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Why Did Sprint Pile On the DOJ’s AT&T / T-Mobile Suit?

So, the AT&T / T-Mobile transaction gets more and more interesting.  Sprint has filed a complaint challenging the transaction.  I’ve been commenting on the weakness of the DOJ complaint and in particular, its heavy reliance on market structure to make inferences about competitive effects. The heavy dose of structural presumption in the DOJ complaint — ... Why Did Sprint Pile On the DOJ’s AT&T / T-Mobile Suit?

One is not a partnership

Bob Hillman and Don Weidner have a nice little paper in the form of a dialog about what you have when a partner withdraws leaving only one “partner”: Partners Without Partners: The Legal Status of Single Person Partnerships.  Here’s part of the abstract: Although we have differing views on whether a single person partnership is ... One is not a partnership

Delaware bans LLC creditor derivative suits

On Friday the Delaware Supreme Court decided the important case of CML V, LLC v. Bax (see Francis Pileggi’s helpful summary). The court, per CJ Steele, held that a creditor lacks standing to sue an insolvent LLC derivatively.  The court reasoned that when the Delaware LLC Act says in §18-1002 that a plaintiff in an ... Delaware bans LLC creditor derivative suits

The Spectrum Argument Lives, Debunking Letter-Gate, and Why the DOJ Is Still Wrong to Try to Stop the AT&T/T-Mobile Merger

[Cross-posted at Tech Liberation Front] Milton Mueller responded to my post Wednesday on the DOJ’s decision to halt the AT&T/T-Mobile merger by asserting that there was no evidence the merger would lead to “anything innovative and progressive” and claiming “[t]he spectrum argument fell apart months ago, as factual inquiries revealed that AT&T had more spectrum than Verizon and the ... The Spectrum Argument Lives, Debunking Letter-Gate, and Why the DOJ Is Still Wrong to Try to Stop the AT&T/T-Mobile Merger

Do Exclusionary Theories of the AT&T / T-Mobile Transaction Better Explain the Market’s Reaction to the DOJ’s Decision to Challenge the Merger?

I don’t think so. Let’s start from the beginning.  In my last post, I pointed out that simple economic theory generates some pretty clear predictions concerning the impact of a merger on rival stock prices.  If a merger is results in a more efficient competitor, and more intense post-merger competition, rivals are made worse off ... Do Exclusionary Theories of the AT&T / T-Mobile Transaction Better Explain the Market’s Reaction to the DOJ’s Decision to Challenge the Merger?

Why Is Sprint’s Stock Surging Upon the Announcement of the DOJ’s Challenge to the Proposed AT&T / T-Mobile Merger?

Basic economic theory underlies the conventional antitrust wisdom that if a merger makes the merging party a more effective competitorby lowering its costs, rivals facing this more effective competitor post-merger are made worse off, but consumers benefit.  On the other hand, if a merger is likely to result in collusion or a unilateral price increase, ... Why Is Sprint’s Stock Surging Upon the Announcement of the DOJ’s Challenge to the Proposed AT&T / T-Mobile Merger?

A couple of quick thoughts on the DOJ’s filing to block AT&T/T-Mobile

As Josh noted, the DOJ filed a complaint today to block the merger.  I’m sure we’ll have much, much more to say on the topic, but here are a few things that jump out at me from perusing the complaint: The DOJ distinguishes between the business (“Enterprise”) market and the consumer market.  This is actually ... A couple of quick thoughts on the DOJ’s filing to block AT&T/T-Mobile

DOJ Files Suit to Block AT&T / T-Mobile Merger

More on this later.  For now, here is the complaint and the press release: WASHINGTON – The Department of Justice today filed a civil antitrust lawsuit to block AT&T Inc.’s proposed acquisition of T-Mobile USA Inc.   The department said that the proposed $39 billion transaction would substantially lessen competition for mobile wireless telecommunications services ... DOJ Files Suit to Block AT&T / T-Mobile Merger

Legislative History of the National Securities Markets Improvement Act of 1996

We’ve been discussing the proxy access case, see here,  here, and here, where the DC Circuit overturned an SEC rule for failure to meet its requirement under the National Securities Markets Improvement Act of 1996 to consider the effect of the rule on efficiency, competition, and capital formation in addition to its historical mandate to consider ... Legislative History of the National Securities Markets Improvement Act of 1996

Hazlett & Wright on The Law and Economics of Network Neutrality

Thomas Hazlett and I have posted The Law and Economics of Network Neutrality: The Federal Communications Commission’s Network Neutrality Order regulates how broadband networks explain their services to customers, mandates that subscribers be permitted to deploy whatever computers, mobile devices, or applications they like for use with the network access service they purchase, imposes a ... Hazlett & Wright on The Law and Economics of Network Neutrality

Natural Disasters and Payday Lending

There has been plenty of Hurricane Irene blogging, and some posts linking natural disasters to various aspects of law and policy (see, e.g. my colleague Ilya Somin discussing property rights and falling trees).   Often, post-natural disaster economic discussion at TOTM turns to the perverse consequences of price gouging laws.  This time around, the damage from ... Natural Disasters and Payday Lending

Undermining Community for Specious Public Health Benefits

We classical liberals are often criticized for undermining communitarian values by emphasizing individual liberties.  In reality, though, a liberal society (in the classical sense, not the welfare-state sense) fosters community by allowing people to associate in ways they find most meaningful.  Indeed, one of the great things about a liberal, live-and-let-live city is that it ... Undermining Community for Specious Public Health Benefits