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Texas Attorney General Greg Abbott will announce "important development" this afternoon related to AA/ US Air merger. Update at 2pm.
— FOX 4 NEWS (@FOX4) October 1, 2013
Rumor has it that Greg Abbott will announce that he is pulling Texas out of the lawsuit to stop the AA/US Airways merger. Although I thought it was weird he joined in with the federal government in the first place, I heard him on the Mark Davis Show say that there was evidence that the president of U.S. Airways was caught with a "smoking gun" in their efforts to "jack up fares and reduce competition". "They were very overt in their actions to try an eliminate competition . . . . We are a nation of laws. What we have here is a violation of antitrust laws . . . , " he said. And the only reason he joined the lawsuit was because he had "cold, hard evidence". (He later wrote an op ed piece saying essentially the same thing.)
But he's been taking a beating from The Right for not letting the "free market" decide whether the merger will ultimately be in the public's best interest. If he backs out now, it is 100% a political decision in his quest to become governor. And he continues to be revealed as a fraud.
If the press conference is not about withdrawing from the lawsuit, uh, never mind.
Edit: Abbott and the airlines announced a "settlement" but make no mistake about it: That's a dismissal without any legitimate concessions. He had to find a way to safe face.
