Word: antitrusters
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There are few blockades for inflation in the U.S. One traditional means of control is antitrust laws to break up concentrated industry and to create price competition. But Nixon's intervention to stop an antitrust action against ITT and the recent Congressional defeat of excess profits taxes upon oil companies leave little doubt that such an attack on monopoly would be impossible, given the present degree of business influence upon the government...
...Hughes' pathological resistance to taking the witness stand and surrendering documents. In the end, after selling TWA stock (which cost about $90 million when he acquired it) for some $550 million, Hughes was vindicated by the Supreme Court, which overturned the lower courts' $145,448 million antitrust judgment against the eccentric Texan...
...second Watergate grand jury, sworn in last August to deal with an antitrust action against ITT, illegal cam paign contributions and other misdeeds, is having similar problems. Last week the jury's foreman, Julian G. Murphy, 54, an independent insurance broker, said that he was quitting because his in come had "dropped at least $1,500 a month, and my business was going down the drain...
...paper's extensive coverage of Father James Groppi's open-housing marches in 1967 and 1968 blurred the mayor's liberal image. When the Journal later criticized the concentration of all Milwaukee's model-cities strategy inside the mayor's circle, Maier proposed antitrust legislation against the Journal Co.'s news empire (it also owns the city's other daily, the morning Sentinel, plus radio, TV and rural cable stations). Yet the paper endorsed him for re-election to a fourth term in 1972, support which the startled mayor quickly repudiated...
...problem goes beyond a simple rejection of the Establishment or a distrust of growth that provides too much quantity and too little quality, he said. A more basic explanation is that business has "an almost unbroken record of opposing legislation that the public thinks is good. The Sherman Antitrust Act, the Federal Reserve Act, the Federal Trade Commission Acts, the Securities Exchange Act - we fought every one and lost...