Word: antitrust
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Dates: during 1950-1959
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...advocates free competition, Lord McGowan, who headed I.C.I, for years, made no bones about his liking for cartels. "Unrestricted competition," he once said, brings "eventual chaos." But in 1944, the Justice Department decided that Lord McGowan and Du Pont had gone too far in restricting competition. It filed an antitrust action against the two (plus Du Pont's subsidiary, Remington Arms), charging that they had conspired to restrain trade by splitting up markets for a list of goods ranging from Cellophane and rayon to insecticides and synthetic rubber...
...started its expropriation spree were nowhere in sight. The Dutch, appealed to for assistance, told Iran to go fly a kite. Some Italian technicians tried to make a deal, but it came to nothing. Instead of helping Teheran, U.S. oil companies, assisted by Washington's suspension of antitrust laws, began pooling their resources, prepared to make oil deliveries to Iranian's old customers...
...heyday of New Deal trustbusting, eleven years ago, the Government slapped its biggest antitrust suit on the American Petroleum Institute. It charged the A.P.I, with acting as a nerve center in a "conspiracy" by oil companies to control U.S. oil production and sales, named 22 companies and 344 subsidiaries as defendants. The tentlike charge covered so many companies that it was promptly dubbed the "Mother Hubbard" case...
...from $6 to $2.25 a crate last month, the growers of California's Salinas Valley, the "Salad Bowl of America," started plowing under half their big crop. For a few days, the plan worked fine. As lettuce became scarcer, prices stabilized. But then the Justice Department started an antitrust suit against the growers. Last week the trustbusters got a court injunction stopping the growers from destroying lettuce...
...Trade Council argued that the decision applied only to items in interstate commerce. Then it pointed out that Congress could bind non-signers by an amendment to the 1937 Miller-Tydings Act, which made state fair-trade laws possible by exempting fair traders from prosecution for price-fixing under antitrust laws. But chances for such an amendment are slim; fair-trade now has a lot of enemies it did not have...