Valorem Research's Lionel Hutz provides his Spirit / JetBlue post-trial breakdown

Lionel Hutz, Editor of the Valorem Research Newsletter on Substack, joins the podcast today to provide his Spirit / JetBlue post-trial breakdown. For more information about Valorem Research and to subscribe, please visit: https://www.valoremresearch.com/ Chapters: [0:00] Introduction + Episode sponsor: Alphasense [1:44] General takeaways from Spirit / JetBlue post-trial and post-trial briefs [7:56] DOJ's case, what citing of Philadelphia National and Baker Hughes cases as precedents means [13:17] Harm to local markets - thoughts on this framework as it applies to the bear case [16:04] JetBlue's "having it both ways" arguments and where Lionel thinks JetBlue scored points with their arguments [23:21] 51 presumptive markets and how they are relevant to this case + the government's skepticism of divestitures [33:20] How JetBlue and the government handled the expert witness, what deficiencies that JetBlue finds with the government witnesses [39:39] Government's points regarding the hot docs [42:40] How precedent being used to support both sides of the case [50:03] Evidence supporting JetBlue's position and evidence supporting DOJ's position [57:26] The fourth bear case on relevant markets [1:03:35] Timing on ruling [1:12:33] Legacy of the outcome for this case 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.