Word: antitrust
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Dates: during 1950-1959
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...public, the U.S. drug industry would like to appear as a dedicated, white-coated scientist skillfully brewing one wonder drug after another. But Tennessee's Estes Kefauver, chairman of the Senate Antitrust Subcommittee, long has had ambitions to paint a different picture -of an industry that fixes prices too high. Last week, opening an investigation of drugmakers, the Keef got in his broad strokes as soon as nervous industry witnesses settled uncomfortably in their hot seats...
...packaging was undergoing a major shift from cans to other materials, acquired more than a dozen firms in glass, plastic and paper products to protect Continental's flank. He spent heavily on research to develop new products, e.g., plastic bottles. The Government has not always approved, filed an antitrust suit to force him to get rid of a glass-jar company...
...years since Congress passed the Sherman Act. no reputable businessmen have served a jail term for antitrust violations and none after pleading nolo contendere (no contest)-until last month. Then Federal Judge Mell G. Underwood, 67, of Columbus, Ohio set a precedent. He ordered four officials of hand implement manufacturing companies to serve 90 days in the federal penitentiary at Milan, Mich. On the way to surrender, Defendant John T. Mains, 56, former mayor of Greenfield, Ohio, put a bullet through his head. Last week Judge Underwood rejected a plea to commute the remainder of the terms of the other...
...this is equivalent to a guilty plea, the fact could not be used in civil suits, thus lessening the risk that they would be filed. The defendants were also persuaded by the fact that 1) no one had ever received a prison sentence on a nolo contendere plea in antitrust cases, and 2) the Justice Department agreed to recommend only fines ($5,000 for the companies). But Judge...
Freeze Out? Until lately the company has hidden its U.S. light by operating in the U.S. through several affiliates. Recently, it merged three into one company, Consolidated Electronics, which starts out with $90 million in sales. In 1958 the Antitrust Division cited Philips among a dozen companies accused of freezing smaller U.S. TV manufacturers out of the Canadian market. Philips also has a suit against the U.S. charging that the AEC infringed Philips' Enrico Fermi patents taken out in long-ago 1934-39 and covering aspects of radioisotope production. Both suits are still pending...