Why Charter Thinks Their Plan To Buy TWC Is Different Enough To Succeed Where Comcast Failed

Why Charter Thinks Their Plan To Buy TWC Is Different Enough To Succeed Where Comcast Failed

After months of rumors, this morning it became official: Charter plans to step in where Comcast failed, with a $55 billion plan to acquire Time Warner Cable. Regulators looked unfavorably on Comcast’s bid, finding it would have too many negative effects on consumers and on competition. But Charter clearly would not be trying its own takeover, with such a huge price tag, if they didn’t think they stood a good chance of success. So what makes the second offer so different from the first — and is it any more likely to succeed? [More]

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Senators Call For Attorney General Investigation Into Executives Of Corinthian Colleges

Bankrupt for-profit college chain Corinthian Colleges Inc. is already party to a number of state and federal investigations related to the alleged deceptive recruiting practices at its Heald College, WyoTech and Everest University campuses. Now, a group of senators are hoping to add another investigation to the roster. [More]

Black & Decker has agreed to pay a $1.57 million fine for failing to report issues with two of its electric lawnmowers to the CPSC.

Black & Decker To Pay $1.57M Penalty For Failing To Report Defects Of Lawnmower That Started On Its Own

Under federal law, manufacturers, distributors and retailers are required to immediately report information regarding possible safety defects to the Consumer Product Safety Commission within 24 hours of obtaining reasonable supporting evidence. That 24-hour window allegedly turned into 11 years for Black & Decker and now the company must pay a nearly $1.6 million fine for failing report safety issues related to an electric lawnmower that started spontaneously, injuring at least two consumers. [More]

There Are Two Things That Could Stop The Comcast/TWC Merger, And We Might Get Both

There Are Two Things That Could Stop The Comcast/TWC Merger, And We Might Get Both

Update: Comcast is reportedly planning to back out from the merger deal as early as tomorrow in the face of the likely opposition from both the FCC and Justice Department. [More]

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Morgan Stanley To Pay $2.6B To Settle Charges Of Selling Troubled Mortgages Leading Up To The Financial Crisis

The Department of Justice has struck a multi-billion dollar deal with Morgan Stanley in what is expected to be one of the last major steps in resolving investigations related to banks’ roles in the subprime mortgage crisis. [More]

Justice Dept. Digging Deep “In The Weeds” Of Broadband Issues In Comcast/TWC Merger

Justice Dept. Digging Deep “In The Weeds” Of Broadband Issues In Comcast/TWC Merger

Comcast and Time Warner Cable have been making the case for their merger nearly all year. The two companies talk up their TV programming sides a lot, but most watchers know that the merger — and the future — are really all about broadband, and that market is what Comcast is poised to control on a national scale. That potential dominance has worried not only businesses and consumer advocates, but also has apparently attracted the attention of the Justice Department as well. [More]

Consumer Advocates Urge Justice Dept. To Block Comcast/TWC Merger

Consumer Advocates Urge Justice Dept. To Block Comcast/TWC Merger

The FCC isn’t the only agency reviewing the Comcast/Time Warner Cable merger; the Antitrust Division of the Department of Justice is all over it, too. And while the full public doesn’t get to have its riotous say with the DoJ the same way we did with the FCC, businesses and consumer advocates can file in opposition (or support). Our colleagues down the hall at Consumers Union, the advocacy arm of Consumer Reports, have now officially chimed in to ask the DoJ to watch out for the interests of consumers, and block the merger. [More]

Dinners And Parties: Here’s Why Comcast Isn’t Worried About Getting The TWC Merger Approved

Dinners And Parties: Here’s Why Comcast Isn’t Worried About Getting The TWC Merger Approved

Comcast has been using every trick in the book to drum up approval for their pending merger with Time Warner Cable. They’re spending big on lobbyists, filling campaign coffers, relying on revolving doors, and strategically funding feel-good initiatives. But those are just icing on the cake. What really gives them confidence in their merger plan? The buddy-buddy relationship they’ve developed with regulators. [More]

Regulators: SunTrust Mortgage Must Provide $540M In Relief To Consumers Wronged By Shady Practices

Regulators: SunTrust Mortgage Must Provide $540M In Relief To Consumers Wronged By Shady Practices

