Tuesday, July 26, 2005

Price, with all the fixin's

When Irving Materials (IMI), Greenfield, IN, pleaded guilty last month to fixing prices in the ready-mixed concrete market, I thought that was the end of it. I was wrong. Eight construction companies or heads of companies are now seeking triple damages from IMI since it agreed to pay a $29 million fine on June 29. The companies, as reported in the Indianapolis Star, are Van Valkenburg Builders of Avon; Siniard Concrete Services of Bloomington; Dan Grote of Crawfordsville; Michael Reisert of Greenfield; R. Shane Tharp of Indianapolis; Kort Builders of Indianapolis; Boyle Construction Management of Indianapolis and Environ of Noblesville. Each suit seeks class-action status. That's what I call piling on. Your comment?