Corporate & Securities Law

Good Stuff (Including Josh Wright) on Intel in Today’s WSJ

Our own Josh Wright is quoted in the lead article in today’s Wall Street Journal. Josh opines that the European Union’s record $1.45 billion fine against Intel for lowering its prices on granting “exclusionary” rebates on microprocessors means that FTC action against Intel is “much more likely than it was two weeks ago.” And what about our reinvigorated DOJ, Josh? Aren’t they going to want a piece of this action, lest they look like pansies next to those muscular South Koreans, Europeans, and FTC folk?

The Journal’s editorial page eloquently criticizes the Intel decision and bemoans DOJ’s decision to move in the European direction in regulating dominant firms. We’ve written some similar criticisms of the campaign against Intel. See, for example:

A quick note on Intel

Cuomo Goes After Intel (to Get AMD Plant for NY?)

Intel’s Loyalty Rebates: Why the Interventionists Are Wrong

NYT’s Freudian Slip

As you can see from these posts, I generally agree with the WSJ’s (and Geoff’s) take on Intel. I also agree that the Europeanization of American antitrust enforcement is a bad thing. I must confess, though, that I do see a silver lining in all this: It provides lots of fodder for us antitrust folks who believe that big does not necessarily mean bad and that consumers, not competitors, should be the focus of the law.

Full post as published by Truth on the Market on May 14, 2009 (boomark / email).