Word: antitrusters
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Dates: during 1960-1969
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...General Motors' most pressing concerns is keeping Washington pacified. As the world's largest manufacturer, the company has long fretted over the possibility of antitrust action, even though it has taken over no domestic passenger-car firm for 50 years. Sensitive to the Administration's inflation worries, G.M. Chairman James Roche recently played the part of a diplomat in meeting with White House economists be fore announcing price increases (aver aging only 1.6%) on his 1969 models...
Such separateness, however, was not enough to satisfy the U.S. Justice Department, which filed an antitrust suit in 1964 to force Scripps-Howard to give up the Enquirer. Justice thought it was confronted with a clear case of monopoly because the Enquirer was not a "failing" newspaper - was in no financial trouble- when Scripps took it over. After years of resisting, the chain finally gave up last week and entered a consent decree to sell its majority stock interest in the profitable paper...
...ANTITRUST. Both men urge clearer Government guidelines to reduce uncertainty over what mergers may encounter federal opposition...
...will soon submit more evidence to buttress its stand. Never before has the SEC faced such pressures for radical surgery on the heart of the securities business. Even if it should finally side with the stock exchanges, the Justice Department could force the issue into the courts with an antitrust suit. That is a prospect that makes Wall Street shudder...
...more recently Hollywood's leading TV film producer, the Music Corp. of America has long been known in show-business circles as "The Octopus." The sobriquet still stands, even though the company (now called MCA Inc.) stopped handling talent in 1962 under threat of a Justice Department antitrust suit. Besides TV production, MCA has major interests in moviemaking (Universal Pictures), recording (Decca Records) and real estate (Universal City). Last week it agreed to link tentacles with Pittsburgh-based Westinghouse Electric Corp., itself no small fish when it comes to diversification...