Word: antitrusters
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Dates: during 1960-1969
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...fight started as a mere skirmish between television giants maneuvering for position in the uncertain color-TV market. Philco charged that RCA, with some 12,700 patents, was freezing other manufacturers out of color, and in an antitrust suit asked $150 million in treble damages. RCA in rebuttal accused Philco of patent infringements and false attacks on the reliability of RCA's three-gun color tube, demanded $174 million in damages. As years went by, the fight descended into a hopeless tangle of side issues, including a Philco attempt to take over a Philadelphia television station operated...
...spirited bidders turned up last week when Western Bancorporation, a big holding company, carried out antitrust orders to sell off California's First Western Bank & Trust. Of the six, a little-known Texas insurance man named Troy Victor Post, 56, showed a clear and present advantage. Said a Bancorporation director: "Post's offer had something unique about it-money." Where most of the bidders offered complicated deferred-payment deals. Post unpocketed $69.5 million in ready cash. He quickly got First Western, which has assets of $612 million...
...action program," as the Eurocrats call their accelerated plan, proposes that the Common Market nations start next month on the complex task of coordinating social welfare schemes. In time, to equalize opportunity, the Six-plus Britain and other likely members-will standardize antitrust laws, transport rates, wage levels, and business and consumer taxes. Still more ambitious are the Common Market's plans to draw up a "single economic budget for the whole Community" and to "orchestrate" all its investment, production, consumption and credit patterns, starting in 1964. As a momentous first step, individual nations' budget and growth estimates...
...Prime Minister, Sato will not lack political skill. In 1954, when he was his party's chief fund raiser, he was accused of taking $150,000 in bribes from industrialists to ease antitrust laws. Replied Sato with icy aplomb: "My job was to raise party funds; I did nothing that any politician who knew his job would not have done." Like his brother, Politician Sato counts himself a firm friend of the West. Though trade-hungry Japan hopes ultimately to do some business with Red China, for the time being it has "no intention of going against free world...
...their subsidiaries eventually bought up 62% of the stock in the reorganized Richfield Oil Corp. Last week. 26 years after the deal went through, the Justice Department hauled Richfield. Cities Service and Sinclair Oil into Los Angeles federal court to answer a civil suit alleging violation of the antitrust laws...