Latest news with #JohnSherman
The Hindu
2 days ago
- Business
- The Hindu
Why antitrust regulations are pertinent
While arguing for the Sherman Act, Senator John Sherman said in 1890, 'If we will not endure a king as a political power, we should not endure a king over the production, transportation, and sale of any of the necessaries of life.' The law would eventually mark the beginning of antitrust regulation in the United States, while also laying the groundwork for similar statutes preserving market competition worldwide, including in India. Sherman's idea of what constitutes a 'necessity of life' has evolved since then. Technology is reshaping societies and markets — it now shapes the production, transportation, and sale of most goods and services, leading to the rise of what we now term the global 'digital economy'. India is a significant player, with its domestic digital economy contributing 11.74% to its GDP (2022-23). This success has partially been driven by technology start-ups, which rose from just 2,000 in 2014 to over 31,000 in 2023. The government recognises their potential and leans on them to build a $35 trillion 'Viksit Bharat' by 2047. Yet Sherman's concern about a few players dominating economies still applies. In Digital India, the kings are located in foreign waters, dictating selective terms to home-grown start-ups building the country's digital future. As a result, the ability of Indian start-ups to scale is often stunted. While these global firms connect societies, they also wield immense monopolistic power. A recent case by a leading Indian online gaming company against Google, filed with the Competition Commission of India (CCI), highlights the risks posed by such dominance. On start-ups and monopolies Discriminatory practices by gatekeepers in the digital economy harm India's economy, business environment, and consumers. Google, for example, dominates distribution and discovery of digital services. With Android holding about 95% of the of the mobile operating system market share in India, it is nearly impossible for consumers to discover new online businesses without the latter hawking their services on Google's superior search engine, app store, or online advertising ecosystem. This dominance has led to discriminatory outcomes for Indian start-ups. For example, high commissions levied by Google on transactions taking place within its payments ecosystem have dampened the revenues of start-ups using these services. These issues have led domestic antitrust regulators to crack down on the tech giant, preventing Google from restricting app developers from using third-party payment systems or from communicating with their users to promote their apps. The gaming start-up's CCI filing is an addition to this long list of concerns with Google's anticompetitive behaviour in India. In its complaint, the gaming industry leader alleged that Google abused its dominant position via a discriminatory Real Money Gaming (RMG) Pilot Program operated through the Play Store, and restrictive advertising policies. Google's Pilot Program, launched in September 2022, selectively permitted two specific formats of RMG on the Play Store — Daily Fantasy Sports (DFS) and rummy — limiting market access for other formats of RMG, such as the casual games offered by the gaming company. While Google discontinued similar pilots in Mexico and Brazil in June 2024, its Indian iteration continues to date, offering DFS and rummy operators relatively unfettered access. For example, the complaint notes that a DFS operator with 90% of the market share acquired 150 million users over 16 years, but upon joining the Pilot, it added another 55 million users in just one year. Google similarly amended its advertising policies following the launch of the Pilot, limiting gaming advertisements to DFS and rummy operators, which earlier allowed advertisements by all games of skill. Before these amendments, the online gaming leader claimed that 68.21% of its app downloads were derived from Google's ad program. Now, they have stopped — a deep cut for an Indian start-up with proven global credibility and scale. CCI, the forward-looking and progressive digital regulator, has began an investigation into these concerns. Costs to India Such market distortions carry serious economic consequences, compromising India's ability to reach its digital economy ambitions. Most importantly, lack of competition leads to 'reductions in quality and consumer choice[s]', and excessive reliance on few powerful players. Net-net, everyone loses, except the gatekeepers. India cannot afford such a loss in innovation — and nor can its people, who will ultimately benefit from competitive growth, driven by ambitious start-ups. Sherman's homeland offers some insight into what the future holds for markets where the antitrust issue is not addressed head-on. Antitrust scholars suggest that rising monopolisation across American industries has increased the cost of doing business for growing businesses, leading to a dramatic decrease in Initial Public Offerings. The economic consequences of such lopsided markets are too severe for India to bear. Ultimately, global tech giants play a critical role in powering these new-age businesses. What the future requires is recognition from Indian adjudicators that avenues for distribution and monetisation must be democratised, without gatekeeping, for domestic start-ups to thrive. The gaming industry leader's case carries on Sherman's legacy — it is one step towards a fairer field for everyone. Alwyn Didar Singh, Former Secretary to the Government of India and former Secretary General, FICCI
