Word: antitrust
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Dates: during 1950-1959
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...markets, flying Christmas mistletoe from Dallas to Manhattan, Texas okra to Detroit's big colony of Southern workers. Last year, after complaining to CAB that airmail-subsidized American and the big boys were still harassing his unsubsidized line, Slick slapped a $30 million suit on them, charging antitrust violations. After that, he says, they let him alone...
Last week, in its most important antitrust decision since the basing-point case (TIME, May 10, 1948 et seq.), the U.S. Supreme Court disagreed with Judge Minton, who took no part in their deliberations in the case. In a 5-3 decision, the Supreme Court ruled that if the lower price was offered in "good faith" (i.e., to meet competition), then it was legal under the Robinson-Patman Act. "The heart of our national economic policy long has been faith in the value of competition," wrote Justice Harold Burton for the majority. "Congress did not seek by the Robinson-Patman...
Vice into Virtue. Then, overnight, as in World War II, the "vice" of bigness became a sudden virtue. To build the hydrogen bomb plant, the Government called in Du Pont, one of antitrust's prime targets. After that, the Administration eased up on trustbusting all around...
Judge Medina, who had found out at the trial of the eleven Reds how the Communist Party works, this time faced a problem just as complex. He was sitting in judgment (without a jury) on the Government's long-awaited antitrust suit against 17 of the nation's top investment banking houses* and the Investment Bankers Association. It was the biggest trial in Wall Street's history. For three years the Government had rummaged through more than 10,000 documents, now planned to use 4,000 of them to support its chief charge that the defendants...
...Unemployed. The President had also failed to hook a full-time civilian defense director, or someone to be Assistant Attorney General in charge of antitrust prosecutions. At the end of the lame-duck session of the 81st Congress he would have eleven Democratic ex-Senators and 47 ex-Congressmen to pick from. But what he really needed were some able men from industry, and they wouldn't come...