The Competitive Enterprise Institute Daily Update
Issues in the News
1. LEGAL
Lorillard Tobacco Co. signs an agreement with over 30 states to curtail Internet and mail order cigarette sales.
CEI Expert Available to Comment: Journalism Fellow Timothy P. Carney tells the story of how more regulation benefits big tobacco in his new book, The Big Ripoff : How Big Business and Big Government Steal Your Money:
“Lorillard Tobacco Co. has joined Philip Morris and other leading tobacco companies in supporting multi-state bans on selling cigarettes mail. While politicians say this measure will reduce underage cigarette purchases, it also has the side effect of devastating the startup cigarette companies that threaten the dominant market share of the major tobacco companies. It’s a classic ploy: the politicians get to sound like public crusaders while pocketing cash the big businesses who profit from the regulation.”
2. FINANCE
Former Goldman Sachs chairman Henry Paulson sworn in as Treasury Secretary.
CEI Expert Available to Comment: Director of Energy Policy Myron Ebell on why Paulson is not the right man for the job:
“No conservative administration should consider appointing anyone who works for the Nature Conservancy to any position and certainly not to one carrying the high responsibilities of Treasury Secretary. The financial scandals at the Nature Conservancy uncovered by the Washington Post are only the tip of the iceberg. The Nature Conservancy has served as the agent for turning millions of acres of productive private land into federally-owned land and has made huge profits doing so. The question that needs to be asked is, what will Mr. Paulson be able to do as Treasury Secretary to benefit the Nature Conservancy and its big corporate partners?”
3. TECHNOLOGY
Apple and Microsoft race to launch a wireless digital music player in time for Christmas.
CEI Expert Available to Comment: Technology Analyst Peter Suderman on legal challenges Apple has faced abroad over its iTunes music service:
“…the French, never content without dirigiste government intervention, have decided that even their digital music needs to be saddled with the burden of regulation. Now Apple’s iTunes music store is under fire from a law that would strip Apple of the right to protect its property without providing consumers any serious benefits.”
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