Word: co
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Dates: during 1950-1959
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...packaging industry has grown larger and larger-multiplying its volume sixfold in the past quarter-century -the number of companies has grown smaller and smaller. Last week the Justice Department struck hard at the industry's urge to merge. In an antitrust suit filed against Owens-Illinois Glass Co., it asked that the No. 1 U.S. glass-container maker (1955 sales: $370 million) be forced to sell off National Container Corp., the No. 3 paper-container maker (1955 sales: $95 million), acquired in a stock swap last October...
Three Suits. The suit against Owens-Illinois was the third antitrust case against the container industry in three months. The Justice Department also wants Continental Can Co. to dispose of Hazel-Atlas Glass Co., the No. 2 U.S. glass-container maker, and Robert Gair Co., the No. 2 paper-container maker. Largely as a result of the mergers, Continental Can sales jumped from $666 million in 1955 to more than an estimated $1 billion in 1956, and the company passed its traditional rival, American Can Co., to become the No. 1 U.S. container maker...
...outstanding holdout against industry-wide diversification is American Can Co., No. 1 tin-can maker, formerly top dog in the entire industry. Says American Can's President William C. Stolk: "We just don't want to acquire companies for the sake of expanding." But last year Canco expanded into fiber milk containers; this year it bought the Bradley Container Co. and branched into plastic bottles. Unless the Justice Department wins its antitrust cases, chances are the container industry will go right on making bigger packagers out of littler ones...
...another antitrust suit filed last week, the Justice Department accused Radio Corp. of America and its subsidiary, National Broadcasting Co., "of unlawfully combining and conspiring" to obtain TV stations in five of the nation's eight top markets. Specifically, said the trustbusters, NBC threatened last year to withhold its network affiliations, (and guaranteed programming) from Westinghouse Broadcasting Co. stations unless Westinghouse swapped its radio and TV outlets in Philadelphia, the fourth-largest TV market in population and retail sales, for NBC's radio and TV stations in Cleveland (which, said the complaint, was the tenth market), plus...
...legislators, Senators Humphrey and Kefauver and Congresswoman Edith Green of Oregon. Consequently, Paul Butler's hope that powerful members of Congress would join seems to have been overly optimistic, if not naive, for in intent and organization the group was both an insult and a threat to Johnson, Rayburn & Co...