The dross always floats to the top in IT companies - A tall Scandinavian
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Intel settles an antitrust case
CHIPMAKER Intel has settled a three year antitrust case in the US, walking away with a slap on the wrist of $6.5m.
It has been a while coming and the penalty seems rather small. Intel announced that it and the New York Attorney General (NYAG) have agreed to end the antitrust lawsuit and go their separate ways after a gilded handshake that covers costs.
"Following recent court rulings in Intel's favor that significantly and appropriately narrowed the scope of this case, we were able to reach an agreement with New York to bring to an end what remained of the case," said Doug Melamed, Intel SVP and general counsel.
"We have always said that Intel's business practices are lawful, pro-competitive and beneficial to consumers, and we are pleased this matter has been resolved."
The settlement follows an earlier court ruling that limited the scale of the lawsuit. Intel said today that the settlement does not reflect an admission of guilt and does not require it to make any changes to its business.
The case began in November 2009 when the NYAG's office filed a complaint against Intel in Delaware, accusing it of violating antitrust law. The NYAG said that Intel had "obtained exclusive or near-exclusive agreements from large computer makers... in exchange for payments totaling billions of dollars, and threatening retaliation against any company that did not heed its wishes."
In November of last year Intel asked for the case to be dismissed based on some legal technicalities about where it was filed and what sort of penalties the law allows. US District Judge Leonard Stark agreed with much of this line of argument in December and most of the wind went out of the case. µ
Tags: Intel
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Intel has learned that it is highly profitable to violate anti-trust laws for profit and to eliminate competition. Untl Intel is fined three times their total annual revenues for violation of anti-trust laws, they are financially way, way ahead of any fines imposed for their criminal acts that have existed for decades.
"We have always said that Intel's business practices are lawful, pro-competitive and beneficial to consumers, and we are pleased this matter has been resolved."
The $1.6 billion US fine the got from the feds is in direct contradiction with that statement.
Japan, South Korea and many other countries have also issued fines in direct contradiction with that statement.
Intel uses similar or more extreme business tactics than Standard Oil did, which were very anti-competitive. These practices eventually caused their own downfall. The US supreme court broke the company up in 1911, thus making it somewhat obvious the public and the government didn't agree that Standard Oil business practices were fair. This happened despite Standard Oil fiercely defending their business practices as fair and competitive.
http://en.wikipedia.org/wiki/Standard_oil
If the issues were technical related to standing to bring suit, it would seem that the DOJ would not have that problem.
Where is the DOJ on this, or is Intel yet another major corporate contributor to his majesty's election war chest, and hence above the law?
...that in the U.S. corporate criminals can buy all the justice they desire.
AGAIN.....
THe EU will NOT be so PLACATING..... The WINTEL HEGEMONY UP TO TRICKS, WINS AGAIN. OPEC HAS NOTHING ON THESE COMPANIES. NADA!!!!
'NUFF SAID
buy amd instead