Saturday, November 21, 2015
On the Government's Despicable Antitrust Case Against Alcoa Aluminum
Yet another low point for sure. a) Alcoa was company that achieved market dominance through efficiency and technological innovation and not through funny business, cronyism, etc.. b) Even Judge Hand of the U.S. Court of Appeals had conceded that Alcoa was an honest company and had essentially invented the aluminum business, greatly expanded production, and significantly cut prices - its only sin being that it was successful (Hand practically chided them for expanding and introducing new technologies). And c) Judge Hand, in an effort to overstate Alcoa's market share, counted only primary ingot aluminum sales and disregarded the growing market for scrap aluminum. And all the while the customer got reamed AGAIN.............Sources - "Antitrust and Monopoly" by Dominick Armentano and "Bully Boy" by Jim Powell.