|
Horizontal Merger Guidelines
Merger guidelines in the United States are a set of internal rules promulgated by the Antitrust Division of the Department of Justice (DOJ) in conjunction with the Federal Trade Commission (FTC). These rules have been revised over the past four decades. They govern the process by which these two regulatory bodies scrutinize and/or challenge a potential merger. Grounds for challenges include increased market concentration and threat to competition within a relevant market. The merger guidelines have sections governing both horizontal integration and vertical integration. History The first merger guidelines set forth by the DOJ were the 1968 Merger Guidelines. The guidelines were developed by former U.S. Assistant Attorney General Dr. Donald Turner, an economist and lawyer with expertise in the field of industrial organization. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Justice Antitrust Division
The United States Department of Justice Antitrust Division is a division of the U.S. Department of Justice that enforces U.S. antitrust law. It has exclusive jurisdiction over federal criminal antitrust prosecutions, and it shares jurisdiction over civil antitrust enforcement with the Federal Trade Commission (FTC). The Division is headed by an assistant attorney general, who is appointed by the president of the United States with the advice and consent of the Senate, and who reports to the associate attorney general. The current Assistant Attorney General for the Antitrust Division is Gail Slater. History On February 25, 1903, Congress earmarked $500,000 for antitrust enforcement. On March 3, 1903, Congress created the position of Antitrust AG, with a salary to be paid out of the funds earmarked for antitrust enforcement. The 1904 DOJ ''Register'' identified two professional staffers responsible for enforcement of antitrust laws, but the Division was not formally establ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of Productivity, output produced per unit of cost (production cost). A decrease in unit cost, cost per unit of output enables an increase in scale that is, increased production with lowered cost. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of Market (economics), market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Antitrust Law
In the United States, antitrust law is a collection of mostly federal laws that govern the conduct and organization of businesses in order to promote economic competition and prevent unjustified monopolies. The three main U.S. antitrust statutes are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914. Section 1 of the Sherman Act prohibits price fixing and the operation of cartels, and prohibits other collusive practices that unreasonably restrain trade. Section 2 of the Sherman Act prohibits monopolization. Section 7 of the Clayton Act restricts the mergers and acquisitions of organizations that may substantially lessen competition or tend to create a monopoly. The Robinson–Patman Act, an amendment to the Clayton Act, prohibits price discrimination. Federal antitrust laws provide for both civil and criminal enforcement. Civil antitrust enforcement occurs through lawsuits filed by the Federal Trade Commission (FTC), the Antitrus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law And Economics
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director, George Stigler, and Ronald Coase. The field uses economics concepts to explain the effects of laws, assess which legal rules are economically efficient, and predict which legal rules will be promulgated. There are two major branches of law and economics; one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law, and a second branch which focuses on an institutional analysis of law and legal institutions, with a broader focus on economic, political, and social outcomes, and overlapping with analyses of the institutions of politics and governance. History Origin The historical antecedents of law and economics can be traced back to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Depot
The ODP Corporation is an American office supply retailer headquartered in Boca Raton, Florida. The company operates 922 retail stores in the United States under the Office Depot and OfficeMax brands, as well as e-commerce sites and a business-to-business sales organization. The company has combined annual sales of approximately $7 billion, and employs about 45,000 people in the United States. History Office Depot was founded in by F. Patrick Sher, Stephen Dougherty, and Jack Kopkin, who became the company's chairman and chief executive officer, the president, and executive vice president respectively. All three were formerly associated with Mr. HOW Warehouse, a home improvement company that Sher sold to Service Merchandise in 1983. The first store, located at the Lakes Mall in Lauderdale Lakes, Florida, opened in October 1986. The company announced its initial public offering of stock, and went public in December 1988. Mergers and acquisitions In April 1991, it merged ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Staples Inc
