Multinational conglomerate Honeywell got its start making thermostats for coal furnaces in the late 1800’s and their round thermostat is an American design icon.
A 2004 class action lawsuit accused the company of using deception to obtain the trademark for its round thermostats, and that it abused its dominant market position to overcharge customers. Honeywell has been sued repeatedly for its round thermostat design.
According to the settlement, residents of the state of Vermont who purchased a Honeywell round thermostat for their home any time over a 25-year span between June 1986 and October 2011 are entitled to 8.2 percent of the $8.15 million settlement.
A Case of the Post-Sanction Blues
Saudi Arabia is the founder of OPEC, and it first struck oil back in 1938. Historically, OPEC has controlled global gas prices by tweaking the supply. But with American sanctions on Iran’s oil supply lessened, and a natural gas boom in the States, Saudi influence over Middle Eastern petroleum is weakening.