Word: antitrust
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...Justice Department announced that it would start a grand jury investigation to see whether the steel industry had violated antitrust laws through collusive pricing. Bobby Kennedy declared that the Department of Justice was going to consider whether U.S. Steel ought to be "broken up" on the legalistic grounds that it had monopoly power to set industrywide prices...
Congressional Democrats joined in the hue and cry. Brooklyn's Representative "Manny" Celler said that his Antitrust subcommittee would hold hearings on steel pricing beginning in early May. Tennessee's Senator Estes Kefauver, that intrepid investigator, said that his Antitrust and Monopoly subcommittee also would probe the steel industry...
MERGERS. Implicit in Kennedy's message was a more relaxed Washington attitude toward railroad and airline mergers that would help to eliminate duplicate facilities. Where the Government has previously tended to focus chiefly on the antitrust aspects of mergers, greater weight now seems likely to be given to purely economic considerations. The President pointedly ignored requests by the rail unions that he restrain mergers which might endanger jobs...
...Customers have been warning that a stoppage would only accelerate their drift to competitive materials such as plastics, aluminum, concrete, glass and wood. These were important pressures for settlement on both sides, but even heavier pressure came from the Kennedy Administration, whose powers over tax, labor and antitrust laws make quite a nutcracker. Sighed one union official: "Let's face it-we're going to be living with the Kennedys for a helluva long time." This, according to one insider, is what the Administration did: One day last December, Labor Secretary Arthur Goldberg had as his private lunch...
...mechanization of U.S. coal mines, opposed featherbedding, and kept the coal industry free of major strikes since 1952. He has also put the squeeze on small, uneconomic mines to such an extent that a year ago the U.M.W. was found guilty of violating -of all things - the Sherman Antitrust...