Obama's U.S. Justice Department antitrust prosecutor Christine Varney, in similar talks before the U.S. Chamber of Commerce and the liberal People for the American Way, says she's junking late-Bush-era limits on corporate anti-competition prosecutions; she plans to enforce the old Sherman Antitrust Act "vigorously". Remarks here.
This is a further rejection (after Alan Greenspan's startling admissions last winter) of the idea that markets can more or less regulate themselves. But what we really want to know is, whose scalps are the Obama people going after?
Trust-busting has a long and intermittent history, from the government break-ups of Standard Oil in the early 1900s, the old DuPont Co. in 1916, to the fights against AT&T and IBM in the 1960s and 70s, Microsoft in the 1990s.
Possible targets for Obama's trust-busters:
- Google. It's the Microsoft or IBM of this era, grabbing other companies' content for free (including newspapers!) and profiting hugely by selling ads on it. Should the government force Google to share the wealth?
- Telecom. Cable TV companies like Comcast argue they've lost their local monopolies to phone-company, satellite-TV and increased online competition. But a raft of cable practices - like control of local pro sports coverage in Philadelphia - could attract activist Fed scrutiny.
- Ticketmaster. The sports-and-shows gatekeeper is deeply unpopular, according to Consumer Reports' latest Consumerist.com unscientific survey, for the extra fees it tacks on, at a time when online upstarts like Philadelphia's TicketLeap.com can get the job done way cheaper. Attacking Ticketmaster while it's trying to absorb show promoter LiveNation would be a crowd-pleaser, at least.
- Health insurance. Doctors in Pennsylvania derailed a money-saving Philadelphia-Pittsburgh Blue Cross merger when they convinced Insurance Commissioner Joel Ario it would give Blue too much power. If that's really a problem, shouldn't the feds be probing this powerful, expensive industry? But we suspect that would conflict with Obama's other goal -- higher efficiency in the woefully administration-heavy medical care industry.
And of course Intel, which has its own antitrust problems in Europe, story here.
Comment removed.
Nice job linking these anti-trust efforts together, Joe. In ticketing, open competition from companies like TicketLeap will eventually force TicketMaster and the larger players to change their ways or lose their market leadership.— bjennelle- I wrote to our new Democratic Senator last week about the Comcast thing, thinking that perhaps is a good time to address the issue. No answer from him yet, but not holding my breath.— LHart
- philly10 they own the Flyers and Sixers. The pillies air on the CW which anyone can get. Why give the games to the competition? oh thats right I forgot Obama is turning us into a socialist country and capitalism is dying, that's why.— Tankmare
- Comcast is a company that needs a good whipping in to shape. We paid for the stadium, let's see those games!— comin4ya23
- Tankmare, the Phillies (or pillies) are on Comcast SportsNet 75+% of the time. They do air on myphl (not CW) or a national network once or twice a week. But just like the Flyers and Sixers, the vast majority of their games are on CSN and therefore not available to satellite customers. I guess it's cool to make up facts though when your only goal is taking a shot at Obama and his "socialist" policies.— Potus415
- Comcast is not even close to a monopoly. I wrote my senator recently to not worry about such baseless claims by sensationalist citizens that have nothing better to do then complain about Comcast. These people should get a job and write congress about the real monopoly, Verizon.— Capsulef
- Comcast IS a monopoly for many of us who cannot choose satellite for various reasons, FIOS not available yet. Therefore Comcast is allowed to keep increasing prices, keep decreasing channels, and keep having the Worst Customer Service. Looking forward to seeing Comcast knocked down a lot of pegs.— pal
- Thank God someone if finally going after the thieves at Comcast & Ticketmaster who strong arm an extra $9 in "convenience fees" per ticket when you want to go to a concert, ball game etc. Those companies got rich off of gangster tactics and now it is time for them to pay!— oldhead215
- Comment removed.
- Greed is Good!— Superbowless Eagles
- Other than pleading guilty to criminal charges to price-fixing on behalf of its rubber venture in recent years, the tattered and much shrunken DuPont Company doesn't represent much of a monopolistic threat in the 21st century. Natural market forces and stunningly bad management are sending this once great chemical enterprise into the dustbin of business history! ...funfun..— funfundvierzig
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