The Federal Trade Commission anti-trust team suffered a deathblow for their undo interference of the Whole Foods – Wild Oats Merger. The courts have now ruled in favor of Whole Foods slamming the Federal Trade Commission (FTC) into oblivion. Whole Foods has secured the 700 Million Dollar financing to do the deal and now this will give them the economies of scale needed to compete with the other Grocery Chain Stores.
The FTC unconvincingly tried to reason that this would hurt competition in the market place, which was understandably simply not so. Indeed, judges were amazed the FTC had the audacity to attempt to argue against the merger when in reality such a deal will be beneficial to consumers of organic type foods.
The Online Think Tank looked at this FTC block attempt and could not figure out what on Earth the commission was talking about, but has seen enough abuses of power and underperformance from the FTC in the past to believe these bureaucrats and government lawyers might try to pull something like this.
In an on-going stream of defeats the FTC has mud on their face along with the challenges of answering to Congress during the next budget hearings for their poor performance on the war on SPAM and their inability to stop identity theft. How can the Federal Trade Commission save face, when everything they do turns to failure asked one member of the Online Think Tank?
Is the Federal Trade Commission due for a complete overhaul or should we simply do the prudent thing and close that agency as an example of bad government run amuck? Time will tell, but the Online Think Tank thinks that it is time to face reality and close the commission for the betterment of the American People. Think on this, it’s time. Sincerely, Lance.