Word: antitrust
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Already Bill Knowland has plenty of company on Capitol Hill. Maryland's Republican Senator John M. Butler announced that he wants to make organized labor subject to existing antitrust laws. Massachusetts' Democratic Senator John Kennedy, chairman of a labor subcommittee on remedial legislation, is at work directing a crew of experts who are examining a bookful of possibilities, such as tighter pension and welfare fund rules, strong laws defining conflict-of-interest deals, a federal commission similar to the Securities and Exchange Commission, that would protect the public interest against corrupt union activities just as SEC clamps down...
...Clary Jr. ruled that the railroads violated the Sherman Antitrust Act by engaging in "one large, ever-growing conspiracy" to destroy the competition of long-haul trucks. He awarded only nominal damages of 18? each to 37 trucking companies, but said he would award additional damages plus attorneys' fees and court costs to the Pennsylvania Motor Truck Association. He invited the truckers to draw up an injunction for the court to issue to curb the rails' anti-truck campaign. Wrote Judge Clary, in an acid 200-page decision: "There is a strong possibility that the defendants are ready...
...ANTITRUST BATTLE is boiling up over Procter & Gamble's $30 million purchase of Clorox Chemical Co., biggest U.S. seller of household liquid bleach. Federal Trade Commission says that purchase gives P. & G. 48% of liquid-bleach market (v. 16% for nearest competitor), charges that combination of two companies may "substantially lessen competition" or "tend to create a monopoly" in home-laundry business...
...Ambassador West Hotel for 48 hours straight last week. Inside, a dozen high-priced lawyers barely paused to refresh. When they did pause at last, patent-challenger Zenith Radio Corp. had finally pinned heavyweight champ Radio Corp. of America after eleven years of legal jujitsu. In the biggest antitrust recovery in history, Zenith settled for $10 million in its $61.7 million suit against...
...More important, Zenith got royalty-free licensing rights from RCA and General Electric on black-and-white TV equipment, including tubes. It got similar rights on common-carrier communications equipment from Western Electric and the Bell System. At Philco Corp., which in 1956 filed a still pending $150 million antitrust suit against RCA involving color TV patents, nobody was talking yet. But after Zenith broke the ice, RCA's patent pool seemed to be thawing at last...