Word: antitrust
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...63rd annual congress. In the kind of rousing talk that N.A.M. members like to hear, Summerfield warned that "America today teeters on the precipice of a labor-bossed Congress." was sure that President Eisenhower will propose legislation to protect workers "from exploitation by unscrupulous and corrupt union bosses." Unless antitrust law principles are applied to the "labor-boss monopoly" and businessmen become active in politics, he said, government and, "heaven forbid, eventually perhaps the White House itself" may be dominated "by a militant group of labor union bosses...
...more direct attack on the U.S. Government was made by Ian F. McRae, board chairman of Canadian General Electric Co., Ltd. and president of the Canadian Manufacturers Association. Apparently smarting from a recent Justice Department antitrust suit against General Electric Co. involving the company's Canadian subsidiary, McRae lashed out at the U.S. for continually "interfering in one way or another with the operation of U.S.-owned companies in Canada," criticized U.S. tariff policies. Said he: "Canadian products, with few exceptions, are rigorously excluded from the rich American market by your high tariffs...
...battle in its antimerger campaign. In Manhattan's U.S. district court last week, Judge Edward Weinfeld banned the merger of Bethlehem Steel and Youngstown Sheet and Tube, one of the biggest deals in industrial history. It was the first court test of a Government suit under the Clayton Antitrust Act since it was amended in 1950 to make it tougher...
Justice Department trustbusters and Radio Corporation of America executives heaved a sigh of relief last week. The department won what Attorney General William Rogers said was one of its "most important antitrust cases." Said RCA Legal Vice President Robert L. Werner: "We made a good settlement...
MOVIEMAKER LOEW'S INC. will spin off theater and radio operations in new company. Management was up against antitrust order to separate film and theater business by August 1959, has won fight against minority group of directors who want to spin off troubled M-G-M filmmaker. M-G-M will stay in parent firm...