KOHL, LEE OUTLINE ANALYSIS OF UNIVERSAL-EMI MERGER IN LETTER TO FTC

Aug 3, 2012

WASHINGTON – U.S. Senators Herb Kohl (D-WI) and Mike Lee (R-UT), chairman and ranking member of the Senate Antitrust, Competition Policy and Consumer Rights Subcommittee, today outlined their analysis of the pending acquisition of EMI Group by Universal Music Group in a letter to the chairman of the Federal Trade Commission (FTC), which is currently reviewing the merger.  The subcommittee convened a hearing on June 21, 2012 to consider the sale of EMI’s recorded music business to Universal, and its impact on competition, artists, and consumers.
 
“This letter summarizes the findings of our investigation into this transaction. In brief, without reaching any final judgment as to the legality of the deal under the antitrust laws, we believe this proposed acquisition presents significant competition issues that merit careful FTC review to ensure that the transaction is not likely to cause substantial harm to competition in the affected markets.  In the course of this review, we also urge the Commission to be mindful of the changes in the music industry in the last decade, particularly the shift to online distribution as the preferred way consumers purchase music,” the Senators wrote.

Senators Introduce Bipartisan Pay for Printing Act

Aug 3, 2012

This bipartisan legislation simply requires senators to take responsibility for paying for the cost of printing these symbolic resolutions out of their own office budgets.

Perverse Incentives of Obamacare -- Day Lee Briefing 8/02/2012

Aug 2, 2012

These are the effects of just one of Obamacare’s more than trillion-dollars in new taxes. With job creators openly admitting that the law’s perverse incentives are discouraging them from hiring, it’s obvious that the economy will not fully recover from its current downturn unless and until Obamacare is fully repealed.

Lee Introduces Cut, Cap, Balance Act

Aug 1, 2012

It’s not right to ask the American people to pay for the debt Congress created, especially if it has not taken significant steps to reverse overspending. We have to identify our priorities, set responsible spending levels to meet them, and eliminate the trillion dollar deficits that are sapping the economy of precious resources. Cut, Cap, Balance moves us in the right direction so we can restore confidence in our economy, create jobs, and get the country moving again.

It Worked? -- Day Lee Briefing 8/01/2012

Aug 1, 2012

Today’s Agenda

Today, Senator Lee will meet with representatives of the Western Energy Alliance. He will also host a Jell-O bar for office visitors at 3:30 PM EDT (1:30 MDT).

 

From the Senator’s Desk

On Twitter

Around the Water Cooler

The new minority: Millions of long-term unemployed looking for hope

Joe Carbone can't sleep — and the odd thing is, he deals in hope. Carbone is the President and CEO of The WorkPlace, Inc., a non-profit workforce and economic development organization in Bridgeport, Conn. He developed an experimental program to help the long-term unemployed that was recently featured on "60 Minutes."

 

Eurozone unemployment hits record high, while Mario Monti sees ‘light at end of tunnel’

EU data agency Eurostat said the seasonally-adjusted rate was the same as an upwardly-revised May toll but noted another 123,000 people lost their jobs going into the European summer, bringing the total to nearly 18m, more than 2m up on a year earlier.

 

Looking Ahead

Tomorrow, Senator Lee will meet with Lt. Gen. Bruce Litchfield of the Air Force.

Time for the Leahy-Thurmond Rule -- Day Lee Briefing 7/31/2012

Jul 31, 2012

Today’s Agenda

Today, Senator Lee will meet with representatives of the Salt Lake City Police Department. He will also attend a Steering Executive Committee meeting at 4:15 PM EDT (2:15 MDT).

 

From the Senator’s Desk

On Twitter

Around the Water Cooler

 

The new minority: Millions of long-term unemployed looking for hope

 

Joe Carbone can't sleep — and the odd thing is, he deals in hope. Carbone is the President and CEO of The WorkPlace, Inc., a non-profit workforce and economic development organization in Bridgeport, Conn. He developed an experimental program to help the long-term unemployed that was recently featured on "60 Minutes."

 

Eurozone unemployment hits record high, while Mario Monti sees ‘light at end of tunnel’

 

EU data agency Eurostat said the seasonally-adjusted rate was the same as an upwardly-revised May toll but noted another 123,000 people lost their jobs going into the European summer, bringing the total to nearly 18m, more than 2m up on a year earlier.

 

Looking Ahead

 

Tomorrow, Senator Lee will meet with representatives of the Western Energy Alliance. He will also host a Jell-O bar for office visitors at 3:30 PM EDT (1:30 MDT).

More Deficits -- Day Lee Briefing 7/30/2012

Jul 30, 2012

Today’s Agenda

Today, Senator Lee flies back to Washington.

 

From the Senator’s Desk

 

On Twitter

Around the Water Cooler

Administration projects budget deficit to be $1.2 trillion

The White House predicts this year's federal budget deficit will end up at $1.2 trillion, marking the fourth consecutive year of trillion dollar-plus deficits during President Barack Obama's administration.

 

Businesses blame government for the mess in Texas

Another of the regional Fed business surveys shows what everybody already knows: the economy’s luffing, slowing down as the tailwinds die. The Dallas Fed’s manufacturing index fell to -13.2 from 5.8 a month ago. But that doesn’t tell the whole story.

 

Looking Ahead

Tomorrow, Senator Lee will meet with representatives of the Salt Lake City Police Department. He will also attend a Steering Executive Committee meeting at 4:15 PM EDT (2:15 MDT).

Lee: Senate Must Protect Its Institutional Rights and Impose the Leahy-Thurmond Rule

Jul 30, 2012

The Constitution assigns to the Senate the right and duty to advise and consent to the President’s judicial nominees. During President Obama’s term in office, the Senate has acted responsibly in carrying out this role. Indeed, numerous measures demonstrate that the Senate has treated President Obama’s judicial nominees fairly, confirming them at a greater rate and more quickly than the Democratic Senate confirmed President Bush’s nominees.

Weekly Wrap-up: Senate Dems Pass Higher Taxes -- Day Lee Briefing 07/27/12

Jul 27, 2012

This week, the Senate Democrats voted to raise taxes even as a steady stream of worsening economic data kept pouring in. The Richmond Fed survey plummeted, signaling major weakness in the region. The second quarter’s annualized GDP growth came in at a “stall speed” level of 1.5%. A significant number of economists are warning that we are on the verge of, or even already in, another recession. Americans are more than halfway through our third straight “Recovery Summer”, and we’re still waiting for a real recovery.

It’s clear that President Obama’s policies aren’t working. Yet it is in this stagnant economic environment that his party wants to take even more from the private sector. The plan passed by Senate Democrats even included a new death tax that would have disproportionately damaged the family farms and ranches that are currently in the middle of fighting the worst nationwide drought since the Dust Bowl.

Unemployment remains above 8%, a record number of Americans are on food stamps, and a “recovery” has never been this anemic. Is now the time for the government to deal yet another blow to the economy?

Below are some of the week’s articles on this subject:

Sickly second-quarter GDP report puts U.S. economic recovery — and Obama’s reelection — in jeopardy

The U.S. economy is not doing fine.

Morning Bell: Senate Votes to Raise Taxes on Small Businesses

Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the tax hike.

 

And here are some of the week’s best tweets:

Middle Class Targeted with Premium Increase by Obamacare -- Day Lee Briefing 7/26/2012

Jul 26, 2012

Candidate Obama repeatedly promised premiums would be impacted by about $2,500 per family in his proposal – a development CBO has now confirmed. The only problem is that candidate Obama promised premiums would go DOWN $2,500 – but under the law President Obama signed, premiums will go UP by nearly the same amount.