Things we're reading today include:
And an interesting comment from Intel's retiring Chairman Craig Barrett, after being hit by a $1.45 billion fine for anti-competitive practices by the European Commission:
"The antitrust rules and regulations seem designed for a different
"When you look at high-tech companies, with the high R&D
budgets, specialization and market creation they need to hold their big
market shares, it's so very different from the old world of oil
companies and auto makers that the antitrust regulations were designed
for. They are out of sync with reality.
"And how do you reconcile European regulators, who don't believe
that any company should have more than 50% market share — even a
market that company created — with the way we operate here?
now it seems as if our Justice Department is preparing to march in
lock-step behind Europe. In the end, all they are going to do is create
barriers to companies growing, entering into new markets, and bringing
new technologies into those markets."
This is interesting, particularly as Tim Geithner's about to radically overhaul US financial regulations. Maybe we should be encouraging monopolies in high risk markets?