Word: antitrusters
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Despite other pleas attesting to the public usefulness and position of the defendants, the federal judge handed out the greatest number of jail terms ever in an antitrust proceeding. He gave 30-day sentences to George E. Burens, 55, G.E. vice president and division manager, Lewis J. Burger, 49, G.E. division manager-both demoted from those positions since the indictment-Edwin R. Jung, 58, vice president of Clark Controller Co., and John M. Cook, 56, vice president of Cutler-Hammer Inc. He fined the 29 electrical companies a total of $1,787,000, levied fines ranging from...
...antitrust cases, executives may be fined but are rarely jailed. Judge Ganey sentenced Chiles to 30 days in jail. Chiles began automatically to return to his seat, but was startled to be seized by two armed deputy U.S. marshals and hustled off to the marshal's office to be fingerprinted...
...book value of the stock. To block the takeover, he went into federal court seeking an injunction to stop Ling from buying more stock, or voting what he has, plus an order making him sell his holdings, on the grounds that a merger with Chance Vought would be an antitrust violation...
Jersey Standard, a huge holding company, created a more powerful Humble (named after a town near the firm's wells in Texas) in order to have a company that can sell its products on a nationwide basis. The 1911 antitrust decision that broke up Standard Oil forbids the five remaining regional companies to invade one another's territories with brand names derived from the words Standard Oil. Thus Jersey Standard's popular Esso brand gasoline (from Eastern states Standard), for example, was kept away from Sohio (Standard of Ohio) territory and Calso (California Standard). By breaking...
...DIVERSIFICATION will keep Swift & Co., Armour & Co. and Cudahy Packing Co. from expanding into sales of nonmeat products such as fish, vegetables, flour, sugar, cigars, china and furniture. U.S. District Court reaffirmed 40-year-old antitrust decree that bars the big packers from entering retail trade, which they want...