Word: alcoa
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Dates: during 1950-1959
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...ALCOA, which sponsors Edward R. Murrow's See It Now (CBS-TV), is happy over the benefits of Murrow's battle with Senator Joe McCarthy. The show's audience has jumped from 9,000,000 to 30 million, and Alcoa and CBS have received 47,000 letters. Box score: more than four to one in favor of Murrow...
...economy was still far from free of danger signals. The Federal Reserve Bank of Chicago predicted that farmers' net cash income would drop 10% this year to the lowest point since 1943. Scattered layoffs were announced-by Chrysler, Baltimore & Ohio Railroad, General Electric, Westinghouse, Alcoa. And Studebaker Corp., beset with troubles all last year (TIME, Sept. 21), cut its quarterly dividend from 75? to 40?. But Economist Woytinsky, whose record on predictions has been excellent, said that the present slip would be over by midyear and business would be about 7% above 1952 levels before...
...Barnes, his Antitrust Division will start new suits. He has already started some. In July he began a new prosecution against Aluminum Co. of America, whose onetime monopoly had been declared ended after one of the most protracted suits on record (TIME, June 12, 1950). The complaint charged that Alcoa's contract to import 600,000 tons of Canadian aluminum from its divorced ex-subsidiary, Aluminium Ltd. of Canada, was an attempt to bring the two together in a new monopoly. When gasoline and fuel oil prices rose two months ago, Barnes sent FBI agents around to check into...
Attorney General Herbert Brownell last week reopened the Government's old monopoly case against Aluminum Company of America. He asked New York's federal southern district court to cancel a contract Alcoa made last May with Aluminium Ltd. of Canada, under which Alcoa would buy 600,000 tons of aluminum over the next six years. The contract, argued Brownell, not only violated a 1950 court decision which severed all connection between Alcoa and Alcan, but it would keep new companies from going into the aluminum business because they could not hope to meet Alcan's low price...
Brownell's argument was none too solid. Further expansion of U.S. aluminum production had bogged down long before the Alcoa-Alcan deal. It raised a basic question: Must the U.S. have more competition in the aluminum industry even if it means more expensive aluminum...