January 18, 2002 |
Federal antitrust authorities abruptly canceled plans Thursday to announce changes in the way they review media and technology company mergers after some members of Congress and the Federal Trade Commission voiced concern over the reorganization. Industry and government officials close to the FTC had said earlier that the Justice Department planned to assume sole responsibility for reviewing mergers of companies in the software, telecommunications and entertainment businesses.
August 25, 2001 |
AmeriSource Health Corp.'s $4.1-billion purchase of rival Bergen Brunswig Corp. to form the largest U.S. drug wholesaler was cleared Friday by U.S. antitrust enforcers, who said the combination probably will lead to lower prices. The combination of No. 3 Bergen Brunswig, based in Orange, with No. 4 AmeriSource, based in Valley Forge, Pa., will be called AmeriSource-Bergen Corp. The Federal Trade Commission voted 5-0 not to challenge the acquisition.
May 17, 2001 |
Antitrust scholar Timothy J. Muris, who was nominated last month by President Bush to head the Federal Trade Commission, sailed through his Senate confirmation hearing Wednesday, vowing to make Internet privacy and price gouging by gasoline stations two of his top priorities.
September 19, 2002 |
Ending a battle with America's biggest bank, the Federal Trade Commission today is expected to announce a settlement of its lawsuit alleging that a Citigroup Inc. lending unit misled and cheated customers, sources said Wednesday. Although admitting no wrongdoing, sources said, Citigroup will pay more than $200 million to settle the FTC suit.
August 22, 2001 |
AmeriSource Health Corp.'s purchase of drug wholesaler Bergen Brunswig Corp. will be cleared by the U.S. government even though it blocked 1998 plans to fold the industry's top four companies into two, antitrust analysts predict. The Federal Trade Commission has until Monday to decide whether to challenge the $3.9-billion acquisition, which would form the largest U.S. drug wholesaler.
September 25, 2003 |
In a surprise ruling that congressional leaders vowed to overturn, a federal court in Oklahoma has invalidated a "do-not-call" telemarketing registry that was set to take effect next week. U.S. District Court Judge Lee R. West ruled that the Federal Trade Commission, which created the list this summer to help people block unwanted phone solicitations, did not have sufficient authorization from Congress to proceed. More than 50 million people signed up for the list.
March 22, 2002 |
An Irvine lender's settlement of charges that it systematically cheated 18,000 home equity borrowers will result in refunds of $60million--the largest punishment for "predatory" home loan practices in history, consumer protection officials said Thursday. The settlement comes in the October 2000 lawsuit filed against First Alliance Corp. by the Federal Trade Commission, a suit later joined by California and five other states.
June 16, 2004 |
Spammed if we do, spammed if we don't. Following that reasoning, the Federal Trade Commission on Tuesday rejected a plan to create a "do-not-e-mail" list modeled after the popular "do-not-call" registry that keeps telemarketers at bay. In a 5-0 vote, the FTC decided that the proposed list would entice spammers to send more junk e-mail, not less. Many e-mail marketers flout the federal and state anti-spam laws already on the books.
CALIFORNIA | LOCAL
March 21, 2001 |
Stock-trading advisor Timothy Cho of Irvine was named Tuesday to a national business panel, one day after federal regulators sued him for false and misleading advertising. U.S. Rep. Tom DeLay (R-Texas) appointed Cho as one of 15 business executives from California named to the Republican Business Advisory Council, which is part of the National Republican Congressional Committee. The panel advises GOP leaders on business reform.
April 8, 2004 |
The Federal Trade Commission said Wednesday that it was evaluating whether Shell Oil Co.'s plan to close its Bakersfield refinery raised antitrust or unfair competition concerns, but the agency stopped short of launching a formal investigation. The commission said it would conduct the review in a letter to Sen. Ron Wyden (D-Ore.), who had asked the FTC to investigate the planned closure, arguing that it would limit competition and raise gasoline prices for West Coast consumers.