Word: ftc
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...plan unleashed a fire storm: six lawsuits; separate investigations by the FTC and the states of New York and Michigan; and a mess of bad press. But it wasn't until the company's stock plunged and two key business partners--Altavista and Kozmo--broke ranks that DoubleClick finally backed down. "I made a mistake," said CEO Kevin O'Connor, whose $1.7 billion purchase last fall of tracking data from Abacus Direct alerted privacy watchdogs that something was afoot...
This could get ugly. The heads of the FTC voted 3 to 2 Wednesday to block the pending merger of petroleum giants BP Amoco and ARCO. Though the FTC will no doubt deny it, it would appear that timing was the gasoline companies' problem as much as anything - they decided to combine just when the FTC had had its fill of oil company mergers. The commission spent good portions of 1998 and 1999 wrangling over whether to approve the $81 billion Exxon-Mobil merger, and have since indicated that the competitive playing field of gasoline vendors can't stand...
...irony is that BP Amoco-Arco would be less than half the size of Exxon Mobil. But the FTC voiced concerns that the move would stifle competition on the U.S.'s West Coast, with BP Amoco-Arco controlling 45 percent of the oil refined in California, Oregon and Washington. This won't be the last you hear about this - the heads of British-based BP Amoco and L.A.-based Arco have long said that they would fight regulators to the bitter...
While the FTC has been made aware of this discrepancy before, they've done little to address it, beyond assuring Health and Human Services Secretary Donna Shalala in 1998 that they were "investigating" their current labeling methods. Health officials and doctors aren't feeling particularly patient, and are pressing for a major overhaul in the agency's procedures. "When full review of the FTC's process comes out, we suspect it will show current methods are not helpful at all," says Judith Wilkenfeld, Chair of the Committee for Tobacco Product Change in Washington, D.C. "We're long overdue...
...SCAM SLAM Government agencies have taken action against some 600 Internet outfits, alleging that many are pyramid schemes posing as marketing companies, which require hefty investments from participants. Last month the FTC asked a judge to shut down 2Xtreme, which persuaded some 60,000 recruits to buy expensive marketing kits for New Age products. Their earnings were tied to developing "downlines," i.e., new recruits. For more info, visit www.consumer.gov...