Word: antitrusters
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...knows his way around Washington as well as Wall Street, Carter Burgess, 45, last week moved up from the presidency to the chairmanship of widely diversified American Machine & Foundry Co., succeeding Morehead Patterson, who died fortnight ago. His acquaintance with both places should be useful: AMF faces an antitrust accusation of conspiring to restrain competition in the bowling industry, and a slowdown in its military contracting helped to cut AMF's first half-year sales 11%, to $185 million. Burgess, once president of Trans World Airlines, was an Eisenhower era Assistant Secretary of Defense, joined AMF in 1958. Burgess...
...alley. "Competition is vigorous and unimpeded," says Brunswick Corp. President Benjamin E. Bensinger, 56. Says his archrival, American Machine & Foundry Co. Chairman Morehead Patterson, 64: "Competition has been fierce and sanguinary." Thus it came as a surprise last week when Bobby Kennedy's Justice Department filed an antitrust suit against the two in a Manhattan federal court. The charge: that AMF and Brunswick had conspired with each other, and with the Bowling Proprietors' Association of America, to restrain trade by refusing to sell to businessmen who wanted to open bowling alleys in areas that the association had designated...
...agreed to pay an immense $7,470,000 for an out-of-court settlement of eleven suits brought against it by Government agencies that claimed to have been overcharged on G.E. equipment as a result of the conspiracy. All but $1,000,000 of the payment-the biggest antitrust settlement in history-will go to the Tennessee Valley Authority, which first blew the whistle on G.E. and 28 other electrical companies when it became suspicious of identical bids on heavy equipment...
...mammoth MCA Inc., which acts as agent for half or more of the U.S.'s top actors, is the nation's largest producer of filmed television shows, leases a library of old movies for late-night TViewing, and last year grossed $82.4 million. It would be an antitrust epic, and the story line would be that MCA, bossed by tough, taciturn Lew Wasserman, 49, blankets competition by packaging its own talent into its own shows, grabs off 25% of prime TV time by presenting the networks with an all-or-nothing proposition. And what better title than Hollywood...
When Billie's bubble busted. Commercial Solvents was left floating. The firm has since found itself a co-defendant with Billie Sol in a civil antitrust suit filed by Texas' Attorney General Will Wilson. The charge: conspiring to monopolize the West Texas market for anhydrous ammonia by underselling all competitors...