Staples Inc. is an American Office supply retailing, office supply retail company headquartered in Framingham, Massachusetts. Founded by Leo Kahn (entrepreneur), Leo Kahn and Thomas G. Stemberg, the company opened its first store in Brighton, Massachusetts on May 1, 1986. By 1996, it had reached the Fortune 500, and it later acquired the office supplies company Quill Corporation. In 2014, in the wake of increasing competition from e-commerce market, Staples began to close some of its locations. In 2015, Staples announced its intent to acquire Office Depot and OfficeMax. However, the purchase was blocked under antitrust grounds due to the consolidation that would result. After the failed acquisition, Staples began to refocus its operations to downplay its brick-and-mortar outlets and place more prominence on its business-to-business (B2B) services. In 2017, after its sale to Sycamore Partners, the company was effectively split into three "independently managed and capitalized" e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SSNIP Test
In competition law, before deciding whether companies have significant market power which would justify government intervention, the test of small but significant and non-transitory increase in price (SSNIP) is used to define the relevant market in a consistent way. It is an alternative to ad hoc determination of the relevant market by arguments about product similarity. The SSNIP test is crucial in competition law cases accusing abuse of dominance and in approving or blocking mergers. Competition regulating authorities and other actuators of antitrust law intend to prevent market failure caused by cartel, oligopoly, monopoly, or other forms of market dominance. History In 1982 the U.S. Department of Justice Merger Guidelines introduced the SSNIP test as a new method for defining markets and for measuring market power directly. In the EU it was used for the first time in the ''Nestlé/Perrier'' case in 1992 and has been officially recognized by the European Commission in its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Attorney General
The state attorney general in each of the 50 U.S. states, of the District of Columbia, federal district, or of any of the Territories of the United States, territories is the chief legal advisor to the State governments of the United States, state government and the state's chief law enforcement officer. In some states, the attorney general serves as the head of a state department of justice, with responsibilities similar to those of the United States Department of Justice. Selection The most prevalent method of selecting a state's attorney general is by popular election. 43 states have an elected attorney general. Elected attorneys general serve a four-year term, except in Vermont, where the term is two years. Seven states do not popularly elect an attorney general. In Alaska, Hawaii, New Hampshire, New Jersey, and Wyoming, the attorney general is appointed by the governor. The attorney general in Tennessee is appointed by the Tennessee Supreme Court for an eight-year term. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of economics that studies the behavior of individuals and Theory of the firm, firms in making decisions regarding the allocation of scarcity, scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the economy as a whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce Economic efficiency, efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the total of economic activity, dealing with the issues of Economic growth, growth, inflation, and unemployment—and with national policies relati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William French Smith
William French Smith II (August 26, 1917 – October 29, 1990) was an American lawyer and the 74th United States Attorney General. After attaining his law degree from Harvard Law School in 1942, Smith went on to join the law firm of Gibson, Dunn & Crutcher LLP in 1946. Smith became acquainted with California governor candidate Ronald Reagan in 1966, after which Reagan appointed him to the University of California Board of Regents. Smith was nominated for U.S. Attorney General shortly after Reagan's victory in the 1980 United States presidential election, assuming the title on January 23, 1981, and serving until February 25, 1985. Smith contributed to Reagan's administration by supporting his stances on welfare, crime, bail, prison sentencing for gun-related crimes, the Internal Revenue Service, immigration, corporate mergers, anti-competitive practices, the Freedom of Information Act, and illegal drug trade. After his tenure as Attorney General, Smith went back to work fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Attorney General
The United States attorney general is the head of the United States Department of Justice and serves as the chief law enforcement officer of the Federal government of the United States, federal government. The attorney general acts as the principal legal advisor to the president of the United States on all legal matters. The attorney general is also a statutory member of the Cabinet of the United States and a member of the United States National Security Council. Additionally, the attorney general is seventh in the United States presidential line of succession, presidential line of succession. Under the Appointments Clause of the Constitution of the United States, United States Constitution, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the United States Senate Committee on the Judiciary, Senate Judiciary Committee, will take office if confirmed by the majority of the full United States Senate. The attorney gener ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
