“The Federal Trade Commission commends Apple and Eric Schmidt’s decision on their parting of the ways this morning, but it appears that the federal investigation into the so-called “interlocking directorates” will continue, and that cannot be good news for either company,” jim Goldman reports or CNBC. “In a statement released this afternoon, FTC Bureau of Competition Director Richard Feinstein says:”
On August 3, 2009, Apple announced that Eric E. Schmidt, Chief Executive Officer of Google, was stepping down from its board. “We have been investigating the Google/Apple interlocking directorates issue for some time and commend them for recognizing that sharing directors raises competitive issues, as Google and Apple increasingly compete with each other,” said Bureau of Competition Director Richard Feinstein. “We will continue to investigate remaining interlocking directorates between the companies.”
The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action.
Goldman writes, “That’s a big time bummer for Apple and Google, both of which are facing various levels of federal inquiry. Neither needs to be attracting more government attention, and the statement by the FTC just goes to show how late Apple and Google were in recognizing the conflicts of interest Schmidt’s ongoing role on Apple’s board posed… Former Genentech CEO Arthur Levinson still serves on both boards. I don’t see that continuing very much longer and it sure will be interesting – and send a very intriguing message – when he ultimately chooses one board over another. Same goes with Al Gore.”
Read more in the full article here.
William Ashley and themotie, et al
As my Grandpappy Kelly used to say, “This a private fight, or can anybody join?”
For the last 30 years been a lot of talk – “Government is not the Solution, but the Problem”
Yes it is – if you’re Microsoft, or Enron, or Wall Street, or Big Banks
This is American – WE are the Government, We The People
And WE are tired of Wall Streeters or Microsofters screwing things up for rest of us while they get richer
So WE, on occasion, pass Laws and Regulations to do what they won’t – control their damn gluttonous greed
And yes, that is “socialism” – this is the place that invented it – Yes, USA was first Socialist Country in History
(you may have heard about it, was in all the papers
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And if anyone doesn’t want We The People to control those guys and their wanton ways ?
No problem, in about 3 years and 3 months we get to do another unique thing in World History
Something else we invented – called an Election (you may have heard about it, was in all the papers
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And you have every Right to allow them back into Power and continue the path they put us on 30 years ago
As we got Government off their backs and let them almost Bankrupt the rest of us
But beware – next time we may not be so lucky
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BC
With discussions like this it is clear MDN is highly polluted.
Schmidt needed to go because he was CEO of Google. Either that or invite Steve to their board. The others do not have such a vested stake.
@ NCIceman – Thank you for that breath of on-topic sanity!
@ BC Kelly – Respect!
Oh, sorry, serious Head Up Historical Ass
We – USA – did not invent Elections, D’oh …
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Was Hellenic Republic (Bubba, you know them as the Greeks)
They invented a lot of “things”
BC
And Ichabod, ty, I think?
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And although USA as a Country may have invented “Socialism”
Many argue the idea/practice/reality – its Invention
Christian Movement in 1st Century CE/AD