Homeowners underwater with their mortgages and those who lost their homes to foreclosure could be seeing a bit of relief now that several federal agencies and state attorneys generals have filed an order requiring SunTrust Mortgage, Inc. to provide restitution for servicing wrongs. [More]

Here’s Why the Justice Dept. Should Block the Comcast and Time Warner Cable Merger

Here’s Why the Justice Dept. Should Block the Comcast and Time Warner Cable Merger

Comcast and Time Warner Cable have done their parade in front of the House and Senate to state their case publicly for why they should be allowed to merger into a truly massive mega-company. But now, it’s time for the investigation that really matters, as regulators at the FCC and the Department of Justice start looking into whether or not this deal is good for the public interest… or violates antitrust law. [More]

Uncle Sam, Pre-Marital Counselor: The Approval Process Ahead For Comcast And TWC

Uncle Sam, Pre-Marital Counselor: The Approval Process Ahead For Comcast And TWC

The proposed merger of Comcast and Time Warner Cable, as it currently stands, looks like it could be a good move for the businesses and a bad move for consumers. But right now it’s still just that: a proposed merger. In order for this corporate marriage to move forward, federal regulators first have to approve the union–and that’s where it gets tricky. [More]

Federal Government Releases Guidelines For Banks To Deal With Marijuana Businesses

Federal Government Releases Guidelines For Banks To Deal With Marijuana Businesses

One of the biggest worries marijuana businesses have in states like Colorado and Washington, where recreational use is now legal, was that they’d be shut out of financial institutions and be stuck with cash-only transactions. That worry is now likely allayed today as the federal government has given the go ahead for banks to offer services to the legal marijuana industry, as it said it would earlier this year. [More]

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U.S. Proposes Deal To Allow The American Airlines-US Airways Marriage To Finally Happen

An expensive wedding is by no means an unusual event these days, and when it comes to major airlines trying to get hitched, it’s no different. Just last week the Department of Justice was rumored to have a list of things it wanted the airlines to sell off if they wanted to walk down the aisle and now there’s a reported price for that wedded bliss. [More]

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Past Statements About Moneymaking Mergers Returning To Bite Airline Execs In The Behind

It appears that the Department of Justice has been doing its research and is pulling a bit of a “Remember when you said that thing about mergers hiking airline fares?” in its lawsuit seeking to block them merger of American Airlines and US Airways. Included in the 56-page lawsuit filed yesterday are quotes from internal emails as well as comments made in public by the airlines’ top executives touting the fact that past mergers have led to raised fares and more fees passengers have no choice but to pay. [More]

Elaaaaaaaaine!

DOJ Stands Up At Wedding Of American Airlines & US Airways Yelling “I Object!”

It’s been a long wait for lovebirds American Airlines and US Airways, and we’re basically at the point where the betrothed couple is standing up in front of friends and family, waiting to see if anyone will heed the call of the officiant asking if there’s any reason these two shouldn’t be wed. Enter the United States Justice Department, arriving at the ceremony in a way more timely manner than [SPOILER ALERT] Dustin Hoffman in The Graduate but still just as opposed to the nuptials. [More]

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DOJ Raises A Glass To Anheuser-Busch With Approval Of Grupo-Modelo Merger

A few weeks back it seemed likely that the Department of Justice would let loose a little and allow Anheuser-Busch InBev to merge with Grupo-Modelo, and now it’s official. The DOJ announced today that it had approved the merger after a settlement soothed its fears over anti-competitiveness. Or maybe Anheuser just kept plying it s new BFF with drinks until it agreed.* [More]

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Consumer Advocates To Senators: American Airlines & US Airways Merger Would Hurt Fliers

Today American Airlines and its betrothed, US Airways had to defend their proposed merger in front of a Senate hearing and several consumer advocates. Citing higher fares, reduced service to smaller communities in the U.S. and a loss of competition among carriers, opponents of the impending nuptials testified at a Judiciary Committee hearing that such a joint venture would hurt consumers. [More]

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Scammers Have Servicemembers In Their Sights: The DOJ Says It’s Time To Fight Back

Like all consumers, servicemembers of the United States can fall under the sway of scammers seeking to take ’em for all they’ve got. But due to their specific circumstances they’re often the focus of a wide range of fraudulent businesses and other predatory practices. [More]