Word: antitrust
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Dates: during 1970-1979
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...Carter later quipped: "Both sides said he was lousy-and I can't disagree with that.") Two days after the Plains visit, Nader introduced Carter at a Public Citizen forum in Washington, at which the nominee endorsed many of the ideas Nader has pushed for a decade: stronger antitrust enforcement, an end to the "sweetheart" arrangement whereby many federal appointees come to Government agencies from the very industries they are supposed to regulate, tax reform, and the need for a consumer protection agency...
...slowed to a torpid snail's crawl. Reported TIME Correspondent David Beckwith: "It was almost as if the bar was withdrawing from its leadership role in public discussion of today's issues." Delegates sidetracked a resolution opposing restrictions on abortion as not "germane." Despite a pending federal antitrust suit against the A.B.A.'s strict limits on lawyer advertising, conventioneers were in no mood to go beyond the modest liberalizing of ad rules five months ago (TIME, March 1). When Jimmy Carter appeared to talk about the need to reform the appointment of regulatory-agency officials, A.B.A. members...
...able to raise $1 billion, and 2) get approval of the Federal Trade Commission. If qualified, call Kennecott Copper Co. in New York City -and call collect. soon as the U.S.'s biggest copper company acquired Peabody in 1968, the FTC charged it with violation of a dubious antitrust law. That led to a formal FTC ruling in 1971 that Kennecott must get rid of Peabody. The order demanded a divestiture that ranks with the largest in American business history and expanded antitrust law to say, in effect, big mergers and acquisitions are almost by definition...
Given these gloomy alternatives, it is little wonder that Kennecott badly wants to keep Peabody. But that is prevented by a narrow reading by the FTC and the courts of a much debated section of antitrust law; this is the concept that mergers can be stopped not because they reduce competition but because they eliminate "potential" sources of competition. Back in the mid-1960s Kennecott decided that it would make a major attempt to diversify out of copper. Among other things, it bought a small coal field for the purpose, according to Kennecott, of assuring its own fuel supplies...
...Pollack's small New York City law firm consistently wins the biggest money judgments in the nation. Yet Pollack and the four other young lawyers (average age: 31) who work with him do not handle the traditionally lucrative kinds of cases-personal-injury litigation, treble-damage civil antitrust suits, defending giant corporate clients. Ron Pollack is into food for the poor. For the past six years, his Food Research and Action Center has successfully fought Administration efforts to cut back federal spending on food for those who would otherwise have to do without. In the process, Pollack and FRAC...