Word: antitrusters
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...department is shifting course on other important fronts. William Baxter, chief of the department's antitrust division, will ease the regulations on corporate mergers, and announced that only those couplings that hit the consumer with higher prices will be challenged. Smith is also seeking to trim the Freedom of Information Act and repeal the Ethics in Government Act's requirement that a special prosecutor be named when a high federal official is suspected of a crime. Moreover, the Attorney General last week abolished a set of guidelines adopted by the Carter Administration to limit Government lawsuits against "whistleblowers...
Regulation of Trade Practices. The Federal Trade Commission now makes cost-benefit analyses before issuing new rules. The Administration has also cut back on the funding and powers of the FTC's antitrust division, which it had originally hoped to eliminate. As a result, the FTC has been less aggressive in opposing corporate mergers, a reversal that may be helping to fuel the recent rash of takeover bids. Last week an FTC official ruled that antitrust actions against the three largest cereal companies be dropped. The commission is also backing away from plans to regulate nonprescription drugs, require used...
Still another company problem has been battling a seemingly endless antitrust case. On its last working day in office in January 1969, the Johnson Administration filed a suit that accused IBM of monopolizing the U.S. computer industry...
Three Administrations have since argued that IBM's market dominance should be diminished. The transcript of the court proceedings in the case now runs to 200,000 pages. Reagan antitrust officials, though, may favor an out-of-court settlement rather than continued litigation and appeals...
...great unknown remaining after the fight for Conoco is the Justice Department's attitude toward a merger between two oil companies. Two weeks ago, Antitrust Chief William Baxter gave the green light to a Du Pont-Conoco deal. Yet, despite heavy pressure from Mobil, he did not express an opinion on a Mobil-Conoco merger. In fact, he appeared to be indicating that he might block it, when he said: "If they think we're generally soft on mergers, they're going to be in for a big surprise." If Mobil, Texaco or another member...