Word: antitrusters
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Zeroing In. Astoundingly, with confidence and capital markets quavering, the Government decided that this was the time to file the biggest antitrust suit in history. It called for the breaking up of the American Telephone & Telegraph Co., the world's largest business enterprise in assets ($67 billion), employees (1,005,000),. shareholders (2,930,000) and profits ($2.99 billion last year). Evidently, it is also to be the big coonskin in what President Ford claimed recently would be a major campaign to "zero in on more effective enforcement" of the antitrust laws. Long before the surprise suit is resolved...
...consent decree, which suggests Government approval of Bell's ownership of Western Electric, casts a long shadow. In any case, antitrust officials concede privately that they are so uncertain about the possible economic impact if they succeed in their suit that they are undecided as to how hard they should press for their maximum demands. Says one Antitrust Division spokesman: "We're leaving enough room to avoid any possibility of financial destruction of the company or destruction of the national telephone system...
NORMAN MINETA. Normally campaigning 18 hours a day, the popular mayor of San Jose, Calif., defeated Republican George Milias by attacking the Ford Administration's economic summit conferences and WIN buttons as merely "public relations" gimmicks. Mineta, 42, proposed lower interest rates and stronger antitrust action instead. He capitalized on his own record of holding down city property taxes by attracting new business to San Jose and landing federal funds to improve parks and the police and fire departments. Watergate was a factor, since Milias supported Ford's pardon of Nixon while Mineta protested it. Mineta is expected...
...jail" is a common command in the ever-popular game Monopoly. But in the real world, businessmen who break antitrust laws are hardly ever put behind bars; only 38 violators of the Sherman Anti-Trust Act have been sentenced to jail in that law's 84-year history. Now that situation could be changing. As part of its struggle against the nation's roaring inflation, the Ford Administration has announced plans for a sweeping new assault against anticompetitive practices, including price-fixing conspiracies and agreements between companies not to sell in each other's prime market areas...
...President, in his economic message last month, recommended a maximum fine of $1 million, v. the present $50,000, against corporations that violate the antitrust laws. Last week Attorney General William Saxbe added that the Department of Justice will more frequently bring criminal charges against businessmen it catches participating in price-fixing conspiracies. When Congress returns after the elections, the department will press it to classify antitrust violations as felonies rather than misdemeanors and increase the maximum prison sentence for such violations to five years, from one year at present. (Even that sentence is almost never imposed; the longest jail...