Word: cartel
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Dates: during 1990-1999
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Trippe managed to find one route where the cartel could not thwart him: New York to San Juan, Puerto Rico. Pan Am's one-way fare was $75, and the flights were packed. Finally, in 1952, Trippe's relentless attacks on the I.A.T.A. forced all airlines to accept the inevitability of tourist class. But by then his vision had taken off for its next destination...
...entire networks. Rozelle, however, did them one better. In the long-winded discussions about the money sloshing around professional sports, the structure of the businesses receives little attention. But the structure, as designed by Rozelle, has been largely responsible for the money. That structure, in a word, was a cartel...
Rozelle's next big move was to weld the owners of the new, expanded league into a cartel. This too required an exemption from the antitrust laws, which Congress granted in 1966. One morning the three major television networks woke up and found not a collection of individual teams competing with one another to sell their broadcast rights, but a single entity with a growing sense of its value...
...retrospect, the whole thing looks like an outrageous violation of old-fashioned American free-market principles. But in 1966 virtually no one but Rozelle was thinking of pro sports as a seriously big business. The notion of pro football's "bargaining power" was patently absurd. Having formed his cartel, however, Rozelle managed it in much the same way the Japanese zaibatsu manage their cartels--with a view to market share (read: global domination...
...talent for 1) persuading rich men who were unfamiliar with not having everything they wanted to take less than they deserved and 2) preventing full-scale revolt the minute the stakes became high. The subsequent endless pressures on Rozelle are familiar to anyone who has ever built a successful cartel--and cartels by and large fail. A member is more inclined to cheat the group the more successfully the group drives up his price. When Jerry Jones of the Dallas Cowboys cut a side deal with Pepsi to become the official drink of Texas Stadium, thus violating at least...