Word: antitrusters
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Dates: during 1960-1969
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...Government is entering a period in which its antitrust powers are wider than ever, but its chief trustbuster promises to be more selective in wielding them. Antitrust enforcement has always been unpredictable at best, but until recently it concentrated its fire on such common practices as price fixing, market splitting or the domination of a nationwide market by sheer size. No longer; nowadays, antitrust frequently means antimerger. Many businessmen are confused and worried about two court decisions in the past year that have given the Government broad authority to block virtually any corporate merger that so much as threatens...
Nobody ever got more political mileage out of a minor Senate subcommittee job than the late Estes Kefauver. As chairman of the Antitrust and Monopoly Subcommittee, he mounted crusading investigations into a myriad of alleged wrongs, from price rigging in the electrical industry to overcharging by drug companies. To replace the Keef, Mississippi Democrat James O. Eastland, chairman of the parent Judiciary Committee, last week named a man who is every bit as liberal as Kefauver was, but far less flamboyant and aggressive: Michigan Democrat Philip A. Hart, 50.* While Kefauver often seemed to regard bigness as evil and businessmen...
...postwar U.S. breakup of Japan's zaibatsu, the huge and powerful prewar cartels that controlled practically all of Japanese industry, was the most ambitious antitrust action in history. The reemergence of the zaibatsu has been hardly less ambitious. With scarcely a murmur to mark it, the steady reconcentration of the three biggest zaibatsu -Mitsui, Mitsubishi and Sumitomo-has been going on quietly but steadily since 1952. The three now account for more than one-third of Japan's total industrial and commercial business-and they are not finished yet. Last week executives from three big prewar Mitsubishi heavy...
...clubs" that control the three zaibatsu giants have stepped up their efforts to coordinate more closely the activities of the old zaibatsu elements still on their own. They consider it wasteful, for one thing, that Mitsui alone still has four competing chemical companies within its loose empire. A 1947 antitrust law passed by the Japanese government at the insistence of the U.S. Occupation authorities (and softened by later amendments) seems to be no obstacle; after all, it has not stopped the zaibatsu. Still, there are other problems, such as how the merging companies will juggle their foreign commitments. One Mitsubishi...
...states except Illinois and Kentucky impose great restrictions on Lloyd's operations. But there are high hopes for a bill, now being considered in the Senate Subcommittee on Antitrust and Monopoly, that would permit foreign insurers to operate more freely. In any case, Lloyd's is not really worried about the future. It believes that, year after year, the world is becoming a riskier place...