What did you think about the 60 Minutes episode about Luxottica eyewear (glasses)?

Wow! They own everything! Completely vertically intergrated. They make the majority of glasses and sunglasses. Ralph Lauren, Tiffany, Prada, Oakley, Ray Ban, and on and on. They own Lens Crafters and Pearl Vision and Sunglass Hut, and the glasses shops in Target and Sears, and I am sure I am fogetting some. They produce a pair of glasses for $30 and sell them for $300 (cost and prices vary, but the mark up is incredible). When asked if the insurance companies have tried to bring down prices knowing that Luxottica manufactures and owns the retailers, the answer was…they own one of the largest eye insurance companies. OMG! Total monopoly. So much for competition in the free market. It is what I always say, competition brings down prices except when it doesn’t (collusion) or when there is no competition (monopoly) the customer is screwed.