EU disses GE-Honeywell merger, again

When this $46 billion mega-deal initially got the thumbs-down in 2001, it prompted U.S. Congressional outrage, and eventually led to T.R. Reid's book "The United States of Europe." The deal was approved by U.S. trade regulators, but the EU said it would hurt competition.

"How can the EU regulate American companies?" demanded U.S. leaders. Well, regulate it did - if those companies want any sales in Europe. And the EU's second highest court on Wednesday upheld the European Commission's 2001 decision.

By the way, Reid's book is fascinating, if you want a non-academic look at European integration. You have to take it with a grain of salt, as I believe it over-touts the integration EU, but it's still a great read. The author is a Washington Post reporter and former London bureau chief.