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Lockheed-Boeing joint venture elicits warning from FTC's Moiseyev on monopoly concerns

( July 6, 2006, 21:30 GMT | Official Statement) -- MLex Summary: The US Federal Trade Commission sent the US Department of Defense a letter saying there were numerous concerns with the joint venture being proposed by Lockheed Martin and Boeing. "In short, the joint venture unambiguously will create a monopoly in the market for medium and heavy launch services for the U.S. government. Monopolies almost always lead to higher prices, lower quality and inferior service," wrote Michael Moiseyev, assistant director for the US Federal Trade Commission. "Here, the competition that would be lost is significant, and the economic benefits that may materialize are unlikely to trump the transaction's harm to competition that the proposed joint venture is likely to have a substantial adverse effect on competition in the market for U.S. government intermediate and heavy launch services."See file attachment. ...

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