All that's left is a moneylosing firm called Competitive Technologies, which sells for 95 cents a share and is at distinct risk of being delisted from the New York Stock Exchange.

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"We're just fine" with zero debt on the operation, says the firm's president, who requests anonymity for competitive reasons.

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Mr. Rosenberg said KKR has a competitive advantage in real estate because of the firm's large staff and the numerous companies it owns through its buyout portfolio.

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The Commission said some of the firm's "inter-bank fees and related practices may be anti-competitive".

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The company's managers worry that shorn of its network, the firm would lose its competitive edge.

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Shell's chief executive, Jeroen van der Veer, said the firm had delivered "another competitive set of results".

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"We're able to be competitive, with a low effective rate, " says Suzanne Spera, the firm's director of investor relations.

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In hearings before the Federal Trade Commission, Google successfully argued that it should be allowed to acquire DoubleClick, the world's largest display-advertising firm, because search ads and display ads are separate markets with no related competitive forces.

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