March 28, 2006

BusinessWeek 50 - Gougers

I noticed something strange about the top performers in the BusinessWeek 50. The vast majority of the top companies are in health insurance and energy. (Halliburton is also listed, but their growth is even more ethically questionable.) But shouldn't health insurance and energy companies be making minor profits, and not huge ones?

If health costs are so high, or the insurance prices need to be high to cover things like malpractice, why are the health insurance companies actually making lots of extra money? And energy should not be priced at whatever the market can bear, since they are legalized monopolies due to infrastructure limitations. All of these consolidations are not good for consumers and I'd be interested to see how pricing is determined. When there's only one supplier, or a few suppliers with close ties to each other as well as high-ranking members of the federal government, things should smell fishy.

Posted by josuah at March 28, 2006 4:15 AM UTC+00:00

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