Is it any wonder that Wisconsin Sen. Herb Kohl and the Senate are looking into the disturbing Google-Yahoo deal that basically puts all online search advertising in the hands of Google?
That level of consolidation should be a concern to every businessperson in Wisconsin. We should all stand as one in opposing this effort designed to wipe out competition.
Google already dominates 70 percent or more of online search advertising and has now swooped in to create a questionable alliance with Yahoo.
This deal takes the No. 1 and No. 2 internet search providers and puts all the control into one company. And apparently, the two have $800 million worth of profitable reasons to want this deal to stick.
Basic economics tell us wiping out competition is not good for consumers. Prices will likely rise for the product. Online advertisers in this case are then forced to pass along increases to consumers.
There are reasons for concern here, especially regarding antitrust issues. Just because a company has a recognizable name, doesn’t mean it should get a free pass on any business dealing – real world or virtual.
Ruben Hopkins is president and chief executive officer of The Wisconsin Black Chamber of Commerce Inc. Additional information is available at www.twbcc.com.
