[Newsbot]

Title: Bell hit with $10-million penalty for �tricking consumers'
Category: Business
Posted By: Scape
Date: 2011-06-28 21:20:00
Canadian

[Prof_Chomsky]

The real problem as usual is the corporation is allowed to deny any wrongdoing then pay a nominal fee to get out of the issue.
No where does it say how much ill-gotten profit they made either. And if history is any gauge, they likely made 50 million and will gladly pay 10 as the cost of doing business...

[BeaverFever]

Note that Bell's defence has been to basically say "But all the other comapanies are doing it!" And they're not wrong. It's just that this time they've been singled out by the regulator to take the slap on the wrist.

Anybody who thinks that gov't regulation is unecessary in a free-market economy because the consumer is all-powerful or that competition somehow necessiates honesty, is fooling themselves.

[Regina]

...........and in other news. Bell raises rates to cover an unexpected $10 million shortfall in revenue.

[PublicAnimalNo9]

Regina Regina:

...........and in other news. Bell raises rates to cover an unexpected $10 million shortfall in revenue.

Nahhh that's not how business works. They'll raise their rates to cover the $10M "loss" PLUS the projected loss for next year because they can no longer fleece their customers with this particular scam.

[Regina]

Yup!

[BeaverFever]

They'll add it on as a "regulatory recovery fee" and then everybody will get confused and think its a "job-killing big goverment tax" that businesses have no choice but to pass on to conumers. And that's how Bell will shift blame from themsleves to government and the beat goes on.

[Brenda]

Regina Regina:

...........and in other news. Bell raises rates to cover an unexpected $10 million shortfall in revenue.

As did Fortis (6%) with their electricity, because they have to update whatever they have to update.

Hmmm, yeah, you knew 20 years ago that you needed to do that, what about SAVE UP instead of billing us afterwards???

[weaselways]

Hey, at least Bell stood up and took it (probably more to with legal defense caost than the right thing). Rogers has the same issue on going but they are going to fight & tie up court time after precedent has already been set.