Profiteering from the CV outbreak: a tale of greed
This article addresses two men as well as others who manipulated market sections by buying out local stores, stripping their supplies of hand sanitizer and masks, then reselling them at outrageous prices.
https://www.msn.com/en-us/news/us/he-has-17700-bottles-of-hand-sanitizer-and-nowhere-to-sell-them/ar-BB11blvS?ocid=spartandhp
One man sold hand sanitizers at anywhere from $7 to $70 per bottle, until he was shut down and shut out of the profiteering market. He's not the only one.
He and his brother hit 4 stores in TN and KY, filling a U-Haul with supplies and stripping the stores' inventory of them. Then he resold them at multiplies, bringing in hefty revenues from the heavy markups.
Fortunately he and others have been shut down. This particular shyster now has 17,700 bottles of hand sanitizer. That's more than I could use in a lifetime. And yet people in need are going w/o, while this man and other shysters are hoarding supplies.
Hopefully the states will take action against him for this kind of profiteering, with an added charge perhaps of hoarding supplies necessary to a pandemic and depriving individuals of their need for these supplies.
Since some of these people have done this before, I think RICO charges could also be considered. This may not be a high level organized crime, but it is a pattern of crimes.
But I also blame the stores for allowing someone to strip their entire supply of any type of product, especially one needed during a health crisis.
When you next try to buy hand sanitizer, it might be because someone, somewhere, has already bought out a store's supply. That's not a very comforting thought, and reflects the irresponsibility and self enrichment of some shysters.
I was fuming about rice stocks too yesterday, but today I'm a little ashamed about that. There is a shortage, but that's because people have been buying it "in case," rather than hoarding or panic-buying as such; and although it has been on my list all week and I am down to my last two helpings, I was certainly never in "danger" of having to eat my chilli with garlic bread instead. Anyway, dear old Waitrose had plenty this morning, what a fuss I made about nothing.
I didn't even bother looking for hand gel, partly because I'm fine for now, partly no doubt I was subconsciously afraid people would laugh at me for even looking, and partly because we're supposed to be issued with it at work, and if *they* run out - then I don't know what.
But we all know it, and yet "we all" (I know not all, but enough as makes no difference) do it. The ONLY reason there is a shortage of hand gel is that people have been buying stocks they don't need; and one reason for that is there is money to be made; and the only reason for that is that people allow themselves to be blackmailed.
It's not insulin. It's not anti-venom. It's not even soap or clean water. It's hand gel - it is NOT going to save anybody's life. Do not pay silly amounts of money for it just so you'll have something to tell your great-grandchildren about what you did in the Great Covid-19 War.
I agree that profiteering is vile, and such people are extremely cynical. But for one thing it is something that governments can easily put a stop to within days (rationing and distribution of essential supplies); and for another the answer lies in the consumers' hands. The sharks may be irresponsible but so are people who buy from them.
I gave the bottle I carried in my tunic pocket to a client three weeks ago, not because of the corona virus but because he had D&V and he does the cooking for himself and disabled wife 😱. It's now sitting on his side table next to a jumbo sized bottle that his son brought him and I'm quite tempted to pinch mine back. Except that I don't exactly know where it's been...
Went to Wally World yesterday. Packed, this store in this small town is NEVER packed. No TP, no ibuprofen, no allergy meds, no naproxen. I did need ibuprofen PM which was still on the shelves. Maybe people should buy more of this so they can relax, even just a bit, through this panic. 😦
Even before that, Amazon and Ebay were taking down marketplace sellers that were price gouging. For some that can be more painful. Since Amazon court is very tough and an Amazon ban is forever.
The stores I was in this last week limit quantities. For example 2 or 4 items per person per category.
Any time my sig other says we are out of an item, I would go "shopping in the basement" finding the item he needed. Hey, when something is on sale, I don't pass up a good bargain :)
But with the C-19, my main concern was that the grocery stores would close up, so I was in a panic mode for awhile. Thankfully all the grocery stores in my area will remain open, may cut their night hours for customers so that employees can stock the shelves.
Shell, I also noticed higher prices on some items. Which didn't make sense as those products, even if they were from other parts of the world, were already in the States, so why raise the price? I could see the increase once the inventory at the distribution centers were out of stock, and items had to be ordered. Expect a jump in the price of fish from overseas, and those great cookies from Italy and Germany. Oh no, chocolate could be on that list :0
My parents had always grown as much as possible of their own food. Dad built a pantry in the basement and Mom filled it with canned goods. So we grew up thinking in terms of planning ahead, especially for the winter months until we could garden again.
