Word: antitrusters
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...based Berkey Photo, Inc., a relatively small competitor. When the same jury last week fixed the penalty, the reaction was genuine shock. Kodak, said the jurors, should pay Berkey $37.6 million in damages-and that was just the beginning. Because standard procedure is to triple damages for violation of antitrust law, the court is expected to raise the award to $112.8 million, one of the largest judgments ever against a U.S. corporation...
...motive for the still mysterious Watergate eavesdropping. Nixon, claims Haldeman, was out "to get" Larry O'Brien, chairman of the Democratic National Committee. Long a Nixon antagonist, O'Brien had angered the President by shrewdly exploiting a never proved charge that the Nixon Administration had settled an antitrust suit against ITT favorably to the giant corporation in return for financial help to hold the 1972 Republican National Convention in San Diego. Haldeman contends that Nixon and Colson, who had a personal hatred for O'Brien from old political campaigns in Massachusetts, hoped the Watergate bugs would turn...
...Muhammad All, in his hardest fighting trim, had been flattened by some tank-town lightweight. Berkey Photo, a financially rickety New York-based photo-products manufacturer and retailer of cameras, film and chemicals, with sales of about $200 million a year, won a favorable jury verdict in a marathon antitrust action against Eastman Kodak (1976 sales: $5.4 billion). During the trial, which lasted six months, Berkey claimed that it had been grievously damaged by Kodak's alleged monopoly power; Berkey lost $24.2 million in the first nine months of 1977. To the astonishment of many legal experts, the jury...
That is not only hubris. Nothing is certain in the murky field of antitrust law, and cases move glacially; the appeal may take several years to decide. And Kodak, with its enormous resources-$780 million in cash and marketable securities -will doubtless fight with fury to preserve the principle, as Fallen sees it, that the antitrust laws should not insulate competitors from the rigors of the marketplace...
Legal echoes of its competitive battles will keep Kodak tied up in court for years, whatever the final Berkey verdict. GAF has filed an antitrust suit asking the courts to splinter Kodak into no fewer than ten separate businesses. Pavelle, a tiny New Jersey firm that sank into bankruptcy in 1975, has brought suit asking, among other things, that the trademark "Kodak" be as freely available to the public as the term aspirin. Polaroid has also sued, contending that Kodak's instant cameras and print film infringed on Polaroid patents. Most ominous of all, the Department of Justice...