Word: fee
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Dates: during 1970-1979
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...minutes to local programming if they choose to. When the service first opened its mouth at 6:06.30 a.m. last Wednesday, some 80 stations had signed up-from Tuscola's WITT to NBC'S own FM station in New York City, newly renamed WNWS-for a monthly fee of from $750 to $15,000, depending on the size of the local market...
...before by the developer, the new check involved no more than a few hours of work, but every lawyer who replied to the Goldfarbs' inquiries (20 in all) said the job would cost more than $500-based on the minimum rate fixed by the local bar's fee schedule. Goldfarb decided to sue. Last week the Supreme Court agreed with him that the title-search fee schedule was "a classic illustration of price fixing...
Brushing aside the Fairfax County bar's contention that its price list was merely advisory, Chief Justice Warren Burger found that "the fee schedule was enforced through the prospect of professional discipline from the state bar. [A] naked agreement was clearly shown, and the effect on prices is plain." Such naked agreements were long common in bar associations; 34 states once had some kind of minimum fee schedule covering legal services. But in recent years the number has dropped to 18, as lawyers began to worry that they might indeed be subject to antitrust laws. The traditional theory...
Vain Effort. The court's unanimous decision did not specifically apply to all legal fees, much less to fees charged in other professions; but the implications are strong. "The decision shows that all professions are subject to the antitrust laws," exulted Alan Morrison, a director of Ralph Nader's Public Citizen, who argued the Goldfarbs' case. "Doctors, lawyers, accountants, engineers-all must now recognize that when they do business in the community, they'll be looked on as businessmen. It means lower prices and more competition." Indeed in Virginia, in a vain effort to head...
...small investor has not profited at all from the price war. In fact, some brokerage houses have set a new $25 minimum fee per trade, and most have raised charges to private investors 2% to 8%. There are some signs, however, that the fee trimming ultimately may spread to individual investors. Last week the small Wall Street house of Quick & Reilly, Inc. began cutting commissions as much as 40% (though it still charges a $25 minimum), and some other brokerages are offering complicated discounts on the second step of two-stage buy-and-sell deals. Hence the individual investor...