Lambert and Sykuta Talk Tesla in the Kansas City Star
Mike Sykuta and I, both proud Missourians, recently took to the opinion section of the Kansas City Star to discuss pending state legislation that would bar automobile manufacturers from operating their own retail outlets in the Show Me state. The immediate target of the bill is Tesla, but the bigger concern of the auto dealers, who drafted the statutory language we criticize, ... Lambert and Sykuta Talk Tesla in the Kansas City Star
Commissioner Wright Nails It on Minimum RPM
FTC Commissioner Josh Wright is on a roll. A couple of days before his excellent Ardagh/Saint Gobain dissent addressing merger efficiencies, Wright delivered a terrific speech on minimum resale price maintenance (RPM). The speech, delivered in London to the British Institute of International and Comparative Law, signaled that Wright will seek to correct the FTC’s ... Commissioner Wright Nails It on Minimum RPM
Murray L. Weidenbaum, R.I.P.
The world of economics and public policy has lost yet another giant. Joining Ronald Coase, James Buchanan, Armen Alchian, and Robert Bork is a man whose name may be less familiar to TOTM readers but whose ideas have been hugely influential, particularly on me. As the first chairman of President Reagan’s Council of Economic Advisers, ... Murray L. Weidenbaum, R.I.P.
So What’s Going to Happen to Securities Fraud Class Actions? Some Thoughts on Halliburton
On Wednesday, the U.S. Supreme Court heard oral argument in Halliburton v. Erica P. John Fund, a case that could drastically alter the securities fraud landscape. Here are a few thoughts on the issues at stake in the case and a cautious prediction about how the Court will rule. First, some quick background for the ... So What’s Going to Happen to Securities Fraud Class Actions? Some Thoughts on Halliburton
Commissioner Wright’s McWane Dissent Illuminates the Law and Economics of Exclusive Dealing
Commissioner Josh Wright’s dissenting statement in the Federal Trade Commission’s recent McWane proceeding is a must-read for anyone interested in the law and economics of exclusive dealing. Wright dissented from the Commission’s holding that McWane Inc.’s “full support” policy constituted unlawful monopolization of the market for domestic pipe fittings. Under the challenged policy, McWane, the ... Commissioner Wright’s McWane Dissent Illuminates the Law and Economics of Exclusive Dealing
Why the New Evidence on Minimum RPM Doesn’t Justify a Per Se or Quick Look Approach
Mike Sykuta and I recently co-authored a short article discussing the latest evidence on, and proper legal treatment of, minimum resale price maintenance (RPM). Following is a bit about the article (which is available here). Despite the U.S. Supreme Court’s Leegin decision holding that minimum RPM must be evaluated under antitrust’s Rule of Reason, the ... Why the New Evidence on Minimum RPM Doesn’t Justify a Per Se or Quick Look Approach
My Con Law Prof Flubs the Constitution…Again.
Once again, my constitutional law professor has embarrassed me with his gross misunderstanding of the U.S. Constitution. First, he insisted that it would be “unprecedented” for the U.S. Supreme Court to overturn a statute enacted by a “democratically elected Congress.” Seventh-grade Civics students know that’s not right, but Mr. Obama’s misstatement did have its intended ... My Con Law Prof Flubs the Constitution…Again.
Commissioner Wright’s Call for Section 5 Guidance Getting Attention on Capitol Hill
Late this summer, TOTM hosted a blog symposium on potential guidelines for the Federal Trade Commission’s exercise of its “unfair methods of competition” authority under Section 5 of the FTC Act. Commissioner Josh Wright inspired the symposium by proposing a set of enforcement guidelines for the Commission. Shortly thereafter, Commissioner Maureen Ohlhausen proposed her own guidelines, which were largely consistent with ... Commissioner Wright’s Call for Section 5 Guidance Getting Attention on Capitol Hill
What Would the Consumer Financial Protection Bureau Say About Healthcare.gov?
In yesterday’s hearings on the disastrous launch of the federal health insurance exchanges, contractors insisted that part of the problem was a last-minute specification from the government: the feds didn’t want people to be able to “window shop” for health insurance until they had created a profile and entered all sorts of personal information. That’s ... What Would the Consumer Financial Protection Bureau Say About Healthcare.gov?
My New Paper on Defining Exclusionary Conduct
In our recent blog symposium on Section 5 of the FTC Act, Latham & Watkins partner Tad Lipsky exposed one of antitrust’s dark little secrets: Nobody really knows what Sherman Act Section 2 forbids. The provision bans monopolization, attempted monopolization, and conspiracies to monopolize, and courts have articulated formal elements for each claim. But the ... My New Paper on Defining Exclusionary Conduct
Section 5 Symposium — End of Day One, But More to Come
Regulating the Regulators: Guidance for the FTC’s Section 5 Unfair Methods of Competition Authority August 1, 2013 Truthonthemarket.com We’ve had a great day considering the possibility, and potential contours, of guidelines for implementing the FTC’s “unfair methods of competition” (UMC) authority. Many thanks to our invited participants and to TOTM readers who took the time to follow today’s ... Section 5 Symposium — End of Day One, But More to Come
Thom Lambert on Guidelines for the FTC’s UMC Authority: What’s Clear and What’s Not?
In the last few weeks, two members of the FTC—Commissioners Josh Wright and Maureen Ohlhausen—have staked largely consistent positions on guidelines for implementation of the Commission’s “unfair methods of competition” (UMC) authority. Their statements make two points that are, in my opinion, no-brainers. Where the statements conflict, they raise an issue worthy of significant contemplation. ... Thom Lambert on Guidelines for the FTC’s UMC Authority: What’s Clear and What’s Not?
