Word: antitrusters
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...trigger. The Journal ventilated other grudges: "True, there were a few little [economic] problems. But the Administration was going to solve the dollar problem abroad by cutting Aunt Bessie's customs allowance. It was going to spur business by suing nearly every major company under the antitrust laws, and hold down prices by telling major industries what they could do. It was going to encourage savings by withholding taxes on savings, encourage farmers to solve the farm problem by putting them under the tightest controls ever ... It never made any sense...
...Concern about governmental attitudes. The investigation of the Securities and Exchange Commission caused unrest in the business community. And there has been widespread concern about antitrust action, although, Eckstein said. "Kennedy has probably done less on this than Eisenhower...
...Texas Attorney General Will Wilson prepared to file an antitrust suit against Estes, alleging that Billie Sol used capital gained from the grain-storage program to help him corner the liquid-fertilizer market in West Texas. Ledger accounts obtained by Wilson indicated that Estes had withdrawn $40,000 in cash from his bank account before flying to Washington in January. Even more mysterious was an Estes ledger entry showing $235,000 paid out for a "Washington project...
Trustbusters' Target. The manufacturing and the selling of cars are only part of the strain. Because G.M. has made itself so big, it must live in constant dread of the Justice Department's trustbusters. Since last summer, the Antitrust Division has assigned a special team of eight attorneys to keep watch on the giant automaker. The Government already has four antitrust cases against G.M. in pretrial stages: 1) a criminal indictment charging that the company has monopolized the diesel electric locomotive market by unfair use of its power as the railroads' largest freight customer; 2) a suit...
Donner denies vehemently that G.M. "has ever worked aggressively to stifle competition." But he insists with equal fervor that General Motors does not-and cannot-attempt to hold down its auto sales for fear of antitrust action. No institution, he argues, can sensibly set out to be second best, or to do less than its best. So long as General Motors continues to grow on the strength of price competition and product performance, he believes that both law and equity are on its side...