• Avid Amoeba@lemmy.ca
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    20 hours ago

    Working class Trump voters must be forming a bit of shocked Pikachu faces that their favorite price gougers are gonna be merging.

    I’m just kidding, this news won’t reach Fox.

  • djsoren19@yiffit.net
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    1 day ago

    Of all the terrible things he’ll do, this one was at least happening either way. Lina Khan was also on the shitlist of all the billionaires supporting Harris, with supposed “good billionaires” like Mark Cuban directly calling for her removal.

    It was a nice 4 years of having a functional FTC, but it immediately scared the ruling class enough that it had no hope of survival.

    • Cosmonauticus@lemmy.world
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      1 day ago

      Nothing I hate more than ppl claiming there are “good” billionaires. A good billionaire would spend all their money lobbying congress to stop billionaires from being a thing in general

  • orclev@lemmy.world
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    1 day ago

    War on mergers? What in the absolute fuck are they going on about? Our government has never been more friendly to mergers. We need to be breaking corporations up left right and center not approving more mergers.

    These fuckers aren’t going to be happy until there’s just one mega corp that owns literally everything (including the government).

    • Voroxpete@sh.itjust.works
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      21 hours ago

      This is just straight up misinformation. Lina Khan’s FTC was extremely hostile to large mergers, frequently suing to stop them, and that’s a very good thing. They also were working on several large antitrust cases, including one that they won against Google. They are literally in the process of breaking up a monopoly as I write this.

      All of that is going to get flushed down the fucking toilet now that the Republicans are back in. Good job America.

    • skuzz@discuss.tchncs.de
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      1 day ago

      These fuckers aren’t going to be happy until there’s just one mega corp that owns literally everything (including the government).

      “We’re calling the corporation: X”

    • Psychodelic@lemmy.world
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      1 day ago

      I get what you’re saying, there’s been way too much consolidation in way too many industries.

      That said, there have been quite a few mergers that have been blocked in the last 4ish years or so, to my surprise and pleasure. Albertsons-Kroger is the recent big one that in the news. JetBlue + Spirit were also blocked, and so was Penguin Random House + Simon & Schuster. Apparently, UnitedHealth wanted to merge with another insurance company and that was blocked as well

      Granted, it’s worth remembering: any examples of things they don’t like will always be blown out of proportion, by the right, and made to seem as though the sky is falling.

      Found this quote, which seems legit, tho the website seems a bit sketchy.

      This year, regulatory bodies, particularly the US Federal Trade Commission (FTC) and the Department of Justice (DOJ), have been actively scrutinizing merger deals to maintain market competition. Albertsons’ $25 billion merger with Kroger was halted, underscoring the FTC’s commitment to prevent monopolistic behaviors. Similarly, JetBlue and Spirit Airlines pulled back their $3.8 billion deal following a judicial decision highlighting anti-competitive issues. In the luxury sector, Tapestry’s attempt to acquire Capri was nixed by a court decision driven by an FTC lawsuit. Meanwhile, Avangrid’s acquisition of PNM Resources hit a dead end without regulatory approval, and UnitedHealth Group’s planned $3.3 billion takeover of Amedisys is facing DOJ lawsuits over competition concerns in home health services.

      Source: https://finimize.com/content/regulators-put-brakes-on-major-merger-deals-in-2024

  • Bronzebeard@lemm.ee
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    1 day ago

    They’re just inventing grievances now. It’s so rare that any huge merger actually gets stopped, it’s insane. We need more trust busting not less

  • Psychodelic@lemmy.world
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    1 day ago

    Yo, if anyone’s interested, Hasanabi just posted a great video on YouTube interviewing Lina Kahn, the FTC commissioner. Very timely and relevant and super informative

    Edit: oops, accidentally replied twice