Reynolds Holding is a Breakingviews editor who also writes from New York about the law. Before joining Breakingviews, he was a national editorial producer for the Law & Justice Unit at ABC News, a senior writer for Time magazine and the executive editor of Legal Affairs, the first general interest magazine about the law. He spent more than a decade as an investigative reporter and columnist for The San Francisco Chronicle, where he was named a Pulitzer Prize finalist for explanatory writing. Before becoming a journalist, he practiced corporate law at the New York firm of Debevoise & Plimpton. He graduated from Harvard College and Duke University School of Law.
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Delta, United and American want trade deals changed, arguing Gulf rivals are unfairly subsidized. That’s rich, given the bailouts, antitrust exemptions and other goodies these three enjoy. Blowback from domestic peers may persuade them that whining to Uncle Sam won’t fly.
The FTC need only raise “serious” questions to thwart Sysco’s $3.5 bln US Foods purchase. It’s an unusually low hurdle that has helped stall mergers like Whole Foods and Wild Oats. A bill that would change the rule may not pass in time to keep Sysco’s from going up in smoke.
The credit card firm may lose luster with all-important high earners after a ruling allowing stores to tout the virtues of cheaper rivals. Amex may be able to stave off some of the impact. But a big cut in swipe fees would hurt its rewards programs – a draw for the wealthy.
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