Explain this to me if you can

Discussion in 'The Watercooler' started by flutterbee, Jun 6, 2008.

  1. flutterbee

    flutterbee Guest

    It took 8 months for the Dept of Justice (why them, anyway?) to approve the deal between Miller Brewing Company and Coors. They needed to make sure it would not reduce competition in the market. Yeah. Cause you gotta watch that beer market. :rolleyes:


    Yet it took less than 5 months for the Federal Reserve to approve Bank of America's purchase of Countrywide.

    Bank of America announced it's deal in January: http://www.msnbc.msn.com/id/22606833/

    And the Federal Reserve approved it (and Bank of America was already the largest depository institution in the country): http://www.msnbc.msn.com/id/24992730/

    Can someone explain to me why it took longer to investigate and approve a deal between beer companies than it did financial institutions responsible for massive amounts of deposits and mortgages, etc.???

    And am I the only one concerned about all of these huge corporations buying out other big corporations? It seems like before long everything is going to be owned by Microsoft, Time Warner and Starbucks. Ok, a little tongue in cheek. But, only a little.

    This is why it's bad when I don't sleep.
  2. nvts

    nvts Active Member

    Actually what bothers me is that it only takes 5-8 mos. to negotiate billion dollar deals, but in NYC it take 6 mos to be denied SS disability and then 14 mos. to go before a judge for your first appeal.

    My sister and sons would be living on the streets if not for my dad and was denied SS for the WRONG AILMENT! She's the one with fibromyalgia, rhuemetoid arthritis and atypical lesions on her brain. She was denied for depression and sore legs.

    Gotta love it!
  3. Star*

    Star* call 911........call 911

    I guess when all the fatcats are sitting on their yachts, checking the stocks from their wireless laptops - the would want a beer in their hand.

    I'm still waiting for the Japanese to throw us out of the US, starting WITH New York.

    It took DF 5 years to get approved for disability - In the mean time we went in the hole, and at one point could have filed bankruptcy, but I worked so hard to get out of the cloud that my x left me with - we're still fighting.
  4. muttmeister

    muttmeister Well-Known Member

    Bank of America obviously has better lobbyists than the beer companies.
  5. Sara PA

    Sara PA New Member

    Countywide holds so many questionable mortgages that it was going to go under if something didn't happen and happen quickly. Bank of America is large enough to absorb the losses Countrywide is going to have. BoA already put in $2 billion trying to prop Countrywide up. It wasn't enough.
  6. Hound dog

    Hound dog Nana's are Beautiful

    Makes you wonder, doesn't it?

    We had ABX/DHL bought out here. Well, in Wilmington. They employ a huge part of the population around here. Nichole's boyfriend included. Guess who bought them? UPS. AFTER promising not to shut it down. First thing they announce after the deal is done........It will be closed completely within a year.

    At least the city of Wilmington is attempting to fight back. They're sueing them. Doubt it will do any good though. But they had a deal with taxes. UPS agreed to that deal when they took over the company. (it was part of the deal) And then decided to close anyway. The city is sueing for the lost taxes.
  7. flutterbee

    flutterbee Guest

    It's so frustrating. It seems like companies will agree to anything to close the deal, but once it's final do a lot of backpeddling.

    As for me...I'm just worried about the beer market. :rolleyes: