Word: antitrust
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...eventual FTC ruling on drug-price ads may presage a probe into the agreements by medical and bar associations that set fees charged by doctors and lawyers. Engman, who has vigorously pushed antitrust actions in his two years at the FTC, has talked before about "conspiracies of silence" concerning prices in other professions. Last week he said that the fact that druggists' antiadvertising agreements resemble understandings among other groups does not excuse the pharmacists but "may be a reason to take a hard look at doctors and lawyers...
Former Attorney General Richard Kleindienst, 51, is feisty, charming and -as Watergate defendants go-lucky. Although he apparently committed perjury before a Senate committee when he denied that presidential pressure was brought to bear on him in his handling of the ITT antitrust case (the White House tapes later revealed that Richard Nixon had told him to "stay the hell out of it ... leave the goddamned thing alone"), Special Prosecutor Leon Jaworski permitted him to plead guilty to the lesser charge of refusing to testify. Then Federal Judge George L. Hart Jr. gave him a one-month suspended sentence because...
What has digested 50 million pieces of paper, chewed on 500 witnesses and has 38 legs? Answer: the rival teams of lawyers appearing in court to argue the Government's mammoth IBM antitrust suit. The largest such case ever to go to trial in the U.S. finally got under way in a New York federal district court last week, even bringing the usually officebound IBM chairman Frank T. Gary in to watch the opening session. Already, critics contend that the main thing the trial will prove is that the antitrust laws have become so complex to enforce...
...issues, to be sure, are important enough. One is a constantly vexing problem of antitrust law: how to define what "market" is involved. Raymond Carlson, 52, the Justice Department's chief lawyer for the case, contends that IBM controls a dominant 70% of the market for general-purpose computers and related equipment. IBM lawyers, led by Manhattan Attorney Thomas Barr, 44, and former Attorney General Nicholas deB. Katzenbach, reply that the true market in which the company competes is the much broader one for all kinds of electronic data-processing equipment, and that in any case a 70% share...
...Idaho, monopoly laws "are only an empty gesture now." Yet few alternatives are in sight. Two reforms suggested by some lawyers and politicians are 1) cutting down on legal battling by giving a tax break to company shareholders if they agree to a Government-sought divestiture; and 2) eliminating antitrust trials entirely by having Congress legislate divestiture for specific industries. Whatever the merits, neither course seems likely of adoption, at least not without a battle as long as a major antitrust trial...