Word: marketeers
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...humiliating blow for Intel, which has played a key role in developing chip technology for over four decades, and can now claim a staggering 80.5% market share in microprocessors. But it represents vindication for Intel's semiconductor rival Advanced Micro Devices (AMD), which filed the original complaint in 2000. And it also underlines the power and authority of the Commission, which has now established itself as the world's most feared antitrust regulator...
...Competition Commissioner Neelie Kroes said Intel's predatory pricing practices were specifically designed to muscle out AMD, whose current market share is a relatively meager 12%. "Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for computer chips for many years," she said. "Such a serious and sustained violation of the E.U.'s antitrust rules cannot be tolerated." (See pictures of Obama's trip to Europe...
...Commission ruling hinged on two key issues. Firstly, that Intel abused its dominant market position with hidden financial incentives that restricted or blocked the use of AMD chips - which are cheaper, but have similar specifications - in computers sold in the E.U. Intel also paid major retailers on condition they stock only computers with Intel central processing units (CPUs...
...Intel responded by announcing it would appeal in the E.U.'s courts. "We believe the decision is wrong and ignores the reality of a highly competitive microprocessor market," Intel chief executive Paul Otellini said. "There has been absolutely zero harm to consumers. Intel will appeal...
...Larry Summers had been proclaiming for several years that the percentage had to come down. It has thus far stubbornly refused, with consumer spending hitting 70.7% of GDP - close to a record - in the first quarter of this year. American households have lost too much wealth and the job market is too miserable for that to keep up much longer...