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]
mergers
GAO: American-U.S. Airways Merger Will Reduce Competition
By 6.20.13
We’ve been following the proposed hook-up/merger of American Airlines and U.S. Airways for what seems like forever, but those two crazy kids aren’t out of the woods yet, so far as approvals go. And a new report by congressional watchdogs over at the Government Accountability Office could play a part in the Justice Department’s review of that marriage. It says if the companies smush themselves together, it’ll reduce competition in a whole lot of airports. [More]
Nation’s Two Largest Funeral Companies To Merge, Form Bereavement Voltron
By 5.29.13 — Updated: 1.2.14
Back in 2008, Service Corporation International, the nation’s largest funeral-service company, made a bid to acquire the second-largest company, Stewart Enterprises Inc. The smaller company rebuffed its suitor, but reconsidered after an offer this year. The two companies will now form one large mega-death-services-corporation just as baby boomers are about to consider planning–and more importantly, pre-paying for–their funerals. [More]
Verizon Wireless’ Parents Vodafone & Verizon Deciding Whether To Get Married Or Break Up
By 3.5.13
Listen, Verizon Wireless: Let’s make one thing clear — even if mommy and daddy break up, it’s not your fault. Actually, it would be but that’s just business. Verizon Communications and Vodafone have a joint venture in Verizon Wireless as it stands right now, but they’re trying to figure out whether to just merge or end the whole arrangement. [More]
Office Depot Announces It’s Buying OfficeMax For $1.2B Then Is Like, “Wait, Never Mind”
By 2.20.13
UPDATE: Despite Office Depot’s apparent squirrelliness about announcing its upcoming nuptials to OfficeMax, its intended isn’t being shy. Far from it — the company emailed all its reward cards holders today and trumpeted news of the union on its corporate site. [More]
Should OfficeMax And Office Depot Just Merge Already?
By 11.7.12
Unemployment is still up, and companies are doing more and more paperless business as time passes. So does the United States really need three competing big-box office supply retailers? The company that holds the most shares of Office Depot doesn’t think so, and most experts agree. Merging two smaller chains that people mix up anyway and that have one very large competitor should be a no-brainer. [More]
Will The Marriage Of Penguin & Random House Send Book Prices Soaring?
By 10.29.12
They’re going to the chapel and they’re gonna get married: Book publishers Penguin and Random House will become one after their parents company complete an upcoming merger. If the merging of companies in other industries is any indication, this new union could produce higher book prices as the two cease competing, as well as a possible dearth in the selection of titles. [More]
MetroPCS Board Checks “Yes” On Note Asking If It Likes T-Mobile Enough To Merge
By 10.3.12
Kids move so fast these days! Just yesterday we noted how T-Mobile was busy wooing MetroPCS, as its parent company Deutsche Telekom was hoping the company could just move on from that whole “jilted at the altar by AT&T and the DOJ” thing. And now (cue the knowing “ooooohs“) the board of MetroPCS says it’s all in favor of merging with T-Mobile. But how will it find a dress in time?!?!? [More]
Can I Survive The Wells Fargo Takeover Of Wachovia With My Account Terms Intact?
By 7.3.12
Keith has had the same bank account for eight years, but during that time “his” bank has been four different banks thanks to mergers. Ameribank became First Union, which became Wachovia, which in turn was gobbled by Wells Fargo. That’s just how the history of American banking has worked: what’s the big deal? For the first time in all of these mergers, additional fees will be imposed on Keith’s account. He wants to keep things the way they’ve been for the last eight years, and Wells Fargo wants to move on. Well, it wants to move on to taking more money out of Keith’s wallet. [More]
United/Continental Systems Merger Makes Flight Reservations Magically Disappear
By 4.11.12
To be honest, I have to start this post by blaming Ryan and his wife. I don’t know what they were thinking. They assumed that just because they booked their round-trip tickets to and from Cancun two months ahead of their vacation and had an itinerary and confirmation numbers, they had an actual reservation. Maybe they did at one point. But between February and April, Continental and United combined their computer systems as part of their Air Voltron merger. Reservations mysteriously disappeared from the system, including theirs. And that’s how Ryan and the pregnant Mrs. Ryan ended flying coach from Cancun and stuck in Houston instead of flying first-class all the way home to Detroit. [More]
Standard & Poor's Zaps Google With Downgrade Ray
By 8.17.11
The U.S. government isn’t alone in the Standard & Poor’s downgrade doghouse. Google, which is in the process of buying Motorola Mobility for $12.5 billion, took a sharp knock from Standard & Poor’s equity researchers, who moved Google’s stock from a “buy” to a “sell,” lowering its target price to $500 from $700. [More]
Wells Fargo And Wachovia Merger Is Bad News For Divorced Couple
By 8.5.11
When Wells Fargo and Wachovia got married, it was bad news for this divorced couple. Merging the two bank’s databases resulted in the husband getting bills and statements for his ex-wife. After trying to fix it and deal with some Wells Fargo customer service reps who clearly needed counseling, the man is ready to break it off with his bank too. [More]
Analyst Says NBC Universal-Comcast Union Will Make Cable Prices Rise Faster
By 2.1.11
Now that NBC Universal and Comcast have sealed their civil union to become NBCUniversal — isn’t it adorable how she took his name? — it will presumably soon be time for subscribers to give the company its wedding gifts: Higher cable rates. [More]
NBC Employees Get Comcast Shares, Universal Studios Passes After Merger
By 1.28.11
NBC Universal employees lost a space — the company, merged with Comcast, is now known as “NBCUniversal” — but gained a nifty gift basket. Included was a welcome letter, a book on company history, 25 Comcast shares and passes to Universal Studios. [More]
Regulators Won't Finish Review Of Comcast-NBC Deal Until Next Year
By 12.22.10
Jack Donaghy had better cancel his Christmas break. NBC and Kabletown, er, Comcast, have announced that they don’t expect regulators to finish their review of the planned acquisition of the broadcaster by the cable giant until next year. The two companies still expect the deal to go through. [More]
NBC Tells Staff To Submit Paperwork For Comcast Transition, Even Though Merger Isn't Approved
By 12.13.10
A tipster says that NBC is having employees submit new paperwork for a new personnel management software program that will take over after the Comcast merger, even though that merger hasn’t been approved by the FCC yet. Hmm. Here’s the note: [More]
Comcast's Letter To The FCC About Netflix Tollgate
By 12.2.10
Here is the letter Comcast sent the FCC after eyebrows were raised when Level 3 accused the cable company of setting up a effective tollgate to collect fees when L3 tried to deliver Netflix content to Comcast customers. [More]
The 'Cable Constrictor' Hits The Streets To Warn People About Comcast/NBC Deal
By 11.30.10
As we told you earlier today, our brethren at Consumers Union have launched a public awareness campaign to alert consumers about the risks of the proposed sale of NBC Universal to Comcast. And as part of this campaign, CU’s Cable Constrictor moving billboard wended its way around Capitol Hill this morning. [More]
