Word: cartelizing
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...railroad holding company, Northern Securities, in the early 1900s. The apex of Morgan's power came in 1901 with the creation of U.S. Steel, the first billion-dollar corporation. This was followed by International Harvester, the farm-equipment trust, and the International Mercantile Marine, the North Atlantic shipping cartel. In fact, Morgan presided over so many large-scale industrial consolidations that he recast the banker's role from that of handmaiden to master of industry...
...from pain, suffering and fear of death carries a price as a free-market product. But the real buyers are the government and health-insurance middlemen. American health care comprises an elaborate structure. Backstage, courageous nurses and ethical physicians keep things from falling apart. Reforming America's most powerful cartel requires enormous political courage. Wallowing with Kenneth Starr is safer. THOMAS A. MCGOFF Moscow...
...tart-cherry harvest looks to be of epic proportions, but the real shocker this year is the lifting of the official ban on the sale of single slices of fresh pie. Huh? For years, as a major sponsor, the Sara Lee Corp. has operated nothing less than a pie cartel during the cherry confab. The only slice of pie a visitor could buy was Sara Lee's, thanks to a sweet deal with festival officials. But in a saga evocative of the breakup of AT&T, the defrosting of Sara Lee's virtual monopoly has the locals chortling...
...Reno and Treasury Secretary Robert Rubin stood side by side in Washington Monday to announce the culmination of a three-year sting operation targeting Mexican bankers who laundered drug money for the Cali cartel of Colombia and the Juarez cartel of Mexico. The booty: $35 million seized -- with another $122 million to be confiscated from U.S. and foreign bank accounts, and more than 180 expected arrests. And there were drugs, too: Two tons of cocaine and four tons of marijuana...
...such non-member producers as Norway, Russia and Mexico stick to their agreed cutbacks totaling 1.5 million barrels. Analysts are skeptical over whether Russia, Venezuela, Nigeria and others will avoid the temptation to exceed their new production quotas, which would quickly unravel the agreement -- and even the oil cartel itself. After all, it?s not as if renegades face the prospect of having their legs broken or anything...