It surprises me that so many people live from week to week, w/o any backup supplies (although candy is one exception b/c one should never run out of chocolate).
Beyond the basics of just having enough for more than a few weeks ahead, it also makes me feel kind of sad that so many people don't know how to plan, or adapt, or be creative, and are facing such anxiety over perceived insufficient stockpiles.
I saw no one stocking up on flour, so I'm assuming they don't bake their own bread. Homemade bread is a treat everyone should experience! There's nothing like the fragrance of home made bread in the oven. And it's kind of a family bonding experience as well.
I think many people have segued into a more spontaneous mode, buying what's needed for perhaps a week or so and relying on supplies always being available.
But it's not just food. When blizzards or winter storms are predicted, there's a run on shovels and salt. We live in a cold weather state; we've had blizzards since I was a child, and it never ceases to amaze me that some residents don't even have shovels until a blizzard or storm is anticipated.
I don't intend to be critical, or condemn anyone. I think instead that these experiences we're undergoing now can offer insight to people on how to bring more security into their lives, and eliminate the anxiety that many (including me) are experiencing now.
Freqflyer, I have to have my chocolate...maybe I should have stocked up...LOL!
I don't know why stores are raising their prices unless it is just out of greed! Glad I am not the only one that notice it!!!
The other despicable thing that happened was with car dealerships. They sold cars that had been flooded. People were always having issues with those cars.
People were getting sick in the FEMA trailers due to formaldehyde levels so rental prices went sky high. Rentals were scarce and in demand. Greedy landlords had no problem gouging residents who lost their homes.
It’s sad that some people take advantage of people during the worst of times.
In regard to food, I remember grandma canning food, especially making fig preserves from her fig tree. Yummy! I wish I had asked her to teach me how to do canning.
Life is sometimes so strange that it changes so much we forget things that were very important at one time in our livs.
NeedHelpWithMom, unfortunately, the "underbelly" of society is literally omnipresent to sneak out and capitalize on unfortunate events. Our Governor has already established (Exec Order or law?? unsure) penalties for price gougers.
What I don't understand though is the complete lack of compassion and sympathy for those suffering; they're just people to be exploited. I hope someday these shysters are in a similar position but get no help from anyone.
Organic. free range chicken or what? Even if so, kind of high for that small amount. I buy organic and free range, but I buy whole chickens to roast.
No that is not normal! Chicken breast should not be 20 dollars for 2 breast. Chicken should not be 7.99 lb. Its chicken! What is wrong with these stores. It is price gouging!😨
One of our stores raised the price for Ben & Jerry's ice cream to 7.99 and bleach from 4.00 a big bottle to 10.00 for the same bottle!😨
OMG on the person who got their cart taken! 😱
What is wrong with people? I know I ask this question all the time!!😠
I had gone to the grocery store that afternoon looking for ground beef. None to be had. Toilet paper aisle empty and canned goods aisle mostly empty.
Gershun there is picture circulating in social media of someone at Costco....and now I can’t remember WHAT their cart was full of but it was absolutely ridiculous and I wondered WHY Costco allowed them to buy such a huge quantity! Wish I could remember what it was because it was something in high demand.....
At Nob Hill today they had signs up saying they were limiting how much chicken and eggs you can buy....but They didn’t even have any chicken or eggs!
one of the mom & pop stores on the east side of town was selling cases of Costco water for 8.99! They are 2.99 at Costco AND the store doesn’t have to pay tax or CRV so talk about price gouging!
i did see that the 2 jerk wad brothers in Tennessee who bought thousands of hand sanitizers in several states have been forced to donate it! It’s a shame they also sold some for a hefty profit but hopefully they get a huge fine when it’s all said and done! I have not been able to find ANY cleaning products in over a week. We have plenty of hand soap because I tend to get carried away when bath & body works has their after Christmas sale LOL....and I found a bottle of equate sanitizer under the sink too.....but we are low on Clorox spray. Hopefully with the shelter in place order, people will start staying home and stores won’t be wiped out of everything anymore.
Expensive! More than usual if it’s ordinary chicken. We expect to pay more for organic and free range.
Do not go further and further afield until you find the item and then buy six of them instead of one; because if you do that, YOU are the cause of the problem.
There are very, very few things that we can't cope without for a while. So if you want this depressing, frustrating nonsense to end quicker, give your retailers a chance to restock and then act normal.
The check out line I was in the cashier seemed hysterical so I took my stuff to the other counter. I said loudly "I'm not getting on the crazy train"😒
You need to get bananas!
GREAT to see you Book, stay well. Back to sleep for me.