Word: antitrusters
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Dates: during 1960-1969
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...Quadros is keenly aware, his eco nomic austerity program is likely to jeop ardize his political popularity. But the reforms he promises - antitrust legislation, land reform, a general tax overhaul -should stand Brazil in good stead abroad as well as at home. Last week, as President Kennedy declared such reforms to be one of the conditions of U.S. aid to Latin American nations, Quadros sent special envoys to both the U.S. and Europe to arrange stretch-outs of old debts - and to investigate the chances for new loans...
Last week the acrimonious family quarrel came to an end. In Manhattan's Federal District Court, Pan Am was found guilty of violating the antitrust laws by its restraint of Panagra. Recommending that Pan Am divest itself of its 50% holdings in Panagra. Federal Judge Thomas F. Murphy said: "It is beyond dispute that Pan American blocked Panagra's independent entry into the U.S.-South American market in order that it may continue to share in substantially all traffic carried by Panagra...
Wearied by the constant warfare between the combatants, the Government filed an antitrust suit in 1954 against all three for conspiring to monopolize air traffic between the U.S. and South America. Real purpose of the Government's action was to separate Panagra from Pan Am to facilitate a merger with Braniff. In his 70-page opinion, Judge Murphy dismissed the charges against Grace and Panagra, thus cleared the runway for a possible Braniff-Panagra merger...
...BANK ANTITRUST ATTACK was started by Kennedy Administration, which filed three suits within six days to stop big-city bank mergers in Philadelphia, Lexington, Ky., and Milwaukee, charging bank competition in the cities would be endangered if mergers went through...
...that G.E. is setting up "new auditing techniques" to catch any price fixes, and that "more searching questions will be asked at executive business reviews." To make sure that the brass gets the message, the G.E. legal staff will lecture at all company levels on the pitfalls in the antitrust laws...