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Labor market impact of the proposed Sprint–T-Mobile merger | Economic Policy Institute
in the 50 most affected labor markets, we predict that weekly earnings will decline by $63 on average (across markets) using the specification with the largest magnitude, and $10 on average using the smallest-magnitude specification. These weekly earnings declines correspond to annual earnings declines of as high as $3,276 (or $520 under the smallest-magnitude specification).
antitrust  monopsony  monopoly 
22 hours ago by brycecovert
Federal Judge Voices Concerns About Justice Dept. Approval of CVS-Aetna Deal - WSJ
U.S. District Judge Richard Leon—who was a central figure in AT&T Inc.’s merger with Time Warner Inc.—made clear he would play an active role. He said at a terse hearing Monday—in which he sought no input from either the Justice Department or the companies—that he was concerned that the department hadn’t adequately addressed the potential competitive harms raised by the merger.
14 days ago by brycecovert
Antitrust, the App Store, and Apple
This is, to be sure, a narrative worth telling, at least when it comes to the stock price: Apple’s PE ratio, even with the recent slide in the stock price, is up 50% from that January 2016 call (two months ago it was up 100%). Investors believe — for good reason — that Apple can earn sustainable profits from something other than new devices (the company’s recent stock slide, interestingly, seems to have come from Apple insistence that its reporting emphasize revenue over unit sales).

At the same time, it seems incredibly worrisome to me anytime any company predicates its growth story on rent-seeking: it’s not that the growth isn’t real, but rather that the pursuit is corrosive on whatever it was that made the company great in the first place. That is a particularly large concern for Apple: the company has always succeeded by being the best; how does the company maintain that edge when its executives are more concerned with harvesting profits from other companies’ innovations?
apple  stratechery  antitrust 
20 days ago by elrob
Supreme Court could allow suit over Apple iPhone apps' sales • The New York Times
<p>The issue before the high court at this early stage of the suit is whether the case can proceed at all. Justice Stephen Breyer, who used to teach antitrust law at Harvard Law School, said the consumers' case seemed straightforward and in line with a century of antitrust law.

Apple argues it's merely a pipeline between app developers and consumers, and that iPhone users have no claims against Apple under federal laws that prohibit unfair control of a market.

Tens of thousands of software developers set the prices and agree to pay Apple a 30 percent commission on whatever they sell, the lawyer representing Apple said in the courtroom. If anyone should be able to sue Apple, it's a developer, Daniel Wall said. "There have been plenty of disputes, but none has ever gone to litigation," he said.

Chief Justice John Roberts was alone among the nine justices who seemed prepared to agree with Apple.

Among the justices who appeared to be on the other side, Justice Elena Kagan said consumers appear to have a direct relationship with Apple. "I pick up my iPhone. I go to Apple's App Store. I pay Apple directly with credit card information that I've supplied to Apple. From my perspective, I've just engaged in a one-step transaction with Apple," Kagan said.

Justice Brett Kavanaugh said if consumers are paying more than they should, then perhaps they should be able to sue. The relevant federal antitrust law says "any person injured" can sue, Kavanaugh said.

His comments could align him with justices who would allow the suit to proceed. In other cases, the court has ruled there must be a direct relationship between the seller and a party complaining about unfair, anti-competitive pricing.</p>

Decision expected by late spring. In general, how difficult the judges' questions are has an inverse or zero relationship to how the decision falls. But journalists love to think they've glimpsed a tell.
apple  app  antitrust 
21 days ago by charlesarthur

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