Word: antitrusters
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Manhattan Lawyer James V. Hayes, himself a onetime assistant U.S. Attorney General, put his finger on the basic trouble with the Government's antitrust policy. It was a "case-by-case approach," he said, following no thought-out long-range policy. It attempted to regulate the enormous U.S. economy of 1950 with a law drafted 60 years ago. "It may result," said Hayes, "in breakups of large enterprises even though it might be socially and economically advisable to maintain them as they...
...into seven separate grocery chains, the U.S. complained that A. & P. failed to mark up prices the normal amount. There was no question of monopoly, for A. & P.'s share of total business had shrunk from 11.6% in 1933 to 6.4% in 1949. In the same manner, Antitrust went after Wilmington's Du Pont empire, called it "the largest single concentration of industrial power in the U.S." But did this mean that it was thus, automatically, too big? Should the test be mere size or should it be efficiency...
When the Department of Justice went after the Great Atlantic & Pacific Tea Co. with an antitrust suit two months ago (TIME, Sept. 26), it thought it had a popular target. The trustbusters thought that small grocers would be glad to see the A & P chopped down to size. Last week A & P happily produced evidence that the trustbusters might have guessed wrong. In full-page newspaper ads in 1,800 cities...
There was no formal evidence that baseball was making any fundamental change in the form of its contracts, which Danny had characterized as "slavery" and a violation of the antitrust laws. Commissioner Albert B. ("Happy") Chandler seemed satisfied that the shadow had lifted for the time being. "I'm so happy about it," said Chandler, "I'd go out and get drunk, if I were a drinking...
...Federal Reserve Board's antitrust hearings in San Francisco against Transamerica Corp. last week entered their second year. For the past year, FRB has been trying to do two things: i) prove that Transamerica is a monopoly, and 2) force it to sell its holdings in Bank...