Word: antitrusters
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Dates: during 1960-1969
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...mammoth MCA Inc., which acts as agent for half or more of the U.S.'s top actors, is the nation's largest producer of filmed television shows, leases a library of old movies for late-night TViewing, and last year grossed $82.4 million. It would be an antitrust epic, and the story line would be that MCA, bossed by tough, taciturn Lew Wasserman, 49, blankets competition by packaging its own talent into its own shows, grabs off 25% of prime TV time by presenting the networks with an all-or-nothing proposition. And what better title than Hollywood...
When Billie's bubble busted. Commercial Solvents was left floating. The firm has since found itself a co-defendant with Billie Sol in a civil antitrust suit filed by Texas' Attorney General Will Wilson. The charge: conspiring to monopolize the West Texas market for anhydrous ammonia by underselling all competitors...
...trigger. The Journal ventilated other grudges: "True, there were a few little [economic] problems. But the Administration was going to solve the dollar problem abroad by cutting Aunt Bessie's customs allowance. It was going to spur business by suing nearly every major company under the antitrust laws, and hold down prices by telling major industries what they could do. It was going to encourage savings by withholding taxes on savings, encourage farmers to solve the farm problem by putting them under the tightest controls ever ... It never made any sense...
...Concern about governmental attitudes. The investigation of the Securities and Exchange Commission caused unrest in the business community. And there has been widespread concern about antitrust action, although, Eckstein said. "Kennedy has probably done less on this than Eisenhower...
Donner denies vehemently that G.M. "has ever worked aggressively to stifle competition." But he insists with equal fervor that General Motors does not-and cannot-attempt to hold down its auto sales for fear of antitrust action. No institution, he argues, can sensibly set out to be second best, or to do less than its best. So long as General Motors continues to grow on the strength of price competition and product performance, he believes that both law and equity are on its side...