Word: antitrusters
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Dates: during 1960-1969
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...many Europeans last week from the U.S. Justice Department's announcement that it would sue to prevent British Petroleum from acquiring control of Standard Oil (Ohio). In fact, much to the chagrin of the State Department, Justice lawyers appeared to be mechanically applying their strict interpretation of antitrust law to what they saw as just another merger-without appreciating that this merger was special enough to call for more delicate handling...
WHILE every special interest has a lobby in Washington, the U.S. consumer does not. Yet he is supposed to have one: the Federal Trade Commission. The FTC was created in 1914, partly to enforce antitrust laws and partly to stop misleading advertising, false labeling and deceptive sales practices-precisely the abuses that are most infuriating consumers now. By all expert accounts, the FTC has failed in its task. Last week a special commission of 16 lawyers, professors and economists appointed by the American Bar Association explained the reasons for that failure. The agency, charged the commission, is a model...
...challenge. Two major bills now pending in Congress could have significant results. One would strengthen the hand of prosecutors and grand juries in mounting investigations and make involvement in organized crime generally?regardless of the specific violation?a federal offense. The second measure would invoke civil procedures, such as antitrust action, to attack organized crime behind its screen of bogus legitimacy...
...proposed to phase out cigarette ads over a three-year period beginning in January 1970. Such ads mean some $225 million a year to media broadcasters, and they had hoped that their schedule would ease the economic jolt. When the tobaccomen made their proposal, they asked for protection against antitrust action. They were concerned that broadcasters might sue for treble damages on grounds that the cigarette companies acted in collusion. The possibility may not be so remote. The National Association of Broadcasters is determined to fight any antitrust exemptions for cigarette makers...
Stretching the Law. Although Mitchell's policy is backed by a surprising number of antitrust experts, others argue that if all mergers among the 200 biggest companies are forbidden, inefficient managements in those companies will be freed from any fear of takeover. There is also something disquieting about the idea of the Government attacking companies not because they have done anything wrong but because some day they might. A doctrine that would allow the Government to flail at big mergers also includes temptations for arbitrary action. Some businessmen, for example, have suggested that it is not entirely coincidence that...