Word: antitrusters
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Dates: during 1960-1969
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...Texas Attorney General Will Wilson prepared to file an antitrust suit against Estes, alleging that Billie Sol used capital gained from the grain-storage program to help him corner the liquid-fertilizer market in West Texas. Ledger accounts obtained by Wilson indicated that Estes had withdrawn $40,000 in cash from his bank account before flying to Washington in January. Even more mysterious was an Estes ledger entry showing $235,000 paid out for a "Washington project...
Trustbusters' Target. The manufacturing and the selling of cars are only part of the strain. Because G.M. has made itself so big, it must live in constant dread of the Justice Department's trustbusters. Since last summer, the Antitrust Division has assigned a special team of eight attorneys to keep watch on the giant automaker. The Government already has four antitrust cases against G.M. in pretrial stages: 1) a criminal indictment charging that the company has monopolized the diesel electric locomotive market by unfair use of its power as the railroads' largest freight customer; 2) a suit...
...from the effects of President Kennedy's assault on the steel companies, the stock market was making a feeble attempt to rally. Then, shortly after 2 p.m., the news was flashed that a federal grand jury in New York had indicted U.S. Steel and three other companies on antitrust charges. The market broke, with steels leading the way down; U.S. Steel fell to 58, its lowest price since early...
Moral. The case involved several ironies. Among the customers allegedly injured were General Electric, Westinghouse and Allis-Chalmers, all of which were fined in 1961 for similar antitrust violations in rigging prices of electrical equipment. For the forging makers, the crimes (if crimes were committed) did not pay: Erie Forge suffered a net loss over the past three years, and U.S. Steel reported that during the past five years it has failed to make any profit on forgings. And considering that the steel companies were widely charged with inept timing in their abortive attempt to raise prices, it seemed ironical...
violations of the antitrust laws" as an automaker. What's more, added RCA darkly, if Philco proposed to examine "ancient history," RCA would do likewise-a clear hint that RCA was ready to rake up memories of some of old Henry Ford's highhanded tactics in the 1930s...