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Hot off the press: Fencing Fiduciary Duties
My article, Fencing Fiduciary Duties, has just appeared in a B.U. Law Review symposium. Here’s the abstract: This comment on the work of Professor Tamar Frankel builds on her encyclopedic discussion of the various types of duties that have been classified as “fiduciary.” I argue for a more precise definition and more limited application of ... Hot off the press: Fencing Fiduciary Duties
It’s baaack: The Shareholder Protection Act
The Shareholder Protection Act been reintroduced in Congress, and Lucian Bebchuk still likes it. He and Robert Jackson wrote an article defending the basic idea, which Bebchuk describes as to “establish special corporate-governance rules for deciding when corporate resources may be spent on politics.” He admits “the bill is unlikely to be adopted during this ... It’s baaack: The Shareholder Protection Act
Searching for Antitrust Remedies, Part II
In the last post, I discussed possible characterizations of Google’s conduct for purposes of antitrust analysis. A firm grasp of the economic implications of the different conceptualizations of Google’s conduct is a necessary – but not sufficient – precondition for appreciating the inconsistencies underlying the proposed remedies for Google’s alleged competitive harms. In this post, ... Searching for Antitrust Remedies, Part II
Searching for Antitrust Remedies, Part I
This is part one of a two part series of posts in which I’ll address the problems associated with discerning an appropriate antitrust remedy to alleged search engine bias. The first problem – and part – is, of course, how we should conceptualize Google’s allegedly anticompetitive conduct; in the next part, I will address how ... Searching for Antitrust Remedies, Part I
Josh and I make the big leagues
Cited today by Gordon Crovitz in the Wall Street Journal: Instead of letting consumers choose, other search companies including Microsoft are funding FairSearch.org to lobby regulators and politicians to stop what it calls “Google’s march toward an ‘unregulatable monopoly.'” Legal academics Geoffrey Manne and Joshua Wright wrote a recent article entitled “If Search Neutrality is ... Josh and I make the big leagues
FCC Competition Report is one green light for AT&T-T-Mobile deal
BY LARRY DOWNES AND GEOFFREY A. MANNE The FCC published in June its annual report on the state of competition in the mobile services marketplace. Under ordinary circumstances, this 300-plus page tome would sit quietly on the shelf, since, like last year’s report, it ‘‘makes no formal finding as to whether there is, or is ... FCC Competition Report is one green light for AT&T-T-Mobile deal
The SEC under judicial supervision
You may remember Rajat Gupta, the former GS and P & G director the SEC accused in a March 1 administrative order of tipping inside info to Rajatnaram. I have previously discussed the many peculiarities of that case, including the fact that the SEC chose this as the first insider trading case (and the first ... The SEC under judicial supervision
Impractical law schools
The WSJ reports today on how “some law schools are throwing out decades of tradition by replacing textbook courses with classes that teach more practical skills.” Examples from the article: IU’s courses on “project management” and “emotional intelligence;” NYLS’s courses in “negotiation, counseling and fact investigation;” W & L’s new third year curriculum replacing “lectures ... Impractical law schools
The Efficiency of Cable Bundling
As I noted in a post last month, the Ninth Circuit recently threw out an antitrust challenge to cable operators’ refusal to provide cable channels on an a la carte, rather than bundled, basis. (Josh also had some insightful comments on the Ninth Circuit’s Brantley decision.) In my post, I promised that I would later ... The Efficiency of Cable Bundling
“Argentina’s government has filed criminal charges against the managers of an economic consulting firm, escalating its persecution of independent economists.”
Some context (HT: WSJ): The criminal complaint, initiated by the Commerce Secretariat, is the harshest in a series of legal measures against economists. The credibility of Indec’s data has been questioned ever since former President Nestor Kirchner replaced longtime civil servants with political appointees in early 2007. So far this year, the Secretariat has fined ... “Argentina’s government has filed criminal charges against the managers of an economic consulting firm, escalating its persecution of independent economists.”
Morgenson’s DPA scandal
It’s not easy coming up with scandals all the time. Some days there just isn’t a new scandal to report. But that space has to get filled somehow. The NYT’s Gretchen Morgenson often finds herself in this position. Her scandal for yesterday, reported as usual with Louise Story (I’ll just start calling them Morgenstory), was about ... Morgenson’s DPA scandal
Office Superstores, Again?
FTC v. Staples is a seminal case in modern antitrust analysis of horizontal mergers. Judge Posner has described it as the economic “coming of age” of merger analysis. It is also a landmark decision in the development of unilateral effects theories. Despite the fact that Judge Hogan did not explicitly rely upon the econometric evidence ... Office Superstores, Again?
