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Words in Business News
By Jon Fernquest

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[Thai Economics Library | Archives (for history)]
May 14, 2008

Cartel

a cartel (noun) - businesses grouped together to control prices and prevent competition

cartel agreements
cartel arrangements
barriers to trade include cartel agreements or arrangements
unsure whether the cartel would hold
very careful about enforcing posted price increases until they were sure that the cartel would hold
the members of the cartel systematically shared the maritime traffic between France and African countries

cartel clamped down on shipments
the struggle by outsiders to break into the cartel
unable to break the cartel
the struggle by outsiders to break into the cartel

form a cartel
cartel leaders
a cartel trying to impose a monopoly on the market
a joint venture which is not a disguised cartel

the deterrent effect is weak since the penalties for operating an illegal cartel are inadequate

a drug cartel
the powerful Medellin cocaine cartel
attacks by the cartel
attacks by the cartel would cease if they agreed to negotiate


Example sentences:

* As I understand it, a cartel is illegal because it's trying to impose a monopoly on the market.

* The diamond industry, as probably the most successful cartel of the twentieth century, is of considerable interest to economists.

* The Commission imposed fines on three chemicals companies on Dec. 19, 1990, for operating an illegal cartel in soda ash.

* They saw the cartel as a necessary evil to make the market less volatile and to restrain producers themselves from trying to corner the market in coffee futures.

* The Manila-based Orient Airlines Association is an informal but effective cartel that fixes fares and shares out business.

* Now I have a dire suspicion that the price of pink apples is being kept down artificially, that a cartel is operating.

* Consuming countries are also members of the International Coffee Organisation which policed the old cartel.

* Even those countries that formed the oil cartel in the mid-1970s were very careful about enforcing posted price increases until they were sure that the cartel would hold.

* Many producers are eager to cobble together another market-sharing cartel, but so far have failed to recruit Brazil, the Saudi Arabia of the world coffee-market with a share just over 20%.

* In particular the members of the cartel systematically shared the maritime traffic between France and African countries (including Benin, Congo, Togo, Senegal and Cameroon) on a monthly basis.

* Evaristo Porras Ardila, linked to the powerful Medellin cocaine cartel, was being held in the south-western city of Pasto after being deported from Ecuador on Sunday night.

* He promised attacks by his cartel would cease if the government agreed to negotiate.

* The government offensive against the drug cartel began in earnest on August 18 after the murders of a presidential candidate, Luis Carlos Galan, and the police chief in Medellin, where the leading drug traffickers are based.

* Oil production by member states of the Organisation of Petroleum Exporting Countries dropped 900,000 barrels a day to 23.5m last month but remains well above the cartel's target level of 22.9m for the first half, the International Energy Agency has said.

* The cartel could then clamp down on shipments of key materials, slowly bleeding the industries of the developed world.

* The barriers to trade take on a variety of forms including cartel agreements or arrangements, national market organisations (such as co-operatives or trade associations) which discriminate against other EC nationals, and abusive monopolisation of markets.

* A joint venture which is not a disguised cartel will create significant new enterprise capability such as new production capacity, new technology, a new product or entry into a new market.

* A decision to let ICI's bioscience businesses demerge would mark a sharp break with a tradition that has formed part of the company's culture since it started: the tradition of the cartel.

* Thomas and Mungham show how the duty solicitor scheme was created and evolved, ostensibly as an act of public service but chiefly as a significant part of the struggle by outsiders to break into the cartel.

* Yet without positive discriminatory assistance the would-be criminal advocates were unable to break the cartel.

* In particular the deterrent effect is weak since the penalties for operating an illegal cartel are inadequate, and the Director General of Fair Trading has few powers to intervene and initiate investigations in situations where there is a suspicion that a secret cartel is in operation.

* But this was expensive for borrowers in terms of commissions (partly because bonds had to be lead managed by US firms, who formed a cartel), and suffered from listing, rating, registration and disclosure requirements.


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