Word: antitrusters
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Said Secretary of Commerce Bill Gates, "Under this Republican administration, the free market has flourished; we've come a long way since the days of Democratic antitrust witch hunts." The Dow Jones industrial average is expected to hit a record high of 30,000 within the next month. Investors were particularly exuberant this week after the announcement that the bug in Windows 2004, in which the newly-functional Internet refrigerator plug-in caused widespread failures during Fourth of July weekend last year, will be fixed in the new version...
...what will the merger do to the price of fares? The idea of a bigger, broader United having so much control over so many hubs is certain to flag antitrust regulators, as well as impelling other airlines to consider similar combinations. Such a process would, of course, lead to more and more control over the hub-and-spoke system by fewer and fewer airlines. United tried to head off those worries by putting some provisions in the deal - promising a fare freeze (except in case of upticks in inflation or gas prices, of course) for two years after the merger...
Rootin', tootin', acquisition-mad MCI Worldcom chief Bernard Ebbers may have finally met his match: the antitrust boys at the Justice Department. Ebbers' proposed $130 billion hookup with Sprint - the latest in a spectacular string of acquisitions by the southern-fried CEO - would be one of the largest corporate mergers ever, a joining of the No. 2 and No. 3 long-distance carriers that posed a serious threat to leader AT&T. But now Justice staffers have formally recommended to head trustbuster Joel Klein that the merger be blocked, on the grounds that a company with one third...
...defend the marriage, but MCI Worldcom isn't wasting any time making the deal look more palatable. The company reiterated that it is willing to sell all or part of its Internet "backbone" - the switching-provider part of the deal, which also worries European regulators - to help soothe antitrust regulators. A spokesman said Thursday that the company currently is in the process of defining exactly what business units are a part of that backbone and spinning them off into a separate division. Meeting the feds halfway is usually the best way to deal with them, and if Ebbers...
...matter what harm this does to consumers, software developers, the industry that has driven America's remarkable growth--or, indeed, the entire economy. That is why Microsoft plans to appeal the district-court decision, which is at odds with a decision of the U.S. Court of Appeals and with antitrust law. We remain confident that the courts will reaffirm that every company, no matter how successful, should be encouraged to build better products for consumers...