Who’s Afraid of Big Media?
The Federal Communications Commission (FCC) and the United States Justice Department today approved a merger of Comcast, the nation’s largest cable and Internet provider, with NBC Universal which is owned mostly by General Electrics (GE). Comcast and GE announced their buyout agreement for NBC in December 2009. Comcast intends to own 51 percent of NBC while GE will retain 49 percent of its shares. Regulators | Read More »
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Nationalizing Airports Because Of a Bit of Snow?
Well, not a bit of snow actually. Some tens of thousands of travelers were stranded at the London airports because of the poor weather conditions there. No wonder that Britain’s leftist newspaper The Guardian favors renationalization then. According to The Guardian‘s Neil Clark even before last weeks terrible delays, Britain’s privatized airports, “with their shortage of public seating, their lack of reasonably priced food and | Read More »
OMB Director Candidate Says Deregulation Didn’t Cause Crisis
The Huffington Post reports that former Citigroup executive Jacob Lew, the administration’s nominee to lead the Office of Management and Budget, told Senate Budget Committee this Thursday that deregulation was not exclusively to blame for the financial meltdown and recession. Lew was asked by Senator Bernie Sanders of Vermont whether he believed that the “deregulation of Wall Street, pushed by people like Alan Greenspan [and] | Read More »
Obama Denies Vilifying Business
President Barack Obama denied vilifying businesses at a CNBC town hall event in Washington DC on Monday. He praised the free market system instead, claiming that he wants government to “get out of the way” of innovation and job creation. The president has been criticized fiercely in recent months from both within the business community and the Republican opposition about his apparent war on capitalism. | Read More »
Speaking Up for American Capitalism
Amid all the anticapitalist rhetoric espoused by policy and opinion makers alike, few businessmen dare rise up to the challenge and defend the free market outright. Gregg Sherrill, Chairman and CEO of Tenneco, Inc. is a notable exception. With capitalism under persecution worldwide, the business community has in part itself to blame. As accusations of greed and selfishness are thrown around, renowned bankers and captains | Read More »