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The collection of all scholarly commentary on law, economics, and more

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Credit Suisse and "Sector Regulation": SCOTUS Picks the Right Poison

In Monday’s Credit Suisse v. Billing decision, the Supreme Court held that the federal securities laws implicitly precluded the application of antitrust law to the defendants’ alleged misconduct. The plaintiffs, buyers of newly issued securities, had accused the defendants, underwriting firms that had collectively marketed and distributed those securities, of violating Section 1 of the ... Credit Suisse and "Sector Regulation": SCOTUS Picks the Right Poison

FTC's Whole Foods complaint: still bulls**t

As Manfred reports over at the Antitrust Review, the judge has unsealed the FTC’s complaint against Whole Foods.  This unredacted version reveals an unhealthy reliance on hot docs by the FTC’s staff.  I won’t belabor the point.  But when you’re looking at marketing materials and reports to the board to identify anticompetitive intent (hmmm.  I ... FTC's Whole Foods complaint: still bulls**t

More Thoughts on Whole Foods/Wild Oats

Geoff nailed it on the Whole Foods/Wild Oats affair last week. Always a day late and a dollar short, I’ve just written my own short piece on the FTC’s effort to block the merger of these two fancy grocers. My article appears on the website of the eSapience Center for Competition Policy (eCCP). You’ll have ... More Thoughts on Whole Foods/Wild Oats

Is Antitrust/Competition Law or Industrial Organization Taught in Your Country?

My future colleague, Danny Sokol (who’ll be visiting at Missouri Law next year), is one of the authors of the fantastic Antitrust & Competition Policy Blog. Danny requested that I post the following: I am surveying countries around the world that are not OECD members and not members of the EU to determine whether and ... Is Antitrust/Competition Law or Industrial Organization Taught in Your Country?

Activist hedge funds hurt credit quality

The Financial Times reports today on a Moody’s study that finds “[a]ctivist hedge funds and other short-term shareholders are almost always bad for the credit quality of their target companies . . . .” (See here for the FT article). I’m interested in reading the Moody’s study but have been unable to find it online. ... Activist hedge funds hurt credit quality

PIPEs

I recently posted on SSRN one of the two articles I have committed to write for the Entrepreneurial Business Law Journal. It’s entitled PIPEs (note that I went with a “micro-title†and successfully resisted the urge (at least for now) of being “very punny,” e.g., PIPE bomb, Sewer PIPE, Burst PIPE, Smoking PIPE, PIPEline . ... PIPEs

FTC Rethinks Bad Pun?

Geoff’s post last week on the FTC’s move to block the Whole Foods/Wild Oats merger poked fun at a stupid pun appearing in the agency’s press release: “If Whole Foods is allowed to devour Wild Oats, it will mean higher prices, reduced quality, and fewer choices for consumers. That is a deal consumers should not ... FTC Rethinks Bad Pun?

Premium natural and organic bulls**t

It appears that the FTC is moving to stop the proposed Whole Foods/Wild Oats merger. Says the FTC: If Whole Foods is allowed to devour Wild Oats, it will mean higher prices, reduced quality, and fewer choices for consumers [in the premium natural and organic supermarkets market]. That is a deal consumers should not be ... Premium natural and organic bulls**t

Media Consolidation and Antitrust

One of the more interesting parts of Senator Herbert Kohl’s recent Antitrust interview, in which he also discussed airline mergers, concerned antitrust’s treatment of media consolidation. Here’s what the Senator had to say: It’s such a very important issue, media consolidation, because it has the potential to reduce if not eliminate the opportunities people have ... Media Consolidation and Antitrust

More Kookiness in Chicago

I’ve previously tiraded about paternalism in my beloved Chicago. I won’t beat that dead horse, but I just can’t ignore the latest liberty restriction imposed by our esteemed aldermaniacs. The members of the aldermen’s Buildings Committee recently voted to extend the city’s smoking ban to performers in theatrical productions. What a freakin’ embarrassment. The aldermen ... More Kookiness in Chicago

Rizzo v. Thaler on "Libertarian Paternalism" at Econoblog

See here. My favorite line of the exchange comes from Rizzo in response to Thaler’s inclusion of private choices by firms to adopt automatic savings plans as examples of “libertarian paternalism”: “Is New Paternalism primarily about advising private individuals and firms? If so, why use a political term — libertarian — to identify it?  It ... Rizzo v. Thaler on "Libertarian Paternalism" at Econoblog

Twombly: Good, Bad, or Who Cares?

My apologies for the blogging hiatus. I’ve spent the last ten days grading, traveling, grading, being sick, and hanging out with family in sunny San Diego. But now the grading is done, I’m feeling better, and I’ve had an opportunity to do a little blog-speed catch up. I guess the biggest antitrust news is Twombly, ... Twombly: Good, Bad, or Who Cares?