Former Microsoft CEO Steve Ballmer told CNBC on Wednesday he’s all but certain Congress won’t break up Big Tech companies despite a House subcommittee report that found Amazon, Apple, Facebook and Google hold monopoly power.

Ballmer, who led Microsoft through an antitrust lawsuit in the early 2000s, also made some recommendations to those companies.

“If I’m in these guys’ shoes, I say, come on, let’s get down there and let’s regulate me and let’s get it over with so I know what I can do,” Ballmer said in a “Squawk Box” interview.

On Tuesday, the Democratic majority on the House Judiciary subcommittee on antitrust said the four tech titans need to be reined in by Congress and enforcers.

“I’ll bet money that they will not be broken up,” Ballmer told CNBC. 

“I also don’t think the case of Apple is the same as Google is the same as Amazon,” Ballmer

Read More

Sen. Elizabeth Warren (D-MA) speaks during a news conference concerning the extension of eviction protections in the next coronavirus bill, at the U.S. Capitol on July 22, 2020.

Photo by Drew Angerer/Getty Images

The real takeaway from President Donald Trump’s reported $750 federal income tax payments, according to Sen. Elizabeth Warren, D-Mass., is that the U.S. tax system is not working.

“The problem here is that the system itself is broken, and you’ve got to ask why,” Warren said in an interview with CNBC’s Jim Cramer during the virtual Delivering Alpha conference Wednesday. “And you want to know why? The reason is because of the Donald Trumps of the world, the people who have used their money and used their influence to get Congress to keep rewriting those laws.”

Warren referenced the blockbuster New York Times report published Sunday that claimed Trump had paid $750 in federal income tax in

Read More

  • During Tuesday’s debate, President Donald Trump kept interrupting former Vice President Joe Biden, something remarked upon by moderator Chris Wallace.
  • ‘Well, frankly you’ve been doing more interrupting,’ Wallace said to Trump at one point.
  • The rule-breaking is nothing new for Trump, but it was apparently unprecedented in a debate, as widely commented on by cable news throughout the post-mortem. (Aside from, of course, the 2016 debates.)
  • White-collar rule-breaking going unpunished has become a persistent feature of American capitalism in the 2000s, as famously captured by the aftermath of the 2008 financial crisis, when no CEOs faced prosecution.
  • Visit Business Insider’s homepage for more stories.

Tuesday night’s presidential debate is already historic for the immediate and widespread criticism it inspired. CNN’s Dana Bash instantly called it a “s—show” while Jake Tapper called it a “hot mess inside a dumpster fire inside a train wreck.”

But even those strongly worded criticisms don’t

Read More

Gun maker Remington Outdoor will be broken up and sold after a multiday bankruptcy auction, in which seven different buyers won the bidding for parcels of the company’s weapons and ammunition holdings.

Sales of Remington’s ammunition and weapons manufacturing business, the Remington brand and others will bring in at least $155 million to be applied against the company’s debts.

Ticker Security Last Change Change %
VSTO VISTA OUTDOOR 19.20 +0.27 +1.43%
RGR STURM RUGER 62.08 +0.59 +0.96%

Lawyers for Remington haven’t responded to requests to comment on the auction results, which were partially revealed Sunday in court filings.

Judge Clifton R. Jessup Jr. has scheduled a Tuesday hearing in U.S. Bankruptcy Court in Decatur, Ala., to consider approval of the auction results.

The auction is the culmination of Remington’s second bankruptcy of recent years. The Huntsville, Ala.,

Read More

Nikola founder and executive chairman Trevor Milton.

  • Nikola’s stock price has been in freefall since a short-seller report accused the company of misleading investors. 
  • Steve Kalayjian of Ticker Tocker thinks there could be further pain for the “broken stock” and it could crash to $5, from around $19.50, where it currently trades. 
  • The stock received its first sell-rating from Wedbush this week after Nikola CEO Trevor Milton has stepped down. 
  • Visit Business Insider’s homepage for more stories.

Shares in electric truck maker Nikola have been on a roller-coaster journey this month, ever since a scathing short-seller report complained the company had misled investors and one strategist is predicting the stock could lose another 75% in value.

Steve Kalayjian, chief strategist and co-founder of trading platform Ticker Tocker told Business Insider: “Looking at Nikola’s stock chart. It’s a broken stock. I would avoid it. It could possibly go

Read More

We first warned investors about Uber’s unrealistic valuation before its IPO in April 2019: “Uber’s IPO Valuation Makes No Sense.” After an underwhelming IPO and its firsts earnings report as a public company, we warned again in “Uber Gives Investors the Worst of Both Worlds.” Now, with the stock trading well below its IPO price, and the firm feeling the brunt of the COVID-19 shutdowns across the world, some investors may think there is value in Uber. Think again. Uber (UBER) is this week’s Danger Zone pick.

We think those with fiduciary responsibilities need to consider just how much risk they take by owning UBER at current levels. This report shows investors of all types just how extreme the risk in UBER is based on:

  • Recent legislation could break an already weak business model
  • Delivery market share is stagnant (excluding acquisitions) and rideshare is falling
  • The path to profitability remains
Read More

Right now, the Federal Reserve System and the European Central Bank have a dilemma.

Last week the value of the Euro reached $1.2000 for a short time, although the price dropped off to $1.1842 at the close of the week.

The general market feeling is that, if anything, the price of the Euro should rise further.

But, this thought is bringing pressure on Christine Lagarde, the ECB president, to “talk down” the Euro so that the currency does not become too strong and hurt the economy of the European Union and possibly hold down inflation.

Yet, to some, to do this also carries risks.

Stephen Gallo, European head of FX strategy at BMO, has argued,

But at the same time she has to be careful. If they fire that bullet and it only has limited impact, that could be even worse.”

The value of the Euro could grow even stronger.

Read More

When the customer experience (CX) at your business goes south, it’s often because one or more of your systems are broken or haven’t been set up in the first place. A rule of thumb is that when something goes wrong once, it might be a particular employee’s fault, or it could be just a fluke. If it happens twice, though, you should begin to suspect that it’s the fault of a broken or missing system. When you encounter repeated, similar or identical mistakes, the smart move is to look at the system involved: to review its design and how it is, or isn’t, being implemented.

I’ve used this scenario before in print and with my CX/customer experience consulting and training clients but it’s stood the test of time: Let’s say you own a body shop.  If customers are complaining about their early morning experiences with one of

Read More