While I was out of the country, the Comisión Asesora Presidencial para la Defensa de la Libre Competencia delivered its recommendations for strengthening Chile’s competition laws to President Piñera. The informe can be found here.
una modificación de los capítulos sobre riesgos unilaterales y de coordinación, y la incorporación dentro de los mismos de una nómina de factores informativos sobre los potenciales efectos asociados a una operación horizontal, actualizados según las mejores prácticas internacionales. Dentro del capítulo sobre contrapeso a los riesgos, se incorpora una modificación sobre el análisis de las eficiencias alegadas por las empresas, y un acápite sobre el poder de negociación de los compradores. En lo relativo a mercado relevante, se reconoce que aquel puede tener una importancia menor tratándose de la determinación de riesgos unilaterales en mercados de productos diferenciados, y, finalmente, en lo concerniente a umbrales de concentración, se elevan los mismos, adecuándolos más a las particularidades de la realidad nacional.
Great interview with U.S. Court of Appeals Judge Richard Posner:
Posner expressed admiration for President Ronald Reagan and the economist Milton Friedman, two pillars of conservatism. But over the past 10 years, Posner said, “there’s been a real deterioration in conservative thinking. And that has to lead people to re-examine and modify their thinking.”
“I’ve become less conservative since the Republican Party started becoming goofy,” he said.
Javier Tapia, over at Regulación y Competencia has written another insightful post about the TDLC’s recent ruling in the Tecumseh case. As those of you keeping score at home already know, Tecumseh involved allegations of price-fixing between Whirlpool SA and Tecumseh Do Brasil Ltda, the major suppliers in the Chilean market for low power compressors used in the manufacture of refrigerators. The competition tribunal–known by its Spanish acronym as the TDLC–found that beginning in 2004, both companies began to participate in a global cartel, as well as a regional cartel that directly affected the Chilean market. The case was notable here in that it was the first instance in which a cartel participant (in this instance, Tecumseh) has taken advantage of the FNE’s recently-implemented leniency program and admitted its involvement in an unlawful conspiracy, and provided the competition authorities with information regarding the scheme, in exchange for a fine reduction. (Previously both Whirlpool and Tecumseh had confessed to other competition authorities–in the U.S., Canada, the European Union and New Zealand–to having colluded.) In this case, because Tecumseh was the first in line to approach the FNE and to provide the required assistance, it was eligible to receive a complete exemption from any fines under the leniency program guidelines.
Although I have been neglecting this blog for a while, I did just guest-write a piece (in Spanish more or less) at a far more interesting site, Regulación y Competencia, the blog of the Centro de Regulación y Competencia (Regcom) at the Facultad de Derecho of the Universidad de Chile. You can find the piece here. Be sure to check it out, and bookmark the Regcom blog, where you will find far more interesting commentary on a more consistent basis than you will ever get on this site.
This press release by Chile’s Fiscalía Nacional Económica (national economic prosecutor’s office) caught my attention for some reason:
Con el objeto de seguir fortaleciendo a la FNE, el Fiscal Irarrázabal no ha cesado en la búsqueda de destacados abogados y economistas de la plaza para engrosar las filas del ente fiscalizador…. A la División de Investigaciones, se incorpora el abogado Michael Jacob[s], ex socio de Zelle Hofmann Voelbel & Mason LLP (Minnesota), con estudios en la Universidad de Chicago y Georgetown, y con experiencia laboral en la Oficina del Attorney General del Estado de Minnesota,…
I’m generally not one to forget a major anniversary when it comes to Apple. (Please don’t ask my wife about how I am with other anniversaries, though.) But it appears that during my recent house-hunting excursion to Santiago, I missed the five-year anniversary of Steve Job’s announcement of the iPhone during his January 9, 2007 Macworld keynote.
I remember that “Stevenote” well, though not so much because of the iPhone announcement. Rather, it was the moment that I and the other members of the plaintiffs’ trial team in the Iowa Microsoft litigation (Comes v. Microsoft Corp.) briefly and ever so slightly influenced the famous Reality Distortion Field.