Word: antitrusters
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...difference." In a decision that reverberated throughout the computer industry, stock market and financial community, he found that IBM had engaged in "sophisticated, refined, highly organized and methodically processed" efforts to force Telex out of the peripherals market. For damages, he awarded the struggling firm the largest antitrust judgment ever rendered in the U.S.-$352.5 million. Moreover, Christensen ordered IBM to revise drastically some of its business policies in ways that are designed to allow other computer firms to successfully compete against...
...potential profits on equipment that the smaller firm was forced to underprice as a result of IBM's "predatory" marketing practices. He also decided that Telex was due another $70 million in possible earnings on equipment that it might have sold but for the same practices. Following standard antitrust law, the judge then trebled the $117.5 million total, to the final award of $352.5 million. The actual damages calculated by the court, Cary claimed, assume that Telex would have increased its earnings ten times over a three-year period-a "highly unusual growth rate...
...award produced a highly unusual growth rate indeed for Telex-in one fell swoop it nearly tripled the company's total assets. Roger M. Wheeler, 47, the normally quiet, gray-suited chairman of Telex and the man primarily responsible for pressing the first successful antitrust suit ever decided against IBM, was jubilant. "The award is a great thing for us, but it is also a great thing for the industry," said Wheeler. "The customers will ultimately benefit because it will make for better products and better price performance." The company, of course, will not collect its sudden bonanza while...
...thing, other small peripheral manufacturers are expected to follow the Telex lead and file suit for their own alleged antitrust damages. For another, the decision may give impetus to a four-year-old Justice Department suit that has charged IBM with monopolizing the entire basic computer market...
...intellectual politician," says the law professor. But he readily admits that "in some areas I'm the Government's hired gun. I'd enforce a policy even though I might disagree with it." Indeed, as a scholar he has criticized the Nixon Administration's antitrust policy for not being sufficiently laissez-faire, but he is fully prepared to argue in court against his own academic position, if necessary...