Word: antitrusters
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Microsoft antitrust decision a positive step in freeing industry
...panic. That's TIME Digital editor Josh Quittner's advice to Microsoft investors Monday, as the stock price fell 5 percent in the first hour of trading following last Friday's antitrust case setback. (It later recovered to 89.93, and finished down just 1.8 percent on the day.) "Microsoft is the same company it ever was - one of the greatest concentrations of brainpower on the planet," says Quittner. "That's not going to change, and the company shouldn't be worth any less Monday than it was on Friday. Moreover, most investors had good reason to expect this ruling." Judge...
Like so much else in the Microsoft antitrust case, Judge Thomas Penfield Jackson's findings of fact both stated what many suspected and left crucial details until later. The findings: Microsoft is indeed a monopoly, possessing a stranglehold over the PC desktop. It has abused the power, and that abuse has harmed consumers. The findings so closely paralleled the government line that you might have thought they were actually written by lead DOJ attorney Joel Klein. But that just shows Judge Jackson was paying attention, says TIME's Chris Taylor: "He's shown in this ruling a real grasp...
...markets, of course, weren't waiting for any legal decisions, and MSFT fell four points in after-hours trading. That's not much, considering, and it reflects the feeling among many traders that even if Microsoft were found guilty of antitrust, that might not be a bad thing. For instance, if the feds decided to split the company up, whether along product lines or by creating several equally endowed "Baby Microsofts," the combined value of the resultant stock would probably end up higher than the original. Other scenarios aren't so rosy: Bill Gates could be forced to give away...
...Wall Street, though, this big deal is no big deal at all. Antitrust concerns have been raised because an important competitor is being removed. But with Internet and regional Bell companies creeping into the picture, long-distance rates--now about as low as they've ever been--are unlikely to spurt higher. In the long run, the MCI WorldCom-Sprint combination may push us a little faster to telecom nirvana: one-stop shopping for local, long distance and wireless service; Internet access; and cable TV. Imagine all those connections in one jack (plus wireless) and a single bill based...