Word: antitrust
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...common stock, the largest single block. He was all set to elect at least part of an "independent board" of his own choice, which was likely to be more amenable to his taking over. But the court found that Evans' attempt to take over Briggs may violate antitrust laws, blocked him from voting his stock at the annual meeting June 17 unless an appellate court, now pondering the case, reverses the decision...
...Charges. Evans' rapid acquisitions of plumbing-fixture manufacturers also brought an antitrust complaint from the Federal Trade Commission. Evans had his own explanation for the complaint. To the New York Society of Security Analysts he said darkly: "Somebody came to me several months ago and said, 'If you don't get out of Briggs, one of the family is married to a Senator from Michigan, and we're going to stir up things in Washington.' " Michigan's Democratic Senator Philip A. Hart, married to a daughter of the firm's founder, heatedly denounced...
Last week, as the full story of Henry Welch's career unfolded before Senator Estes Kefauver's antitrust subcommittee, it became clear that the guardian of public interest in antibiotics also had a personal stake in the matter. Over the years Welch had pocketed $260,766, derived, in one way or another, from the interests he was sworn to regulate...
Under a bold-faced ad heading, ANTITRUST, Manhattan's Barclay hotel last February genially invited the nation's corporations to take advantage of its executive suites ($7,500 a year and up). Said the Barclay in its ad in the New York Times: "Corporation secrets are best discussed in the privacy of an Executive Suite at the Barclay." Last week the statement was open to doubt. In Philadelphia a Federal Grand Jury returned a second set of indictments against eight electrical-equipment makers, charging antitrust violations involving criminal conspiracy to fix prices, divide markets and rig bids (TIME...
Bicks hopes to change the antitrust laws as well as enforce them. He would like to provide tax relief for stockholders who, in such antitrust cases as the G.M.-Du Pont divorce, are forced by the courts to sell their shares. He also wants legislation to force corporations to hand over their records in civil as well as criminal cases. At present, antitrust lawyers must grope half-blind before trial, guessing what documents contain, or else stretch the law to make criminal charges. Such legislation, he argues, would enable the trustbusters to make a more rational decision on whether...