Word: antitrust
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Dates: during 1940-1949
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...Antitrust. Monopolists were having a rough time. In a Cleveland federal court, Timken Roller Bearing Co. was convicted of conspiring with its British and French affiliates to fix world prices of roller bearings and restrict competition. In Manhattan, E.I. du Pont de Nemours & Co., National Lead Co. and three individuals were fined a total of $43,000 (the maximum) for operating a worldwide cartel in titanium pigments. The companies were already under court order to license titanium production at a reasonable royalty...
After ten years of agile legal footwork, Paramount Pictures, Inc. last week tossed in the sponge in its antitrust fight with the Justice Department. It approved a consent decree agreeing to split itself into two separate companies, one to make and distribute movies, the other to operate theaters...
...pocket" expenses while away. He wrote Standard: "I was really doing more work ... for the Standard Oil Co. than if I had remained in the office at 30 Rockefeller Plaza." In another letter, he took credit for the quashing of antitrust indictments in 1934 against Standard of California. Excerpt: "The Attorney General . . . took me into an outer room and said: 'Jimmy, I have dismissed the indictments against your boy friends on the Pacific Coast...
...Supreme Court had ruled that baseball was not engaged in interstate commerce, and therefore was out of the reach of antitrust laws. But now baseball was raking in big money from radio and television. Did that make the game interstate commerce? The appeals court wanted the lower court to settle that...
Last week, in FRB's Washington hearing room, Giannini and Eccles met face to face. In the first use of its antitrust powers in 34 years, FRB was out to prove Transamerica a monopoly. To the witness stand went Eccles. He had disqualified himself as a judge in the case, only to find that as far as Giannini was concerned, it was Eccles who was on trial...