Word: antitrust
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With solemn assurance from the Justice Department that they would not be violating antitrust laws, the presidents of the three television networks met in secret conclave last week. Topic of discussion: FCC Chairman John Doerfer's "suggestion" that the networks take turns every week presenting a half hour of informational, cultural and educational programs daily, Mondays through Fridays (total: 2½ hours a week...
...daughter of Robert Raymond, one of the three businessmen now serving a three-months prison term in Milan, Mich, for antitrust violations. I am very proud of my father's healthy and unbitter attitude toward this situation, and very ashamed of our judicial system, a weak link in our Government. If my father was serving as a martyr for a cause, I would feel differently; but never before have men been given a prison term for this violation...
...sharp edge to Chairman Ralph J. Cordiner's voice shocked General Electric brass at the annual management conference in Hot Springs, Va. last week. Certain G.E. officers and general managers, said Cordiner, had shown "flagrant disregard" of G.E. policy-and possibly U.S. antitrust laws-by discussing prices with competitors before they bid on big contracts for Government agencies such as the Tennessee Valley Authority. Equally grave, these men "had categorically denied any such acts" to Cordiner until months after a federal grand jury in Philadelphia began investigating; only then did they confess to him. Some of the executives, announced...
...Ever since El Paso Natural Gas Co. decided in 1957 to merge its nearly 8,000-mile transmission pipeline system with the Pacific Northwest Pipeline Corp.'s 1,500-mile system. Washington has been trying to block the deal. The Justice Department quickly slapped an antitrust suit against El Paso. It charged that the merger would reduce competition in supplying gas to the rich West Coast market, even though, at the time, El Paso had simply acquired 99.8% of Pacific's common stock and was operating the companies separately. El Paso's President Paul Kayser countered...
...this is equivalent to a guilty plea, the fact could not be used in civil suits, thus lessening the risk that they would be filed. The defendants were also persuaded by the fact that 1) no one had ever received a prison sentence on a nolo contendere plea in antitrust cases, and 2) the Justice Department agreed to recommend only fines ($5,000 for the companies). But Judge...