Word: antitrust
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Dates: during 1950-1959
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...court was brought by a minor-league owner and two players, who contended that baseball's "reserve clause" (which gives a ball club complete control over its players' careers and prevents them from signing up with other teams) creates an illegal monopoly in violation of U.S. antitrust laws. In its 7-2 ruling (Justices Burton and Reed dissenting), the high court majority reached back to confirm Associate Justice Oliver Wendell Holmes's famous 1922 opinion that baseball is not covered by the federal antitrust laws because it is not in interstate commerce...
...prices substantially. But G.M., with 46% of the entire auto market already, might thus increase its share to 50% or 55% and drive the independents out of business. Under such circumstances, G.M., already under investigation by the trustbusters for its ties to Du Pont, might face an antitrust suit on charges that it sold too cheaply. (The Great Atlantic & Pacific Tea Co. is now on trial on charges, in effect, that it sold too cheaply, thus drove competitors out of business...
...well-chosen words-probably the longest court opinion ever written -Federal Judge Harold R. Medina last week told why he dismissed the antitrust case against 17 leading investment banking firms. The antitrust laws, he said, require proof of an agreement or conspiracy, something the Government attorneys had not shown. Wrote Medina: "The Sherman Act is not an open door through which any court or judge may pass at will in order to shape or mold the affairs of businessmen according to his own individual notions of sound economic policy . . . Unless there is some agreement, combination or conspiracy the Sherman...
...expressions of opinion, in response to an invitation from public officials to state views on an important public question ... If the exercise by American citizens of their constitutional rights in expressing their honest views on public questions . . . can thus be used against them on a conspiracy charge in an antitrust suit, whither are we bound? ... If this procedure is to be consistently followed, many will hesitate to come before such public bodies and express views at variance with . . . the official policy . . . One of the surest ways ... to discourage communication between a citizen and his Government is to encourage such procedure...
General Electric Co. was ordered last week to open to the public all its patents for the manufacture of incandescent lamps. In the history of contested antitrust suits it was the first time a company had been ordered to make an outright gift of its trade secrets...