Word: antitrust
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Dates: during 1960-1969
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...days to disengage. They obviously would prefer not to do so, and will appeal the decision to the Supreme Court. Failing there, an avenue remains to the nation's many consolidation-minded publishers. The failing-newspaper bill, now languishing in a Senate subcommittee pigeonhole, would exempt from antitrust laws those papers combined along the Albuquerque Plan, provided that one of the pair was in serious financial trouble. The management of Tucson's dailies believe that their papers would qualify. So do scores of other publishers who are wondering this week what to do about the Walsh decision...
Problems have proliferated so rapidly that soon only the Government may be able to handle the financial hazards of auto insurance. But how? In 1869, the Supreme Court ruled that "insurance is not commerce," thus exempting it from federal antitrust laws and congressional regulation of interstate commerce. In 1945, after the court had reversed itself, the McCarran-Ferguson Act put all insurance under state supervision. But many Congressmen now believe that the states are flunking the auto-insurance part of their job. A Senate subcommittee has called for a "root and branch" investigation of the entire industry. President Johnson echoed...
...Chairman-President Harold Geneen, who had hoped to fashion the two firms into a $2.5 billion telecommunications colossus, the decision was largely a matter of money. Announced in December 1965, the merger has been held up by Justice Department antitrust litigation after being twice approved by the Federal Communications Commission. During the delay, a sharp increase in ITT's stock sent its purchase price for ABC soaring...
...reforms: 1) a multinational investment guarantee system within the World Bank to ensure against what he called "nonbusiness" (political) risks, 2) an international legal code to protect private property from expropriation, 3) development of the European capital market, 4) more closely meshed national patent systems, 5) broader approaches to antitrust problems and 6) a freer flow of technology. "We have created the illusion of multinationalism without the reality, the shadow without the substance," he argued. "To borrow from Cassius, the fault is not with the concept but with ourselves...
...leasing companies as welcome intruders, partly because their purchases help meet the manufacturers' need for vast amounts of cash to pay for research and development. IBM, with 70% of the U.S. computer market, dares not use its size to crush the dis count lessors, because of a 1956 antitrust consent decree...