Word: antitrusters
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...pumped some $1.5 billion into state and local law-enforcement agencies, although much of it has gone for riot-control gear and other unproductive frills. Far more effective has been the Administration's drive against organized crime. This is expected to continue, as is a new emphasis on antitrust prosecutions, including jail terms for corporate price fixers, and new attention to such white-collar criminals as stock manipulators, tax dodgers and perpetrators of consumer frauds...
...CASE. While the libel case was in train, the State of Washington, three cities, one port and eight public utilities in January 1970 brought civil suit against Alioto, whom they had retained to prosecute price-fixing suits against utility-equipment manufacturers. Alioto, one of the country's leading antitrust lawyers, had hired two attorneys to help him, and the trio proved all too successful: they won $16 million in judgments and received $2.3 million in fees, which Alioto split with the other two attorneys. The state and the other groups sued to have the entire sum returned. Though that...
...final flurry of activity on the last business day of the Johnson Administration in 1969, the Justice Department initiated one of the most sweeping antitrust suits since the forced breakup of Standard Oil Co. in 1911. In it, the Government charged that International Business Machines Corp. exercised such overwhelming power in the burgeoning data-processing field that genuine competition was impossible. The case has droned on fruitlessly since then; federal prosecutors have been forced to sift through 27 million documents provided by IBM in its defense. Last week, in response to a court order demanding that it spell out precisely...
...sale. Hughes' ex-Financial Adviser Noah Dietrich speculated that "he needs cash" to shore up his Nevada gambling interests and the Hughes Airwest airlines, both hard hit in the recession. Hughes may also need a reserve against the pressure of several pending lawsuits, especially a $145 million antitrust judgment awarded against him in favor of TWA, now on appeal to the Supreme Court. In addition, Hughes is involved in multimillion-dollar damage suits brought by Dietrich and former Aide Robert Maheu. Maheu found himself "absolutely flabbergasted" by the Toolco sale, recalling that "selling Hughes Tool was the one thing...
...than Richard Nixon to deal with a question of morality. One wonders if the greater immorality of the Vietnam War has blinded Americans to the glaring corruption of this Administration. Shabby scandals have surfaced with alarming regularity. In the ITT-Dita Beard case, the Republicans overlooked a violation of antitrust law when ITT promised to underwrite the Party convention in San Diego. In a similar manner, Nixon changed his mind and permitted the artificially supported price of milk to rise after sizable campaign contributions from the National Dairy Association. Small grain farmers did not profit from the U.S.-U.S.S.R. trade...