Word: antitrusters
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Dates: during 1940-1949
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...last week than who would play second base. Three black-robed U.S. Court of Appeals judges, sitting in as umpires on a $300,000 damage suit, prepared to call a play that could really hurt. In effect, baseball was told that its player contracts might be violating the U.S. antitrust laws and making "peons" out of professional ballplayers at the same time. Since baseball had been writing the same kind of contract for two generations, it was a little like being told, after years of married life, that the wedding wasn't legal after...
...Department of Justice last week fired its antitrust guns at the biggest target of all. In a federal district court in Newark, N.J., it charged American Telephone & Telegraph Co., biggest U.S. industrial corporation (gauged by its $5 billion in assets) and its manufacturing subsidiary, Western Electric Co., Inc., with "conspiracy to monopolize" the U.S. telephone business. The Government's attack, in preparation for more than a year, was no surprise. But not even A.T. & T. expected such a blanket barrage...
Back Talk. Armour & Co.'s Chairman George A. Eastwood had an answer to the Government's charge in an antitrust suit (TIME, Sept. 27) that meat packers had conspired to keep prices high, and thereby assure high profits. Because of the ten week packinghouse workers' strike and the upsurge in livestock prices last spring, Armour & Co. will wind up the year with a $2,000,000 loss on close to $2 billion in sales...
Wrong Decision? U.S. Rubber Co., which had just been fined $5,000 for conspiring to fix prices at home (TIME, Nov. 1), was in trouble again for its doings in the international market. Attorney General Tom Clark filed an antitrust suit against U.S. Rubber, its British subsidiary, Consolidated Rubber Manufacturers Ltd., and British Dunlop Rubber Co. Ltd. The charge: that the three companies had divided up the world rubber market, and prevented the unlimited flow of rubber products into...
...free 1947-Divorce. A federal district court approved Howard Hughes's proposal to split RKO's picture-making organization from its theaters, create two separate companies (TIME, Nov. 8), in effect setting a pattern by which Hollywood's major companies could make their peace with antitrust (TIME, Oct. 11). RKO will sell its interest in all but 30 of its 241 partly owned theaters, and keep most of its 80 wholly owned theaters. But Hughes will sell his controlling interest in the theater company within a year...