Yahoo
15-07-2025
- Politics
- Yahoo
KCMO councilmember ‘neutral' on 2 Missouri Royals sites
KANSAS CITY, Mo. – Monday, a councilman in the city made it clear he wants the Royals to stay in Missouri. FOX4 talked to Councilman Nathan Willett and Wes Rogers that afternoon. In late March, Royals CEO John Sherman told reporters he wanted to talk more about the stadium in June or July. In a nearly 15-minute interview with FOX4 Monday, Willett said he was 'Team Missouri' a number of times. He added that he wants whatever works for the Royals. Kansas City man arrested, charged after high-speed boat chase at Lake of the Ozarks Willett said he believes Washington Square Park, just east of Union Station, is an option for the team. FOX4 asked him if he wanted the ballpark in Washington Square Park over a once proposed ballpark for the Royals in North Kansas City at 18th and Fayette. North Kansas City is a separate city from Kansas City, Mo. 'I think it's fair to say I want it in Missouri,' Willett said in response. 'I am neutral between the two sites. I think it's whatever works for the Royals and works for the taxpayers who are going to be asked to help out.' Willett is running for Republican State Senator Tony Luetkemeyer's seat in the Missouri state legislature, so right now, he's not running for re-election on KCMO's city council. FOX4 asked Willett if he's concerned that being 'neutral' to two Missouri stadium locations would make Kansas City Mayor Quinton Lucas or other Kansas City council members upset with him. 'I think it's Team Missouri,' he responded. 'You don't know what's a legit option or not a legit option. Right now, you have two Missouri options, and I think you have one or two Kansas options. 'At the end of the day, the deal has to make sense for both the taxpayers. You have to have that benefit to it, but we cannot let Kansas continue to grow and Missouri just to sit back. You're seeing a lot of growth happening, more and more south on the other side of state line. I think if a stadium went down there versus whether it be downtown or north of the river, you're going to see the continued concentration of economic development around there.' Late in June, fellow KCMO Councilman Kevin O'Neill told FOX4 that Kansas City's parks department board needed to quickly approve moving rights over to Port KC or the Economic Development Corporation of Kansas City (EDCKC). Three weeks later, that special meeting hasn't happened yet. New Port KC Board of Commissioner and fellow KCMO Councilman Wes Rogers was with Willett Monday at Northland Neighborhoods Inc. 'This is a years long project,' Rogers said when asked if he was concerned that that the parks department special meeting hasn't happened yet. 'There's no doubt in my mind that the city will figure out how to do this.' Willett added that if the Royals chose to play in KCMO's city limits, the taxpayers should be able to weigh in on it. Jackson County Executive Frank White pitches Gov. Kehoe adjusted approach to sales tax extension Mayor Quinton Lucas has said the opposite though, that if the Royals built at Washington Square Park, the city's taxpayers may not have to weigh in on it. If the Royals chose Clay County and North Kansas City, that would require a vote of the people of that county to tax themselves via a sales tax. A Kansas ballpark for the Royals would take advantage of Sales Tax and Revenue (STAR) Bonds. That would not require a vote of taxpayers. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
30-05-2025
- Business
- Yahoo
End of an era in Duval County as five historic elementary schools close
Friday marked the last day of classes for Duval County students and the permanent closure of five neighborhood elementary schools under a district consolidation plan. The following consolidations will occur in the 2025-26 school year: 1. Annie R. Morgan Elementary into Biltmore Elementary 2. Kings Trail Elementary into Beauclerc Elementary 3. Susie E. Tolbert Elementary into S. P. Livingston Elementary In addition to these consolidations, the School Board previously approved the consolidation of R.V. Daniels Elementary School into R.L. Brown Elementary School and Windy Hill Elementary School into a new Southside Estates Elementary School. >>> STREAM ACTION NEWS JAX LIVE <<< [DOWNLOAD: Free Action News Jax app for alerts as news breaks] The closures stem from an updated Master Facilities Plan approved last year to address a $1.4 billion budget shortfall. 'For nearly 30 years, this school has been part of our daily routine,' said parent John Sherman, who was able to walk his daughter Hanna just one minute from home to Kings Trail. 'An extra ten minutes isn't a big deal, but I'll miss that community feel.' Nine-year-old Hanna Sherman admitted she'll miss her friends. 'Some of my classmates are going to different schools,' she said. District leaders say consolidations will concentrate resources and expand educational opportunities, but many families worry the loss of their local campuses will affect current ease of commutes and disrupt longstanding traditions. More elementary school consolidations are planned for the 2026-27 school year. [SIGN UP: Action News Jax Daily Headlines Newsletter]
