Lionel Hutz' breakdown and analysis of the JetBlue $JBLU / Spirit $SAVE merger DOJ case

Lionel Hutz, Editor of the Lionel Hutz Newsletter on Substack, joins the podcast today to discuss the JetBlue (NASDAQ: JBLU) / Spirit (NYSE: SAVE) merger DOJ case. Lionel's JetBlue/Spirit write up: https://lionelhutz.substack.com/p/in-the-spirit-of-competition Chapters: [0:00] Introduction + Episode sponsor: Stream by Alphasense [1:48] What is so interesting about the JetBlue / Spirit DOJ case [4:18] JetBlue / Spirit merger saga - background [11:34] Why is the "Northeast Alliance" relevant [20:26] DOJ case - "Route Pair Analysis" / "Local Market Pairs [27:06] Airline market / thoughts on divestitures [32:44] DOJ argument about relevant markets [44:03] Hurdles for DOJ to show anti-competitive effects [47:15] Notion of "Hot Docs" and their relevance to the trial [54:07] Judge for this case, his background and why this matters [59:08] Consensus around JetBlue's paying a huge premium for Spirit. Why doesn't JetBlue just walk? [1:06:34] Department of Transportation joined the DOJ to block the merger - what this means? [1:14:12] Trial scheduled to start October 16, could there be a settlement between now and then? Today's episode is sponsored by: Alphasense This episode is brought to you by AlphaSense, the AI platform behind the world's biggest investment decisions. The right financial intelligence platform can make or break your quarter. AlphaSense is the #1 rated financial research solution by G2. With AI search technology and a library of premium content, you can stay ahead of key macroeconomic trends and accelerate your investment research efforts. AI capabilities, like Smart Synonyms and Sentiment Analysis, provide even deeper industry and company analysis. AlphaSense gives you the tools you need to provide better analysis for you and your clients. As a Yet Another Value Podcast listener, visit alpha-sense.com/fs today to beat FOMO and move faster than the market.