Word: diamonditis
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Dates: during 1940-1949
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...bunch of match companies into an international stockmarket bubble. But Fairburn, a slower, solider worker, was the man who could almost always beat Kreuger at the match game-at least in the U.S. market, which is all that Mr. Fairburn ever cared much about. In sundry Kreuger forays into Diamond's bailiwick, Fairburn had a way of selling him U.S. match interests at a fancy price, but ending up with Diamond still in the saddle...
Justice v. Diamond. Besides Fairburn and five other match kings, this week's antitrust action named the five top U.S. match producers (starting with Diamond and all allegedly controlled by it) who account for 83% of all U.S. production, plus two British, one Canadian, and three Swedish companies. This cartel, charged Justice, controls some 75% of the world's match business (the Japanese* and the Russians handle most of the rest). Its members have divided up the world among themselves and, except in rare spasms of greed, scrupulously refrain from trespassing on each other's preserves...
...Diamond deals with Germany's I. G. Farbenindustrie left the U.S. almost barren of chlorate of potash capacity, an essential not only of match making but of ammunition, when war broke...
...favor to Swedish Match, Diamond refused to sell match-starved Latin America either match machinery (of which Diamond has a U.S. monopoly) or matches under the U.S. label...
...European-invented "repeating or everlasting match" - a pencil-size gadget that ignites on scratching, can be blown out and relit up to 140 times in a row - was suppressed. Diamond was glad to help keep it off the market because, as Justice quotes from Diamond files, it: 1) was "a distinct danger to the American match industry"; 2) "would be a fertile field for the rottenest kind of competition...