Regulators are looking hard at all of the major tech companies with an eye toward anti-trust violations. At Bloomberg, Spencer Soper reports that one particular Amazon practice may fall into that category. He writes: Amazon.com Inc.’s determination to offer shoppers the best deals is prompting merchants selling products on its marketplace to raise their prices on competing websites, a testament to the company’s growing influence over the e-commerce market. Amazon constantly scans rivals’ prices to see if they’re lower. When it discovers a product is cheaper on, say, Walmart.com, Amazon … [Read more...]
Is the Trump Administration Coming for Amazon?
Treasury Secretary Steven Mnuchin told interviewers at CNBC yesterday that "“If you look at Amazon, although there are certain benefits to it, it destroyed the retail industry across the United States, so there’s no question they’ve limited competition." The Secretary's words, coupled with recent Justice Department disclosures that there are "plans to scrutinize tech platforms following mounting criticism across Washington that the companies have become too big and too powerful," there is understandable worry at Amazon and other tech firms. Bloomberg's Ryan Beene reports on Amazon's … [Read more...]
Is the FCC About to Shut Down Those Annoying Robo-Calls?
Americans who are constantly being harassed and annoyed by fraudulent texts and calls to their cell phones may soon get some relief. FCC Chairman Ajit Pai is working on a plan to go after the culprits of such schemes. Rob Marvin explains in PC Mag: The FCC is taking another step in the battle against robocalls: stopping spammers from spoofing IDs in text messages and international calls. A new proposal from FCC Chairman Ajit Pai would, in short, implement and enforce 2018's RAY BAUM's Act. According to the agency, the 2009 Truth in Caller ID Act prohibits misleading or inaccurate caller ID … [Read more...]
E-Cigarettes Face First Ban in San Fran
On Tuesday, San Francisco's Board of Supervisors voted to ban sales of e-cigarettes. That may be hard to imagine in a city with its own "Cannabis Tourism City Guide," but welcome to 2019. The city supervisors were ostensibly worried about the explosion of teen use of e-cigarettes. San Francisco based Juul, a leader in the e-cigarettes industry, will be hit by the ban. CNBC's Angelica LaVito reports: San Francisco on Tuesday became the first city in the country to ban e-cigarettes after city officials approved an ordinance that prohibits selling nicotine pods or devices that haven’t been … [Read more...]
States Join in the Attack on Big Tech
With the Department of Justice signalling its intent to scrutinize the big tech companies, a number of state attorneys general are piling on. John D. McKinnon reports at The Wall Street Journal: In recent interviews, several state attorneys general and aides said a core group of AGs has been discussing how to address antitrust-related concerns around big tech companies for some months. One official estimated the number of attorneys general who are involved at between 12 and 20. While the federal government still carries the most clout, “meaningful litigation to check companies over the … [Read more...]
Right to Work States Preserving the American Dream
For many Americans, a major part of achieving the "American Dream" is owning a home. That has become more difficult in many areas of the country as ever higher property taxes are necessary to pay the public sector unions who have a stranglehold on state politics. There is, however, an antidote. In states with right to work laws, which prevent compulsory union membership and dues paying, homes are more affordable. The National Right to Work Committee explains: Last year, Apartment List, a private service company that connects renters with apartment listings, surveyed 6,400 millennials on their … [Read more...]
Here’s How States Can Double Their Manufacturing Job Growth
In an analysis of new data published by the U.S. Labor Department, the National Right to Work Committee found that states with Right to Work laws had a manufacturing job growth advantage of 2:1 compared to forced unionism states. NRTWC writes: Last week, the U.S. Labor Department issued updated and revised annual data for payroll manufacturing employment in each of the 50 states. The newly-published figures for 2018 show that 6.76 million manufacturing jobs — or 53% of all factory jobs across the U.S. — are located in the 27 states that have passed and implemented Right to Work laws … [Read more...]
Another Win for the Right to Work
Toyota has announced it will build a new plant in Alabama. Right to Work states like Alabama are popular destinations for automakers who want to build cars in the United States without the negative influences of the UAW. the Wall Street Journal's Adrienne Roberts reports: Toyota Motor Corp. TM +0.13% on Thursday raised its planned investment in its U.S. operations through 2021 by about a third to nearly $13 billion to build more models and parts in the country, a move that comes as the Trump administration considers imposing tariffs of up to 25% on auto imports. The Japanese auto maker … [Read more...]
Government’s Fidelity Probe Looks to be a Non-Starter
There is an article in today’s Wall Street Journal about a government probe into Fidelity regarding a fee charged to some mutual funds. It’s called an “infrastructure fee,” and is charged by Fidelity Investments to certain mutual fund companies (not Vanguard) to list their funds on Fidelity’s FundsNetwork. Most funds on Fidelity’s FundsNetwork are accessed through retirement accounts such as 401(k)s and/or 403(b)s. As such, they are governed by ERISA laws which are overseen by the Department of Labor. The article references a fee of 0.15%, which is misleading because not all companies … [Read more...]
National Right to Work Could Help States That Can’t Help Themselves
Many states are hostage to the powerful public sector unions they employ. These unions are the largest, most organized group of voters in many forced-union states. They wield their massive power to lobby for higher wages. Paying those wages demands higher taxation, which can cripple private industry in the states. State governments that have been captured by union interests are powerless to fight back. Some states have seen the damage unionized public sector employees can cause, and have set into place Right to Work laws, protecting employees from forced unionism. The laws don't end unions, … [Read more...]