Word: antitrusters
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...high. But Ling, sounding like an outsider who wanted to join an exclusive club at almost any price, now says that "we wanted to show them it wasn't a raid or anything like that." The takeover financially extended LTV; then the company was hit with a federal antitrust suit, which locked Ling out of Jones & Laughlin's management. So far, LTV shows a paper loss of $125 million on its holdings...
...meet his interest charges and bank loans. As he explains it, LTV will retire $112 million in loans due next year by selling either Braniff or Okonite, both of which Ling agreed to dispose of within three years in return for Justice Department withdrawal of the J. & L. antitrust suit. In February, LTV got $63 million by selling its holdings in Wilson Sporting Goods, and this too can be applied to the debt. Earlier this month, LTV Altec sold Allied Radio Corp. for $30 million. Meanwhile, Ling has had to expand some loans. Last week LTV Aerospace borrowed $32.5 million...
...three years ago, when his 26-year-old third wife divorced him and he married his present wife, then 23, within less than a month. Although the technical expertise he gained as a New Deal chairman of the Securities and Exchange Commission has been indispensable to a host of antitrust decisions, his legal craftsmanship can be careless. He writes articles for Playboy and other magazines, and is an outspoken off-the-bench activist on issues ranging from U.S. recognition of Red China to the ecological misdeeds of the Army Corps of Engineers. Such advocacy piques those who feel that Supreme...
...week that he would rather be in the steel business than in airlines and cable manufacturing. At the same time that he reported a 90% plunge in last year's operating profits of Ling-Temco-Vought, his once high-flying conglomerate, Jim Ling moved to settle a federal antitrust suit arising from his corporate acquisition of Jones & Laughlin Steel Corp. In order to hold onto the nation's seventh largest steelmaker, LTV will have to sell its controlling interests in Braniff Airways and Okonite Co. LTV also agreed in principle to refrain from "certain activities" for ten years...
Conglomerate Decline. It was probably not coincidental that Richard McLaren, the U.S. antitrust chief, told a Senate hearing last week that a new law to curb conglomerate mergers was no longer urgently needed because the number of such tie-ups declined in 1969. He claimed that the department's "strong stand" against conglomerate mergers had helped to reduce them. The LTV-Jones & Laughlin case was one of five antitrust actions filed last year in a drive against conglomerates. None of the cases has yet been tried in federal court. The Justice Department is likely to continue attacking big acquisitions...