Word: antitrusters
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Dates: during 1960-1969
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...fined for breaking a federal law, the town's preachers and the rest of its' residents must inevitably make some jarring moral adjustments. Just that happened early this year in Pittsfield, Mass., when executives of General Electric (Pittsfield's biggest employer) were convicted of violating the antitrust laws (TIME, Feb. 17). In Christian Century, the Rev. Raymond E. Gibson, who then was pastor of Pittsfield's South Congregational Church, describes the resulting shock. It passed through several waves...
Later, when it became evident that the antitrust conspiracy, by lessening price competition, had encouraged smaller automated companies to cut into G.E.'s market, the executives' halos dimmed somewhat, says Gibson. It seemed harder to argue that what the executives had done was moral when it turned out to be unprofitable. But "by and large, the community did nof begin to censure the men involved until the deviousness of their manner of violating the statues was revealed- which suggest that they were polularly condemned for deviousness rather than law breaking...
...walked the vice presidents of the U.S.'s major airlines under an unusual safe-conduct guarantee from the Government. To allow the airline executives to come to realistic grips with their mounting problems and to work out some solutions, the Government promised them a seldom granted immunity from antitrust prosecution while they put their heads together. The meeting followed by only a week a closed meeting of major airline presidents with the Civil Aeronautics Board's new Chairman Alan S. Boyd-and illustrated the sorry state in which the lines find themselves. Result of the meetings...
...ANTITRUST. Though the Eisenhower Administration was equally vigorous in trustbusting, the Kennedys do it with more fanfare. Minnesota Liberal Lee Loevinger, chief of the Antitrust Division, has repeatedly raised business hackles-and depressed A. T. & T. stock-by incautious statements implying, unintentionally, he insists, that his lawyers are out after the giant communications company. In a series of electronic and banking mergers, the trustbusters have waited until the last moment to raise objections, and have refused to be deterred by court reversals; last week after a federal district court turned down their eleventh-hour effort to halt the merger...
...running battle that has raged for the past three years between the Government and the U.S. drug industry was shifted last week to the courts. Charging conspiracy to fix prices and limit competition, the Justice Department won a grand jury antitrust indictment against three of the nation's largest antibiotic producers and their chief executives. The defendants: American Cyanamid and its chairman, Wilbur G. Malcolm; Charles Pfizer & Co. and Chairman John E. McKeen; Bristol-Myers Co. and President Frederic N. Schwartz...