Word: antitrust
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...Deal days, a forthright British industrialist was introduced to a trustbusting U.S. Government lawyer. Said the Briton: "I've read your books and I know you to be an intelligent man. I know that you know that these antitrust suits of yours don't really change anything. Why do you bring them?" Said the American: "I know they don't change anything. But what you don't understand is that these suits are like medieval miracle plays-designed to educate the people, to tell them how capitalism really works...
...soon learned that SCOTUS meant Supreme Court of the U.S.: one of her stories to research that first week was a court decision on an antitrust suit against tobacco companies (TIME, June 24, 1946). Six months later Liz was assigned her first cover story-Railroader Robert R. Young (TIME, Feb. 3, 1947)-and in 1951 she became head researcher of the Business section...
Among the antitrust suits left over by the Truman Administration was one filed in 1948 against the meat industry's big four-Armour, Swift, Wilson and Cudahy. Charging them with monopolistic practices dating back to 1893, the Justice Department wanted to break the companies up into 14 separate firms. But when a Federal District judge banned any evidence before 1930, the meat was gone from the meatpacker case, and the Democrats left it in a sort of legal limbo for the Republicans...
...bones about it. Its longtime boss, Lord McGowan (TIME, Jan. 17, 1944), was an outspoken champion of monopoly, and he eagerly made a deal with Du Pont to stay out of the U.S., if Du Pont would stay out of Britain. (After Du Pont and I.C.I. came under antitrust fire in 1944, most of their deals were dropped, others canceled after they were finally convicted in 1951.) By its own admission, I.C.I, now controls almost 100% of British alkali production, has a monopoly in nylon polymer and Nitro-Chalk, produces 60% of all British dyestuffs, and 90% of its chlorine...
...coast and is sometimes known as "Octopus Inc.," turned out to be a sport, not a business, just like baseball. U.S. District Court Judge Gregory F. Noonan, using the Supreme Court's recent baseball ruling as a precedent, threw out a federal monopoly case pressed under the antitrust...