A Better Acronym Might Be “EW” or “OO“

..as in “Another EU ‘OOps’! EW, they stink.”

For four years, the European Commission has been busy digging itself out of the hole it stumbled into in 2002, when three of its merger prohibitions were overturned in court.
This humiliating string of defeats dealt a severe blow to the reputation and confidence of the competition regulator, but also sparked sweeping internal reforms. Brussels introduced new checks and balances into its merger review procedures, abandoned some of the more adventurous theories it previously used in merger cases and beefed up its team of economists.
…On Thursday, however, that confidence was shattered by yet another ruling from the European Court of First Instance.
This time, the EU’s second-highest court took aim not at a Commission merger prohibition but at the decision to clear the merger of Sony and BMG in July 2004. It was the first time a Commission merger clearance was annulled.
To make matters worse, the Sony/BMG deal had been the first big test case for the Commission’s new enlightened approach.

Get it together, kids.

One Response to “A Better Acronym Might Be “EW” or “OO“”

1. Mike Rentner says:

   July 13, 2006 at 2:51 pm

   Can someone put all the business lingo in terms an engineer would understand?