Word: cartelism
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Dates: during 1950-1959
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Warned by the Better Business Bureau, police forwarded photos of two Lass "Picassos" to Picasso himself, and the master labeled both fakes. Museum experts declared the older pictures largely student efforts, with signatures clumsily painted in. The Lasses stood firm under fire, protesting that an international art cartel was out to get them. But the brothers' own art tastes seemed confused. "Picasso," said Mark Lass, "is a mere cartoonist." But when he was asked how much he would take for one of his "Picassos," he answered: "I would not sell under half a million dollars. I would destroy instead...
...will replace another government attempt to reduce oil use by setting up an oil cartel. Under the cartel, which Erhard also admitted was one of his little sins, major oil companies last December were pressured by Bonn to fix prices at $22 per metric ton (about $3 per bbl.) and not to advertise. But cheaper oil flooded in from neighboring nations and Iron Curtain lands. Small, noncartel companies cut oil prices as low as $15 per ton, tripled their market share to 25%. Last week giant Esso A.G., a subsidiary of Standard Oil Co. (New Jersey), alarmed because its share...
...Datsuns (37 h.p., 40 m.p.g.) that sell for $1,616, plans this month to bring in a still lower-priced model, next month to ship quarter-ton pickups and midget station wagons (50 h.p., 40 m.p.g.) to sell for about $1,600. Osaka's giant Daihatsu cartel has started to sell its three-wheeled midget pickup truck called Trimobile. U.S. price...
...present heir fairly apparent is a great advocate of free enterprise within certain limits set by the state, such as anti-cartel policy. He popularized his Social-Market Economy, a synthesis of welfare coverage and a high degree of freedom for German businesses. Erhard's stocky form and cigar seem almost symbolic of the sucess which rewarded West German reconstruction efforts...
...deals which "are important to the Foreign Aid Program." A U.S. company should be able to make a deal with a foreign firm, get approval from the State and Justice Departments and then feel confident that the trustbusters will not come chasing ten years later, hollering monopoly or cartel...