Word: apex
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...keeping his own counsel, close-mouthed Howard Hopson reached far & wide. By 1938, Associated had bought or formed some 500 corporations. The top of the pyramid had been jacked far into the sky as Builder Hopson shoved more operating companies into the base, inserted sub-holding companies near its apex. At one time, some bottom operating companies had to feed through eleven layers to get their tribute to the capstone. Today Associated's assets are booked at more than $1,000,000,000. After attempts at simplification, it still has 18 holding companies, stacked as deep as six layers...
...Last week the Third Circuit Appeals Court ruled that the Sherman Act could not be invoked against a C. I. O. union by Philadelphia's Apex Hosiery Co., returned a triple-damage fine of $711,932.55, gave unions hope they are as yet beyond the purview of anti-trust laws...
...reads the heart of the Sherman Anti-Trust Act which was passed by Congress in 1890 to bust trusts. After 49 years U. S. employers are finding that it may perhaps be used to bust unions. Following the lead of Philadelphia's Apex Hosiery Co., last week Tom Girdler's Republic Steel Corp. sued John Lewis, C. I. O. and its steel unions and nearly 700 individual strikers for $7,500,000 under the Sherman Act and the related Clayton...
...ignorant as to believe that unions are not "responsible," not liable to suit. Other reasons: litigation is slow, costly, uncertain; employers sometimes prefer to try to break unions before they have acquired the power to restrain trade. Anti-union employers got their great awakening only last April when Apex won its verdict for $711,000 in triple damages against Branch 1 of C. I. O.'s American Federation of Hosiery Workers (TIME, April 10). The Apex strike was a sitdown, which the U. S. Supreme Court has declared illegal. If suits like Tom Girdler's can extend...
Last week a U. S. District Court in Philadelphia decided the case of Apex Hosiery Co. v. Branch i, American Federation of Hosiery Workers, William Leader et al. (TIME, March 27). The verdict: Branch i & its President Bill Leader would have to pay the well nigh impossible sum of $711,392.55 in recompense for damage done Apex's plant and business in a strike two years...