The CEOs of both Kroger and Albertsons testified in an Oregon federal court at the midpoint of a three-week hearing on the Federal Trade Commission's attempt to block a proposed merger between the grocery store chains.
“Bro I swear, eliminating competition will totally make prices drop, trust me bro.”
This guy couldn’t possibly be more full of shit.
That’s never happened. And it won’t happen this time.
Monopolies have never lowered prices unless it’s when they first move into an area and want to destroy all the local competition. The way Walmart does when they open a new store.
They run the whole place at a loss for the first month or so to draw in customers and kill off the local business. Then raise prices.
Maybe a better way to go would be to some regulation on Walmart?
Either competition is good and the merger should be blocked, or competition is unnecessary and the merged companies should be nationalized.
Sometimes it seems like we are just adopting the worst parts of multiple systems.
Yeah no. He’s full of shit.
“We’re going to use this opportunity of making more money to lower prices and make less money.” Said no CEO ever.
When has a merger ever led to lower prices for consumers… Go on I’ll wait. (hint, if they do it’s only for the minimum amount of time the company can get away with it before they jack the prices up)
