STATEMENT OF CHAIRMAN OLIVER

It has been just about three years since I became Chairman of the FTC, so I thought I might spend my allotted time this morning reviewing two areas in which the Commission has been particularly active during those past three years. One area probably springs quickly to everyone's mind: mergers. The other area, however, does not seem to be attracting the same sort of attention, although it may have even greater long-term ramifications. I am referring to our development of a new approach to the analysis of horizontal agreements.