Word: antitrusters
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Dates: during 1960-1969
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...Kennedy is in part responsible for his own difficulties; indeed, in the best tradition of theatrical farce, his actions have redounded to his own severe disadvantage. He decided to let the House study the bill first so that the House Antitrust and Monopoly Subcommittee, a group conveniently free from Southerners, could work out legislation acceptable to both Republicans and Democrats. Instead, the subcommittee produced a bill much stronger than the Administration's, a bill which is now thought to be too strong to pass either House. And when the President sent his brother to ask the full committee to soften...
...Manhattan district attorney under Thomas Dewey, Tillinghast took over TWA in 1961 after Industrialist Howard Hughes was forced by the airline's lenders to put his 78.2% ownership of TWA in trust. When Hughes began sniping at the new administration, Tillinghast tied him into legal knots with an antitrust suit. He arranged additional financing for more jets, flew the line constantly to check on service, and shifted TWA's image from that of a tourist's to a businessman's airline...
...trustbusters' increased powers are in the hands of a new chief who pledges to wield them firmly but carefully. "I feel strongly that we shouldn't abuse our power," says Assistant Attorney General William Orrick Jr., 47, who took over the Justice Department's antitrust division this spring after serving in the State Department and as boss of Justice's civil rights division. Orrick followed Trustbuster Lee Loevinger, who filed a record 92 antitrust cases in 1962, irritated businessmen with his militancy and did not get along with Bobby Kennedy. He has been shifted...
...small but powerful division (300 lawyers, $6,600,000 budget) that Bill Orrick took over is well aware of its expanded powers. In the Brown Shoe case, the Supreme Court last year dealt a blow to corporate lawyers who thought that antitrust action could be directed only against a large concentration of power. It ruled that a merger between Brown and the Kinney retail shoe chain had to be broken up because it might result in restraint of trade-even though it involved only 5% of the U.S. shoe business. Last June the court went further and ruled that...
...merger possibility that we think we're going to be attacked on, we just forget it," says Executive Vice President Gene Trefethen of Kaiser Industries. Stauffer Chemical dropped its plans to buy American Viscose Corp. when the trustbusters showed interest. "It's enormously expensive to defend an antitrust charge," notes Moses Lasky, a San Francisco antitrust lawyer. "Just to have one of them brought against you is extremely serious financially...