Word: antitrust
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...useful light than a firefly at noon, Yankee Manager Casey Stengel, 68, long used to watching his hirelings clobber the Washington Senators, flummoxed singlehanded a different sort of Senator with his favorite weapon: syntax. As a witness before a subcommittee hearing testimony on a bill to exempt baseball from antitrust action, Stengel was asked by Tennessee Democrat Estes Kefauver why the bill should be passed. "Well," said Casey, clarifying things, "you can retire with an annuity at 50, and I further state that I am not a member of that plan. You'd think, my goodness...
Misrepresentation No. 1: that the U.S. economy is oppressive. Hoover eloquently defended "our system of regulated economic freedom . . . its built-in impulses of initiative, energy, ambition and opportunity," with its 70-year-old antitrust laws that safeguard "the fundamentals of fair and open competition...
...grand jury indicted 29 of the industry's companies-among them: Standard Oil (N.J.), Socony-Mobil, Shell Oil, Gulf, Tidewater, Phillips Petroleum-for allegedly using the Suez crisis 19 months ago to fix prices of crude oil and gasoline, accused them of violating Section 1 of the Sherman Antitrust Act by conspiring to restrain trade. It was the first large-scale criminal price-fixing case against the industry in more than 20 years, and one that oilmen promised to fight to the bitter...
When the merger was announced, the Department of Justice wondered if it did not violate the antitrust laws. But in basic news coverage, the undermanned I.N.S. was never in the running with its rivals. By the merger, the new beefed-up U.P.I, would become a news agency better able to compete in news coverage with the monolithic, nonprofit...
...Washington the Government gave no formal explanation for Internal Revenue's taking such a harsh attitude on the tax ruling. Antitrust lawyers had originally thought that the Government might regard the distribution in the same tax-free manner as it treated dispersal of stock by companies broken up by the Utilities Holding Company Act. The difference apparently is due to the Government's view that the utilities were operating legally prior to the law's passage, whereas Du Pont was found guilty of violating the 44-year-old Clayton Antitrust Act. The man who will decide what...