Tuesday, January 19, 2016

Price-fixing history

Israeli police say they are investigating allegations of a secret price-fixing arrangement by companies who organise the trips for high-school students to former Nazi death camps, such as Auschwitz. Nine executives at Israeli travel agencies have been arrested and bank accounts frozen.

When the Israeli education ministry approached a number of different companies, it received identical quotes. The collusion was aimed at artificially inflating prices.

Thousands of Israeli high school students travel to memorials at World War Two death camps every year. A trip can cost several thousand shekels per student. For many Israeli high-school students a visit to the site of the Nazi death camps in southern Poland is a rite of passage which gives them a direct sense of connection to the Holocaust.

Profits are the only thing sacred to business. 

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