Word: antitrusters
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...China trip. Last week, though, the Nixon Administration found itself laboring under the shadow of what could be a major image-damaging scandal. The charge was that for a price-a $400,000 gift to help defray this year's G.O.P. convention costs -the Justice Department had dropped antitrust suits against the International Telephone and Telegraph Corp. The President was only indirectly involved, but the accusations-so far unproved -were aimed at his closest adviser, former Attorney General John Mitchell, and Mitchell's successor-designate, Richard Kleindienst...
...handful of companies dominate auto, aerospace, steel, aluminum and computer manufacturing so thoroughly that new companies find it nearly impossible to break in. If the U.S. wants to expand free enterprise in these and other basic areas, the Government will have to be come more vigorous in pursuing antitrust policies...
...center at a time, Norris branded their counsel "chicken-hearted." He has maintained an inventory of more than $300 million worth of computers and peripherals, about twice what the company's $540 million annual revenues would require. He has also spent $1.5 million annually since 1968 on an antitrust suit charging IBM with unfair trade and advertising practices; competitors doubt that he will recover enough in damages to pay the cost...
...that their lavish ad campaigns enabled them to keep out competitors and inflate prices. Kellogg, General Mills, General Foods and Quaker Oats were also accused by the agency of falsely advertising their products as body builders and aids to weight control. The case, which represents a new twist in antitrust enforcement, will almost certainly wind up in a long court battle. It raises a worrisome specter for all corporations that lean heavily on advertising for sales. The FTC is now considering hitting gasoline companies with a similar proposal...
...clashed repeatedly. Besides overseeing the comprehensive trade policy drafted by Peterson, which could well lead to a "Nixon Round" of tariff-cutting negotiations (TIME, Jan. 24), Flanigan will continue to be a contact man between businessmen and federal agencies on some key issues. These include the possibility of relaxing antitrust laws in an effort to give U.S. multinational corporations the same kind of backing abroad that many Japanese and Common Market firms receive from their governments...