FTC Orders 20-Year Monitoring of U-Haul in Price-Fixing Case

[The Straight Story]

FTC Orders 20-Year Monitoring of U-Haul in Price-Fixing Case


U-Haul, the nation’s largest one-way truck rental business, will have its pricing schemes monitored for the next 20 years by the federal government after being caught colluding with competitors to charge customers more money.

An investigation by the Federal Trade Commission found U-Haul communicated with rivals Budget and Penske to keep the companies from undercutting each other and offering lower prices.

One memo from U-Haul’s top executive, Edward Shoen, read: “Budget continues in some markets to undercut us on One-Way rates. Either get below them or go up to a fair rate. Whatever you do, LET BUDGET KNOW. Contact a large Budget Dealer and tell them. Contact their company store and let the manager know.”

http://www.allgov.com/Controversies/ViewNews/FTC_Orders_20_Year_Monitoring_of_UHaul_in_Price_Fixing_Case_100726

[Historic NY]

1. And you thought 19.99 a day was all they charged.