Word: antitrusters
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...Milton's Paradise Lost, "where armies whole have sunk." Most lawyers call it simply the "Big Case": the massive, sprawling suit that involves huge stakes, provides employment for legions of attorneys and drones on for years. The quintessential Big Case is U.S. vs. International Business Machines Corp., an antitrust suit by the Government charging the company with monopolizing the computer industry. Before the parties went to trial, they deluged each other with 30 million pages of documents. The actual trial, now in its fourth year, has produced a transcript of more than 86,000 pages. Brought by the Government...
...enormous risk by not touching every base," says Yale Law School Professor Geoffrey Hazard. "Look at IBM. If the Government wins, it'll be like dismantling a political state." With the stakes high and their meters running, lawyers are in no rush to judgment, he explains. "Many antitrust counsel make a professional specialty out of procedural maneuver," states a draft of the final report of the National Commission for the Review of Antitrust Laws and Procedures. "Many others, while lacking ulterior motives, are nonetheless too cautious or timid to face the merits of a lawsuit quickly and directly." Delay...
...complexity and sheer size of some cases. "How much can you narrow the issues when the question is, 'Did a two-decade course of conduct in an industry amount to willful monopolization?' " asks Judge Jon O. Newman, who presided over the SCM Corp.'s $1.5 billion antitrust suit against Xerox. Pretrial discovery took 3½ years ("Not bad, considering," says Newman), during which the judge had to write 46 separate opinions on procedural motions alone; such motions can be another delaying tactic that, in the words of Miller, is "limited only by a lawyer's demonic...
...answer that. It's a long list and a matter of confidentially working with people." This semester Spence is teaching Economics 2610, "Industrial Organization," which addresses, according to the catalog blurb, "The structure and functioning of markets in American industry, including market structure and the nature of competition, innovation, antitrust policy, and other public policies toward the regulation of markets...
...refinery shortage" in the '80s, in which an artificially reduced number of steel plants will make a killing. The Carter Administration is doing its best to bring this about: Attorney-General Griffin Bell approved Lykes' salvage plan of merging with LTV Corporation, despite the ruling by his own Antitrust Division that the merger was illegal because LTV operates Jones and Laughlin Steel...