Assessing harm in local markets and the DOJ's characterization of the relevant market

Lionel Hutz, Editor of the Valorem Research Newsletter on Substack, joins the podcast today to provide his Spirit / JetBlue post-trial breakdown.

For more information about Valorem Research and to subscribe, please visit: https://www.valoremresearch.com/ Chapters:

[0:00] Introduction + Episode sponsor: Alphasense

[1:44] General takeaways from Spirit / JetBlue post-trial and post-trial briefs

[7:56] DOJ's case, what citing of Philadelphia National and Baker Hughes cases as precedents means

[13:17] Harm to local markets - thoughts on this framework as it applies to the bear case

[16:04] JetBlue's "having it both ways" arguments and where Lionel thinks JetBlue scored points with their arguments

[23:21] 51 presumptive markets and how they are relevant to this case + the government's skepticism of divestitures

[33:20] How JetBlue and the government handled the expert witness, what deficiencies that JetBlue finds with the government witnesses

[39:39] Government's points regarding the hot docs

[42:40] How precedent being used to support both sides of the case

[50:03] Evidence supporting JetBlue's position and evidence supporting DOJ's position

[57:26] The fourth bear case on relevant markets

[1:03:35] Timing on ruling

[1:12:33] Legacy of the outcome for this case

Today's episode is sponsored by: Alphasense

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