Word: antitrusters
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...Prosecutor Jaworski to avoid indictment on a felony charge of perjury. At his confirmation hearings in the spring of 1972, Kleindienst had testified that no one at the White House had brought pressure on him in any way to influence the Justice Department's settlement of its antitrust suit against ITT. He later revealed that Nixon himself had phoned him and asked him not to carry the case against ITT to the Supreme Court. Apparently, Jaworski's staff prosecutors are willing to let Kleindienst plead guilty to a misdemeanor rather than a felony, giving him a better chance...
...campaign funds. Jaworski is also seeking further evidence, and he may subpoena that as well. The evidence being sought includes tapes and documents related to: 1) the possible "sale" of ambassadorships to large contributors to Nixon's political campaigns; 2) the Administration's settlement of an antitrust suit against ITT after a large campaign contribution was pledged by the company; 3) meetings at which Nixon and his aides discussed increased dairy price supports and a $2 million pledge of campaign aid by milk producers; 4) Nixon's notations from the summer and fall...
...flag carriers are finding it increasingly difficult to compete with government-subsidized foreign airlines. Last week Pan Am, which lost $7.6 million in January alone, asked the CAB for permission to discuss combining a number of its routes with TWA, which lost $21 million in January. The request raises antitrust complications and will have to be cleared by the Justice Department. If approved, the partial merger likely would allow Pan Am to abandon some foreign cities now served by both lines-London, Paris, Rome, Frankfurt and Lisbon-and pool its revenues with TWA on other international routes. TWA professes "interest...
...Hartford Fire Insurance Co. nearly four years ago has long been a financial and political cause célèbre. It was the biggest merger in American corporate history, and has been the subject of furious controversy concerning the circumstances under which the Justice Department settled an antitrust suit that had sought to break up the combination. Last week, after the dispute had finally faded, the Internal Revenue Service suddenly revived it.The IRS had paved the way for the merger in the first place by ruling that the insurance company's owners did not have to pay capital...
...worth having a system of "patronage" that would collapse if collectors, who have been known to realize profits as high as 10,000%, were compelled to give artists 15% of the wind fall. The arguments against artists' royalties have the bristling, reactionary tone of oldtime corporate protests against antitrust laws. If some of the investment hysteria evaporated from the art world, it would be a spiritual gain - and probably it would not damage the well-being of living art ists. But since the speculation does go on, it would be nice if at least some of the cash were...