Word: antitrusters
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...champagne toasts or blowing noisemakers to welcome the new year, the world's biggest company, the Bell System, died quietly. It broke up into eight giant pieces-a new and smaller AT&T plus seven regional holding companies-in line with an out-of-court settlement of an antitrust suit reached on Jan. 8, 1982, between the Justice Department and Bell...
Hammond Chaffetz, 76, an antitrust lawyer in Chicago, has been suspicious even longer, going back to New Deal days. Says he: "We could never trust the Russians then, and we cannot now. They have newer equipment than ours and the strongest conventional forces in the world today. If we gave up competing with them and let them have the balance of power, Europe would immediately give...
...closed Chevrolet plant outside San Francisco. When it was announced last February, the plan provoked cries of alarm from rival car manufacturers and set off an intensive Federal Trade Commission review. Last week, after GM and Toyota signed an agreement stating that they would abide by U.S. antitrust laws, the FTC gave the green light to the venture...
...action, which permits the partners to build up to 250,000 autos a year, was also strongly opposed by Commissioners Michael Pertschuk and Patricia Bailey. Pertschuk called the venture "a classic antitrust violation...
Dropping the case was one of the last official acts of Baxter, 54, who resigned his post the next day to resume his teaching position at Stanford. During nearly three years as head of the Justice Department's antitrust division, Baxter had dropped the Government's 13-year-old suit against IBM and generally made life easier for big companies with an urge to merge. Ironically, it was under Baxter, reluctant trustbuster at best, that the biggest breakup of all was achieved: that of American Telephone & Telegraph...