Consumer Business Review: Expedia and Others Face Possible LAWSUIT, Nike Raises PRICES
Some 15 hotel firms and travel sites, including Expedia, Inc. (NASDAQ:EXPE), Starwood Hotel & Resorts Worldwide, Inc. (NYSE:HOT), Orbtiz Worldwide, Inc. (NYSE:OWW), and Marriott International, Inc. (NYSE:MAR), might soon be the target of a class-action suit if the two customers who began the process on Monday have their way. The firms are accused of conspiring to fix the cost of hotel rooms and also to cease business activities with online retailers that sold rooms below certain specific rates.
Nike Inc. (NYSE:NKE) intends to boost its prices on shoes to inculcate higher labor and materials costs, especially in China where one third of its shoes are made. This autumn, Lebron X will be launched at around $315, which might tell observers a lot about the reactions of consumers to the price hikes.
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