We are investigating and will publish the report “Monopolies in St. Louis, MO.”
ST. LOUIS, MO (STL.News) As a news publication, we receive news tips daily. However, in the past, we avoided this type of reporting and focused on distributing news made available via press releases to avoid the need to write content that takes time and money. We were also concerned about publishing local news that could create revengeful acts.
However, we stumbled across these abusive business practices while helping small businesses in the restaurant industry. We were shocked by the bullish behavior that suppliers and distributors engage in without knowledge or remorse.
At a minimum, Monopolies are unethical and create unfair trade, which is why there are laws to protect consumers and small businesses from these abusive trade practices. Nonetheless, the Federal Trade Commission (FTC) and the US Department of Justice Anti-Trust Division enforce these laws.
What is a Monopoly?
A monopoly exists when a person or enterprise is the only market to purchase a good or service, creating the situation that they dominate the market.
Monopolies lock in economic competition to produce goods or services, allowing high monopoly prices to lead to high monopoly profits.
Monopolies, monopsonies, and oligopolies are all situations in which one or a few entities have market power and interact with their customers (monopoly or oligopoly) or suppliers (monopsony) in ways that distort the market.
On April 23, 2024, the FTC banned noncompete agreements and clauses to create a fair market and not limit employees’ freedom to choose who they want to work for.
Similar to similar practices, monopolies appear restrictive, preventing freedom of choice and increasing consumer purchase costs.
Much of our information was obtained from a Wikipedia page titled “Monopoly” and the FTC website page titled “Monopolization Defined.” As we continued to perform our research, we learned of several businesses and their practices that violate these unfair trade practices, costing consumers potentially millions of dollars annually.
We are seeking additional information from small businesses that feel like they have been forced to do business with a specific supplier/distributor. We want comments regarding any industry, but our primary interest is the restaurant industry. Please email Marty@STLMedia.Agency or phone/text 417-529-1133.
DISCLOSURE: We are not attempting to interpret the law, are not lawyers, and do not provide legal advice. We offer credible information that provides the basis for monopolies’ creation and operation. We will publish our investigative reports.
