Word: berkey
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Dates: during 1970-1979
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...year ago, Berkey Photo (1978 revenues: $199 million) won a major victory over giant Eastman Kodak ($7 billion) in one of the largest private antitrust suits in history. A federal district-court jury in Manhattan found that Kodak, which made more than 80% of the film sold in the U.S. in 1973, when the case was first brought, and garnered over 60% of camera sales, not only had monopoly power in the amateur-photography field but had used this power unfairly. Berkey was awarded treble damages of $87 million. Now, in an equally stunning reversal, the U.S. Second Circuit Court...
...core of Berkey's complex case was a charge that Kodak abused its dominant position when it launched its 110 Instamatic camera in 1972. The camera used a special-size film that came in an easy-to-install cartridge. Other camera makers were riled because they were caught by surprise and lost sales during the time it took to develop models that could use that cartridge. Berkey argued that Kodak had exploited its dominance in film manufacturing to give its Instamatic an unfair advantage over competitors and that it should have told its competitors in advance about...
Kodak officials were naturally delighted with the decision, though their court troubles may not be over. Berkey may try to appeal Kaufman's ruling to the U.S. Supreme Court, or it can return to the district court with the part, of its suit that Kaufman said must be retried (this involved alleged abuses by Kodak of its dominant position in the photographic-paper market...
Still, Kodak has cause for concern. It plans an appeal of an adverse judgment in an antitrust case brought by Berkey Photo; Kodak could be ordered to pay damages as high as $113 million. Despite its dominance of the $8.5 billion photographic-supply market, Kodak has been unable to dethrone Polaroid in the instant-photography field, which accounts for 40% to 50% of the sales of nonmovie, amateur cameras. Kodak remains the industry's giant, but Polaroid has been catching up. On sales of $5.9 billion last year, Kodak's net earnings dipped 1%, to $643 million; meanwhile...
...company that has suffered some reverses lately. Kodak has been less than victorious in its battle with Polaroid in the instant-camera market, and Kodak's stock has plunged from a 1973 high of 151¾ to last week's 42⅛. What is more, Berkey's is not the only suit Kodak is contesting. Others have been filed by Pavelle, a tiny New Jersey firm that went bankrupt in 1975, and by GAF. There also is evidence that the Justice Department may be preparing an antitrust suit against the company...