As congress usually alters our tax structure to “improve” free enterprise competition, why do we end up with monopolies, oligopolies and mergers that lose jobs?
" …
Disney’s $52.4 billion deal to acquire a significant portion of 21st Century Fox has earned the blessing of President Trump, though he reportedly first needed to be assured that Fox News wouldn’t change hands.White House press secretary Sarah Sanders said Thursday that Trump had spoken with Rupert Murdoch, the billionaire patriarch of the Fox empire, to congratulate him on the sale.
…
In announcing the deal, the companies said they would save at least $2 billion by making their businesses more efficient. They didn’t specify how they plan on saving money, but mergers between competitors often involve job cuts because of overlap in job functions.
Rich Greenfield, a BTIG analyst, said he expects most of these savings to come from layoffs.
“There will be thousands of jobs lost,” he said. “It is hard to see how any meaningful job creation will come out of this.”
Needham & Co. analyst Laura Martin agreed, saying job cuts are inevitable in the short term as the two companies work to consolidate their holdings.
Whatever happened to the Anti-trust laws? Not that we exactly need them, since nobody trusts the Gummit now, anyway. (Yes, yes, I know I’m using the term in two different ways. My first question remains.)
Radish the wordsmith over 6 years ago
But the CNN deal was too much for the prejudiced president to deal with.
superposition over 6 years ago
As congress usually alters our tax structure to “improve” free enterprise competition, why do we end up with monopolies, oligopolies and mergers that lose jobs?
" …
Disney’s $52.4 billion deal to acquire a significant portion of 21st Century Fox has earned the blessing of President Trump, though he reportedly first needed to be assured that Fox News wouldn’t change hands.White House press secretary Sarah Sanders said Thursday that Trump had spoken with Rupert Murdoch, the billionaire patriarch of the Fox empire, to congratulate him on the sale.
…
In announcing the deal, the companies said they would save at least $2 billion by making their businesses more efficient. They didn’t specify how they plan on saving money, but mergers between competitors often involve job cuts because of overlap in job functions.
Rich Greenfield, a BTIG analyst, said he expects most of these savings to come from layoffs.
“There will be thousands of jobs lost,” he said. “It is hard to see how any meaningful job creation will come out of this.”
Needham & Co. analyst Laura Martin agreed, saying job cuts are inevitable in the short term as the two companies work to consolidate their holdings.
…"
http://money.cnn.com/2017/12/14/media/donald-trump-rupert-murdoch-disney-21st-century-fox/index.html
Radish the wordsmith over 6 years ago
Steve Schmidt Nicole Wallace Ravage FOX Propaganda: “There’ll Be People With Blood On Their Hands”
DaBoogadie over 6 years ago
Competition is good, but if you can kill it…better.
Mr. Blawt over 6 years ago
Just wait until they own your internet and decide content for you.
Radish the wordsmith over 6 years ago
What Fake News will you show me today, Mr. Mouse?
Dani Rice over 6 years ago
Whatever happened to the Anti-trust laws? Not that we exactly need them, since nobody trusts the Gummit now, anyway. (Yes, yes, I know I’m using the term in two different ways. My first question remains.)