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The Rockefeller example, though frequently cited, is a red herring. Those companies were thereafter known as the "Seven Sisters" and not exactly known for trul
by daniel-cussen 8y ago
The Rockefeller example, though frequently cited, is a red herring. Those companies were thereafter known as the "Seven Sisters" and not exactly known for truly competing with each other.
There was also a comment here I read recently about Rockefeller being a pretty activist shareholder, in the sense that he arranged meetings--using his considerable clout--among heads of the resulting companies, many of which were his most loyal former employees.
- jjoonathan 8y agoRight, ditto with AT&T. That's the point. Monopolies haven't always been able to resist being broken up -- but they have always been able to arrange the breakup so that the pieces don't compete and don't shift bargaining power to the consumer.
- ghaff 8y agoMinor nit. The Seven Sisters weren't all descended from Standard Oil of New Jersey although a number of them were.