Word: cartelizing
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Dates: during 1950-1959
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...Erhard the heart of Marktwirtschaft is the principle of free competition, firmly defined in the U.S.'s Sherman Act and subsequent antitrust legislation. Since 1950, the roly-poly Economics Minister has been struggling to persuade West Germany's Bundestag to pass its own anti-cartel law. At times, Erhard's fight-which Germans jestingly called "the Seven Years' War"-seemed hopeless. No European nation had ever adopted a law comparable to the Sherman Act, and none appeared less likely to do so than Germany, fatherland of the classic cartel. (In the mid-1930s, experts estimated that...
...have no employees, gross less than $5,000 a year, and keep two sets of books -one for themselves, one for the tax collector. Firm believers in high, fixed prices and low turnover, many sell only three shirts or two pairs of shoes a day, heartily approve the traditional cartel-mindedness of French manufacturers...
SLAVE LABOR PAY will finally be handed out by I. G. Farben liquidators, who are breaking up the former German chemical cartel. After long, bitter battle in German courts, liquidators will pay some $7,000,000 to about 4,000 World War II forced laborers, many of whom now live...
...profits jumped 130% to $16.6 million, though 1955 earnings of 6% on sales were not as favorable as Allied Chemical's profit of 8%, Du Font's 22%. But Faina's goal is as American as apple pie, though it may seem as unlikely in cartel-minded, low-wage Italy as pie in the sky. Says President Faina: "I want every workingman to have 100 shares of Montecatini, a home of his own, a car. a refrigerator and television in his living room. It can be done, and we're going...
Honor Among Usurers. In Osaka, Japan, Hockshop Proprietor Hiroshi Ueda, president of the local pawnbrokers' association, was fined 500,000 yen and kicked out of the cartel for charging customers 6% interest a month, a rate out of line with the customary bite...