Word: antitrusters
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...challenge. Two major bills now pending in Congress could have significant results. One would strengthen the hand of prosecutors and grand juries in mounting investigations and make involvement in organized crime generally?regardless of the specific violation?a federal offense. The second measure would invoke civil procedures, such as antitrust action, to attack organized crime behind its screen of bogus legitimacy...
...proposed to phase out cigarette ads over a three-year period beginning in January 1970. Such ads mean some $225 million a year to media broadcasters, and they had hoped that their schedule would ease the economic jolt. When the tobaccomen made their proposal, they asked for protection against antitrust action. They were concerned that broadcasters might sue for treble damages on grounds that the cigarette companies acted in collusion. The possibility may not be so remote. The National Association of Broadcasters is determined to fight any antitrust exemptions for cigarette makers...
Stretching the Law. Although Mitchell's policy is backed by a surprising number of antitrust experts, others argue that if all mergers among the 200 biggest companies are forbidden, inefficient managements in those companies will be freed from any fear of takeover. There is also something disquieting about the idea of the Government attacking companies not because they have done anything wrong but because some day they might. A doctrine that would allow the Government to flail at big mergers also includes temptations for arbitrary action. Some businessmen, for example, have suggested that it is not entirely coincidence that...
...been slowing lately. Since 1957, the number of new wells drilled in the U.S. has dropped 40%; domestic reserves have remained nearly constant but demand for oil has increased by as much as 29%. Two weeks ago, Michael A. Wright, chairman of Humble Oil, told Senator Hart's antitrust subcommittee that 87% of the nation's oil needs by 1985 will have to come from reserves that have not yet been discovered...
Many businessmen believe that the Neal proposals to break up bigness would only reduce U.S. industrial efficiency and competitiveness in world markets. The chances seem remote that any of the recommendations will be written into law. Congress always has trouble agreeing on antitrust-law amendments, and the controversial ideas in the Neal report are political orphans...