught in Canada doing the same thing and paid a fine.... I suspect they didn't "admit guilt", however -- nobody these days ever does, right?

This could get interesting considering that the report included a request for the FTC to block their Whole Paycheck acquisition while these alleged acts are continuing....

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