Imagine the look on the DOJ attorney's face who searched the document production for "price fixing" -- just on the off chance it popped -- and found this, from the RealPage antitrust complaint:
- This is the main street of the small town where I grew up in Iowa. It's dealing with a lot of issues. Many of those issues are common in rural communities. None of them have anything to do with zoning ordinances or building-construction red tape.
- AAG Jonathan Kanter sent shockwaves thru the antitrust community yesterday by calling out corporate-funded advocacy dressed up as scholarship. I've seen a thing or two, but a recent experience w/ this left me shook. Check it out: 🧵 (1/x)
- Film distributors declining to distribute a documentary about unionization at Amazon warehouses due to fear of retaliation by Amazon's digital media arm:
- I'm beyond thrilled to share that I've taken on a new role with the @FTC! I'll be serving as deputy director of the Bureau of Competition, helping to enforce U.S. antitrust laws. Exciting days ahead!
- Kroger now claims it will cut prices by $1 billion post-merger, 2x the previous claim. Either (1) they magically discovered half a billion dollars' worth of extra efficiencies, or (2) they *already* wield pricing power... which the merger would increase.
- History will mark this as one of the most important merger policy changes by new-wave FTC leaders: willingness to mount litigated challenges against vertical mergers. 40+ years passed with zero such cases. In < 4 years, FTC has already blocked 3 and sued to block 2 more.FTC moves to block Tempur Sealy’s acquisition of Mattress Firm. The Commission votes 5-0 to challenge a vertical deal seeking to combine the world’s largest mattress supplier and manufacturer with the largest U.S. mattress retailer: bit.ly/4brciJC
- FTC just sued to challenge Kroger & Albertsons' mega-merger. Filed in Oregon, w/ bipartisan state coalition. From FTC's press release: the complaint alleges the deal may harm workers in labor markets. I think this is the first time in the agency's 110-year history it's done so.FTC challenges Kroger’s acquisition of Albertsons. Largest supermarket merger in U.S. history will eliminate competition and raise grocery prices for millions of Americans, while harming tens of thousands of workers, FTC alleges: bit.ly/3UUTjCu /1
- Worlds colliding: my parents from rural Iowa texted me out of the blue last night to say they're planning to drive ~1.5 hours today to see @FTC Chair Lina Khan at a listening event with farmers in Ames.
- FTC just roundly defeated the "Biggest Attack" on the agency in recent history ... and made antitrust history in the process, convincing three federal judges that a vertical merger is anticompetitive. Nice antidote to the mediocre hot takes that've been floating around lately.
- Replying to @ThorningMichaelLots and lots of causes. Here are a few. The main employer (a factory) got bought by an out-of-state company and moved its headquarters there, taking the highest-paying jobs with it. A dollar store moved in (w/ sweetheart incentives) and killed some locally owned businesses.
- Replying to @johnmarknewman and @ThorningMichaelThe town has spent tons of $ on a new jail + a heavy police presence, without a clear justification for either, instead of projects that might attract residents/businesses. Farming has generally become bigger business, which means fewer farmers per square mile.
- Thanks to @EpicGames & @TimSweeneyEpic, antitrust law is about to deliver concrete, material benefits to thousands of artists. Apple has been skimming 30% of all audience payments made via Patreon on iOS. But Patreon now has a plan to put that $$ back in creators' hands.
- Reading through the massive (200+ pages), landmark U.S. v. @Google #antitrust remedies opinion that just dropped. Will add reactions/thoughts below: 🧵 (1/x)
