We had a server outage, and we're rebuilding the site. Most of the site features won't work. Thank you for your patience.
imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

US mergers set new record in October

by mil Sunday, Oct. 30, 2016 at 7:17 AM

With Qualcomm’s announcement Thursday of a $39 billion deal to acquire NXP Semiconductors NV, October has set a new monthly record for US mergers and acquisitions.

Coming the same week as AT&T’s $85 billion merger agreement with Time Warner and the $47 billion deal for British American Tobacco to take full control of Reynolds American, the total volume of mergers and acquisitions (M&As) for the month has reached $248.9 billion, topping the previous record of $240 billion set in July of 2015.

The past week has also set a new weekly high of more than $177 billion.

While M&A activity this year still trails last year’s record pace by 20 percent, recent weeks have seen a sharp acceleration of deal making. Such a flurry of M&A announcements in the run-up to a presidential election is rare. It indicates that the US corporate-financial elite does not anticipate a major change in the business-friendly policies of the government, whichever party captures the White House.

The character and scale of the latest merger announcements underscore the relentless process of monopolization that is increasingly placing economic activity in the US and around the world in the hands of a relative handful of corporate behemoths, whose economic dominance only enhances their control of bourgeois parties, politicians and governments, whether nominally of the “left” or “right.”

The announced merger between Qualcomm and NXP, for example, “counts as the second largest pure technology deal of all time after Dell Inc.’s recent acquisition of EMC Corp. for about $60 billion,” according to the Wall Street Journal. The San Diego-based semiconductor giant Qualcomm is a leader in the field of mobile devices. In acquiring the Netherlands-based NXP, the world’s biggest developer of chips for automobiles, Qualcomm is seeking to expand its revenue base under conditions of a stagnating market for mobile phones.

A takeover of Reynolds American by British American Tobacco would create the world’s largest listed tobacco company by revenues and market value.

The AT&T-Time Warner merger, if approved by the next US administration, will represent what the Washington Post called a “seismic shift” in the “media and technology world,” one that “could turn [AT&T] into a media titan the likes of which the United States has never seen.”

In addition to controlling much of the traditional telephone market, AT&T is already the biggest pay-TV provider in the US and the second largest wireless provider, behind Verizon. The acquisition of Time Warner would give this tech colossus control over a large swath of news and entertainment in the US, including such Time Warner properties as CNN, HBO, Cinemax, other Turner System cable channels and the Warner Brothers film studio.

There is every indication that the wave of mergers will continue. On Thursday, the Wall Street Journal reported that business telecommunications firms CenturyLink and Level 3 Communications are in advanced talks to merge in a deal likely to be valued at more than $20 billion.

The extraordinary level of mergers and acquisitions and the scale of the combinations are expressions of stagnation and crisis in the basic economy and the growth of financial parasitism. Mergers as a rule add nothing to the productive forces. On the contrary, they divert capital from productive investment and are generally used to slash costs and eliminate jobs. Stock prices are generally bid up, producing windfalls for big investors, and countless millions are pocketed by Wall Street investment bankers and lawyers.

Since the financial crash of 2008, M&A activity has soared while the real economy has settled into a malaise of slow growth, reduced productive investment, declining productivity and a fall in the growth rate of world trade. Along with the wave of mergers, banks and corporations have funneled billions of dollars into stock buybacks and dividend increases, entirely parasitic measures that enhance the wealth only of the rich and the super-rich.
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments

Local News

Woolsey Fire: Worst News of 2018? J01 12:18AM

Oppose Environmentally-Harmful Development D10 4:03AM

Oppose Environmentally-Harmful Development D10 3:58AM

OUR HOUSE Grief Support Center Presents Night for Hope O30 5:38PM

Marshall Tuck’s racist dog whistle O27 5:01AM

Marshall Tuck’s ethnocentrism contradicts Californian values O27 4:32AM

Contra Costa-Hawkins O25 3:48AM

Debunking Some Anti-Prop 10 Propaganda O12 6:56AM

Why Should California Choose De Leon Over Feinstein? O10 9:55PM

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

More Local News...

Other/Breaking News



Chemtrails and Prince J20 2:43PM

Wages For Housework J20 2:41PM

Tutelle comportementaliste J20 9:18AM

A Mistake: Jesse Jackson-Toyota deal-in Lexington -Ky is .8 billion over 10 years 2018 J20 1:17AM

If Trump Declares a AantionalEmergency, He'll Be Breaking the Law J20 12:47AM

Jesse Jackson's Sneak Attck on Toyota Lexington Ky and it's workers 2018 J19 9:12PM

Video: Chris Herdges in Eugene, 1 hr 24 min J19 5:37PM



Judge Delays Ruling on Puerto Rico Debt Deal White House Opposes Island's Food Assistance J18 6:04PM



Paraphysique de proxémie guerrière J18 7:59AM


FARCELONA 8.17.2017 J17 3:23PM



PR Debt Cancel, Judge Reviews Cofina Debt J16 9:04PM

Réseautage, fragmentation du capital J16 4:20PM

Paraphysique de manipulation mentale et sociale J15 9:51AM

The Global Justice Project and Human Survival: We're Badly Off Track J15 5:08AM

The Global Justice Project and Human Survival: We're Badly Off Track J15 5:08AM

The Global Justice Project and Human Survival: We're Badly Off Track J15 5:08AM

Markets as a Fetish, Globalization, and Dissent Management J14 1:03PM

State Debts - The Primal German Fear J13 5:09PM

Sans liberté, sans égalité, sans fraternité J13 8:09AM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy