Antitrust Law and Competition for Distribution
Thom recently posted about Judge Alito’s comments on the recent Lepage’s decision involving bundled discounts offered to retailers. There is presently much debate among antitrust scholars regarding the proper treatment of “above-cost” price cuts, such as the bundled discounts in Lepage’s. The anticompetitive theory in these cases is not that discounts mask what is effectively ... Antitrust Law and Competition for Distribution
SEC Executive Compensation Proposal Now Available
Click here for the SEC’s 370 page proposing release “Executive Compensation and Related Party Disclosure.” I think I’ll hold off on printing it out until I’m at work. [hat tip: Broc]
Are Buyout Funds Appropriating Profits?
Today’s NYT has a sobering article entitled Public Companies, Singing the Blues. The article discusses a question raised by Daniel Loeb, a famous hedge fund manager, at a dinner of buyout kings in Davos, Switzerland (the site of the World Economic Forum). Loeb’s question: “Why can buyout firms take public companies private and make enormous ... Are Buyout Funds Appropriating Profits?
On disclosure: The hydraulic theory
We know that people respond to incentives, and that behavior will adjust in response to relative changes in price. But I think it’s commonly assumed that the only relevant price change attributable to disclosure regulations is the nominal change in direct costs of compliance. Sure, we all understand that if shareholder or regulatory pressure is ... On disclosure: The hydraulic theory
Hedge Fund Registration Requirement
The hedge fund registration requirements debated extensively in the blawgosphere a few months back (see, e.g., here, here, and here) will take effect on Wednesday of next week. According to this article in the W$J, so far 530 hedge fund advisers have registered and a few hundred more are expected before Wednesday. Recent estimates put ... Hedge Fund Registration Requirement
The Perils(?) of Educating Judges on Economics
Yesterday’s New York Times editorialized on my favorite recent non-story — the one about Justice Scalia’s failure to attend the swearing-in ceremony of Chief Justice Roberts. C’mon guys. As lesser newspapers have already reported, Justice Scalia was in Colorado to teach a previously scheduled ten-hour seminar over two days. He received no honorarium for his ... The Perils(?) of Educating Judges on Economics
Disney/Pixar Deal and Omnicare
The Disney/Pixar deal is a hot topic in the blawgosphere (see, e.g., here, here, here and here), so I want to join in. I took a quick look at the transaction documents (they’re now available here on the SEC’s website) and noticed that Steve Jobs has executed a voting agreement (here) pursuant to which he ... Disney/Pixar Deal and Omnicare
Blogs Providing Truth on the Market
My initial post on this blog hailed the power of the blogosphere to correct half-truths asserted by professional journalists. From Russ Roberts (via Cafe Hayek), a case in point.
Taking Maytag and Whirlpool to the cleaners
Christine blogs about the Whirlpool-Maytag merger and its antitrust problems. Law Blog has the story, as well. Both mention the American Antitrust Institute which opposes (vehemently) the merger. In fact, the AAI has never met a merger it didn’t find anticompetitive, so its opposition should be taken with a grain of salt. Then again, I’ve ... Taking Maytag and Whirlpool to the cleaners
Tom Ulen returns to the blogosphere (and it's a good thing, too)
Rumblings of the imminent emergence of the soon-to-be-formidable Law and Econ Prof Blog today. Tom Ulen is joined by Jagdeep Bhandari. Another not-to-miss read. Now I’ll never get to look at the Economist again.
Maybe Hamas ain't so bad
Prof. B. writes with pronounced skepticism of and hostility to Hamas’ recent Palestinian parliamentary victory here. He sees this as a “decisive victory by a terrorist organization hostile to both the US and Israel,” and asks why anyone thinks this would be a good thing. Well, he’s right as a banal descriptive matter (Hamas is, ... Maybe Hamas ain't so bad
Golfing: Scholarship or Distraction?
Click here to read about the $38 million home Tiger Woods recently purchased. Maybe I should give up blogging so I have more time to work on my golf game.
