Around the Web 6.6.08: Highflying billionaire and e-mail timeouts

-- Reversing course under a new commissioner, the Federal Trade Commission is launching a formal antitrust investigation into chip giant Intel, the NYT is reporting.

-- After his arrest on federal drug and stock-option fraud charges, Broadcom founder Henry Nicholas was ordered by a judge to enter a Malibu drug treatment center. The judge also grounded the billionaire's two private planes. The government says Nicholas has a history of, er, highflying drug use. More details in the full story. LAT

-- Consumer groups aren't thrilled about the Verizon Wireless deal to acquire Alltel, saying there already are too few choices in cell service. LAT

-- Carl Icahn continues the war of words with Yahoo. But this time Icahn sets a price, $34.37 a share, and offers a few alternatives. Yahoo's response: Icahn has "no credible plan." PaidContent.org

-- Google launched Gmail Labs, which includes, among other features, the equivalent of a timeout button for e-mail. We need that. VentureBeat

-- Walt Mossberg is a big fan of Firefox 3.0. WSJ

-- The Spanish trade group representing major record labels goes after the maker of the Blubster file-sharing service. Bit Player

-- Chris Gaither

Photo: Paul Sakuma / Associated Press