Yahoo
27-05-2025
- Business
- Yahoo
Missouri to hold special session on aid for tornado victims plus Chiefs and Royals stadiums
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers are to kick off a special session Monday to consider aid for tornado victims and a package of financial incentives aimed at keeping the Kansas City Chiefs and Royals from leaving the state for new or improved facilities in neighboring Kansas. Gov. Mike Kehoe announced the special session Tuesday, less than two weeks after a deadly tornado hit St. Louis and the Legislature wrapped up its work without giving final approval to a late-developing plan that would authorize state bonds for the Chiefs and Royals valued at up to half the cost of the stadium projects. Missouri officials are scrambling to come up with an offer because Kansas lawmakers last year authorized bonds for up to 70% of the cost of new stadiums, paying them off over 30 years with revenues from sports betting, Kansas Lottery ticket sales, and new sales and alcohol taxes. The Chiefs and Royals have played professional football and baseball for five decades in side-by-side stadiums in eastern Kansas City in Jackson County, Missouri, drawing fans from both sides of the split metropolitan area. Their stadium leases run until 2031, and Royals owner John Sherman has said the team won't play at Kauffman Stadium beyond the 2030 season. Jackson County voters turned down a sales tax extension last year that would have helped finance a $2 billion ballpark district for the Royals in downtown Kansas City and an $800 million renovation of the Chiefs' Arrowhead Stadium. That prompted Kansas officials to put together an offer and forced Missouri officials to recalculate their plans. The Chiefs and Royals are part of a new round of stadium construction that is underway for professional sports teams across the U.S., with taxpayers often helping to pay the multibillion-dollar tabs. Many economists contend public funding for stadiums isn't worth it, because sports tend to divert discretionary spending away from other forms of entertainment rather than generate new income. But Kehoe said the teams provide a major economic benefit. Supporters of the projects also point to the sense of community and national attention that sports teams can bring, noting the three recent Super Bowls won by the Chiefs and the Royals' World Series title a decade ago.
Fox Sports
27-05-2025
- Business
- Fox Sports
Missouri to hold special session on aid for tornado victims plus Chiefs and Royals stadiums
Associated Press JEFFERSON CITY, Mo. (AP) — Missouri lawmakers are to kick off a special session Monday to consider aid for tornado victims and a package of financial incentives aimed at keeping the Kansas City Chiefs and Royals from leaving the state for new or improved facilities in neighboring Kansas. Gov. Mike Kehoe announced the special session Tuesday, less than two weeks after a deadly tornado hit St. Louis and the Legislature wrapped up its work without giving final approval to a late-developing plan that would authorize state bonds for the Chiefs and Royals valued at up to half the cost of the stadium projects. Missouri officials are scrambling to come up with an offer because Kansas lawmakers last year authorized bonds for up to 70% of the cost of new stadiums, paying them off over 30 years with revenues from sports betting, Kansas Lottery ticket sales, and new sales and alcohol taxes. The Chiefs and Royals have played professional football and baseball for five decades in side-by-side stadiums in eastern Kansas City in Jackson County, Missouri, drawing fans from both sides of the split metropolitan area. Their stadium leases run until 2031, and Royals owner John Sherman has said the team won't play at Kauffman Stadium beyond the 2030 season. Jackson County voters turned down a sales tax extension last year that would have helped finance a $2 billion ballpark district for the Royals in downtown Kansas City and an $800 million renovation of the Chiefs' Arrowhead Stadium. That prompted Kansas officials to put together an offer and forced Missouri officials to recalculate their plans. The Chiefs and Royals are part of a new round of stadium construction that is underway for professional sports teams across the U.S., with taxpayers often helping to pay the multibillion-dollar tabs. Many economists contend public funding for stadiums isn't worth it, because sports tend to divert discretionary spending away from other forms of entertainment rather than generate new income. But Kehoe said the teams provide a major economic benefit. Supporters of the projects also point to the sense of community and national attention that sports teams can bring, noting the three recent Super Bowls won by the Chiefs and the Royals' World Series title a decade ago. recommended in this topic
