Word: antitrusters
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...license fee for use of "telegraphic" wires. AT & T sold its stations, receiving the right to manufacture radio equipment on a limited basis, while RCA, General Electric and Westinghouse formed the NBC radio system, which operated two networks and dominated its field for years. By these actions, antitrust laws were circumvented; networks being new entities altogether, the danger of eventual broadcast monopoly was ignored...
Common Routes. The department filed briefs with the CAB supporting all three of the proposed acquisitions. On the other hand, the Justice Department, which is entitled to weigh in on the antitrust aspects of pending mergers, argued against American-Western...
Vertical Hold. The ITT action leaves unresolved one of the most crucial ambiguities in antitrust law: Does the Clayton Act, a keystone of the nation's antitrust policy for more than five decades, apply to conglomerates? The act clearly bans major acquisitions that "substantially lessen competition." It has been applied to horizontal mergers of directly competing firms and to vertical mergers of companies that have customer-supplier relationships. But it does not specifically forbid the kind of mergers that form conglomerates: those involving firms offering apparently unrelated goods or services. The Justice Department's three suits against...
...legendary energy to keep the company on a highly profitable course. The business lag has cut so deeply into U.S. computer investment that nearly all of IBM's 9% sales growth in the past two years (to $7.5 billion in 1970) has come from abroad. Antitrust pressures forced the company a year ago to break up into separate chunks its hardware-plus-services packages. As a result, small companies that offer specialized computer services are trying hard to undercut IBM's prices. To match them. Learson is sure to continue abiding by the senior Watson's famous...
Some matters were painstakingly negotiated. Nader Lieutenant David Leinsdorf, a 28-year-old former antitrust-trial assistant in the Justice Department, originally asked to interview no fewer than 750 Citibank officials and employees; the list was finally arbitrated to 53. Each interview was taped and conducted in the presence of a senior bank officer, an attorney and a public relations man-a team that usually outnumbered the two or three student interviewers...