Showing results for: “digital markets act”
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
Getting efficiencies right at the FTC: Commissioner Wright dissents in Ardagh/Saint-Gobain merger
FTC Commissioner Josh Wright pens an incredibly important dissent in the FTC’s recent Ardagh/Saint-Gobain merger review. At issue is how pro-competitive efficiencies should be considered by the agency under the Merger Guidelines. As Josh notes, the core problem is the burden of proof: Merger analysis is by its nature a predictive enterprise. Thinking rigorously about ... Getting efficiencies right at the FTC: Commissioner Wright dissents in Ardagh/Saint-Gobain merger
Why the Antitrust Realities Support the Comcast-Time Warner Cable Merger
I have a new article on the Comcast/Time Warner Cable merger in the latest edition of the CPI Antitrust Chronicle, which includes several other articles on the merger, as well. In a recent essay, Allen Grunes & Maurice Stucke (who also have an essay in the CPI issue) pose a thought experiment: If Comcast can ... Why the Antitrust Realities Support the Comcast-Time Warner Cable Merger
The premium natural and organic men’s apparel market
Last month the Wall Street Journal raised the specter of an antitrust challenge to the proposed Jos. A. Bank/Men’s Warehouse merger. Whether a challenge is forthcoming appears to turn, of course, on market definition: An important question in the FTC’s review will be whether it believes the two companies compete in a market that is ... The premium natural and organic men’s apparel market
The Revelations of GM’s Anti-Tesla Letter
As Geoff posted yesterday, a group of 72 distinguished economists and law professors from across the political spectrum released a letter to Chris Christie pointing out the absurdities of New Jersey’s direct distribution ban. I’m heartened that both Governor Christie and his potential rival for the 2016 Republican nomination, Texas Governor Rick Perry, have made statements, ... The Revelations of GM’s Anti-Tesla Letter
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.
Simplifying Small Firm Disclosure
An occasional reader brought to our attention a bill that is fast making its way through the U.S. House Committee on Financial Services. The Small Company Disclosure Simplification Act (H.R. 4167) would exempt emerging growth companies and companies with annual gross revenue less than $250 million from using the eXtensible Business Reporting Language (XBRL) structure ... Simplifying Small Firm Disclosure
Dealer protectionism in New Jersey
Last summer I blogged here at TOTM about the protectionist statutes designed to preempt direct distribution of Tesla cars that are proliferating around the country. This week, New Jersey’s Motor Vehicle Commission voted to add New Jersey to the list of states bowing to the politically powerful car dealers’ lobby. Yesterday, I was on Bloomberg’s ... Dealer protectionism in New Jersey
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
McWane: Structure Isn’t Enough
A particularly unsettling aspect of the FTC’s case against McWane is the complaint counsel’s heavy (and seemingly exclusive) reliance on structural factors to prove its case. The FTC has little or no direct evidence of price communications and no econometric evidence suggesting collusion, and has instead spent a good deal of time trying to show ... McWane: Structure Isn’t Enough
McWane: Why Have An Administrative Law Judge?
Two modest offices on the first floor of the FTC building are occupied by the FTC Administrative Law Judge and his staff. Of all of the agencies with an ALJ, the FTC’s operation must be the smallest. The ALJ handles only a handful of trials each year. In the past, the FTC ALJ operation has ... McWane: Why Have An Administrative Law Judge?
