Consider the FTC, led by the reckless ideologue Lina Khan. Under Khan’s guidance, the FTC has clamped down on corporate merger activity. Most recently, the agency sued to block luxury fashion firm Tapestry’s acquisition of Capri. Tapestry owns Coach, Stuart Weitzman and Kate Spade, while Capri owns the Versace, Jimmy Choo and Michael Kors labels.
Henry Liu, Director of the FTC’s Bureau of Competition claims, "This deal threatens to deprive consumers of the competition for affordable handbags..." Forgive me, but only a man could utter such nonsense. Any woman will tell you that there are a gazillion handbag makers, and that they compete mainly on style and image, not price. And, frankly, that few of them are "affordable."
This is one of many examples of the FTC interfering with the normal pursuit of business. Fashion is fickle; companies continually add names and brands to survive. Liu has no idea what he is talking about.
correct AND funny, we need more of this when the govt says clearly stupid/wrong things
