Word: antitrusters
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TELEPHONES. The dismantling of Ma Bell in 1984, the result of a Government antitrust suit, is probably the most unpopular deregulatory move. According to a Wall Street Journal/NBC News poll published in April, 59% of consumers think the breakup was a "bad thing." One emerging problem is the perceived decline in the quality of the nation's telephone service since the Bell system was broken up. Customer complaints and confusion are at an all-time high...
...protectionist fervor. That is why Gephardt stands to gain from the trade fight in Congress. Labor is unlikely to forget that Hart strongly opposed an earlier version of the Gephardt amendment when he was in the Senate. His detailed proposals on trade, which range from modifications in the antitrust laws to a new international accord on exchange rates, are still ideas in search of a constituency. Yet even Hart sometimes yields to the siren song of playing politics with trade. He told cheering farmers in Amarillo, Texas, "This nation needs a sugar industry and can't rely on foreign imports...
...going to do something about all this, and I mean now!" So said a determined Transportation Secretary Elizabeth Dole last week as she complained about an old, exasperating problem in the airline industry: frequent flight delays. At Dole's request and with the promise of immunity from antitrust prosecution, representatives of 45 airlines met for four days in the ballroom of Washington's Westin Hotel. They proceeded to rewrite the summer flight schedules at sorely congested airports serving five major cities: Chicago, Philadelphia, Newark, Dallas and Atlanta. At Newark airport, for example, the airlines moved 13 of the 57 scheduled...
...number of federal court challenges to proposed transactions has declined by more than a third. Complained Democratic Senator Howard Metzenbaum of Ohio during hearings held last week by a Senate subcommittee: "Merger mania is rampant in this country today because the Reagan Administration has turned its back on antitrust laws." Metzenbaum has proposed legislation that would limit hostile takeovers...
Choice assignment for a lawyer, to work for millionaires in search of grubbing further millions from dead old ladies. Almost as good as working for a percentage of a multibillion takeover bid or antitrust suit. Lawyers come out of the woodwork when vast sums of unused capital are up for grabs...