Word: antitrusters
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STEEL MERGER between Bethlehem Steel and Youngstown Sheet & Tube Co. (TIME, Oct. 11) is still in the works despite strong Justice Department warnings that it violates antitrust laws. The companies intend to test the Government's objections in court. At the first overt move, such as a registration statement on stock changes with the SEC, the Justice Department will file a suit to stop the merger...
...looked like one of the biggest stories of the year. It played the story atop Page One and ran it for several columns inside the paper. So did the Star's morning edition, the Times (circ. 336,824). The story: the trial of the Government's criminal antitrust suit against the Kansas City Star Co., which puts out both papers. The charge: the Star and its morning paper had killed off their chief rival, the Kansas City Journal-Post, and then used their monopoly position to force advertisers to do business on their terms, e.g., advertise only...
...Government, which lost its five-year antitrust suit to force Du Pont to sell its 22.6% ownership of General Motors Corp. two months ago (TIME, Dec. 13), announced last week that it would appeal the case to the U.S. Supreme Court. Normally, appeals from a lower court pick out errors of law. But in the Du Pont case the Justice Department said it would challenge Chicago Federal Judge Walter J. La Buy's entire interpretation of the evidence in the case. He had ruled that "Du Pont has not had, and does not today have, practical or working control...
...touched off the dispute with Antitrust when it ruled that Eastman Kodak Co. may sign Fair-Trade contracts with independent retailers, even though these retailers compete with Kodak's own retail stores. Nobody was more surprised at FTC's decision than the trustbusters. Only a month ago Eastman agreed to drop Fair-Trade pricing on Kodachrome and Kodacolor film after the Justice Department brought an antitrust suit against Eastman. One of the three charges was that Eastman sold through its own retail outlets in illegal competition with price-fixed Eastman film sold through independent stores. Thus, while...
Justice's antitrust experts complained that FTC's decision violated the spirit of Eastman's consent decree, would stifle competition and lead to price fixing by manufacturers. But FTC denied it was overruling the Justice Department, noted that it had specifically exempted from its decision the two Eastman products covered by the consent decree. To many a businessman, the trustbusters' inability to agree among themselves was the best proof that the entire field of Fair-Trade pricing and enforcement needed a thorough reappraisal...