Word: ftc
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Dates: during 1940-1949
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Universal Atlas is a subsidiary of U.S. Steel, so some steelmen thought that the parent might soon give the cue to abandon basing points in steel and many another industry. But short of more specific orders from FTC, the decision would come hard. To many industrialists it seemed that dropping the basing-points system-and using the alternative of discounts to meet competition-could cause as much trouble as holding on to them. The dilemma had been neatly, if inadvertently, pointed up by the Supreme Court itself...
...sold at a uniform price, no matter who manufactured it. To the court this was collusion, and a wicked practice that must be stopped forthwith. However sound the decision, it did not make things crystal clear. Just a week later, in another Big Business case, the Court upheld an FTC order which seemed to make the appearance of collusion inescapable...
...suckling ... In my opinion, book advertising trades too much upon the sensational-when it has too little of the sensational to offer. If books were food or drug products-and some of them are all too often in the latter category-book publishers would be the principal recipients of FTC cease and desist orders ... The first requisite ... is a good product . . . One of the first things the publishers ought to do is to pick better books...
...What the FTC wanted, in effect, was an f.o.b. system such as automakers use, with consumers paying the cost of a product, plus the actual freight to the point of delivery. For many a consumer close to a plant, this would mean a price cut. Those far away might find prices boosted, at least as long as materials were scarce...
...business by price-cutting mammoths. U.S. Steel's Chairman Irving S. Olds cried that elimination of basing points would result in wide dislocations of industry. He appealed to Congress to nullify the Court's decision with a new law. But there was no disputing FTC's stand that the system had caused cementmakers, and many another manufacturer, to set identical-and often rigidly high-prices on products with little regard for competitive conditions. They might find it hard to convince Congress that this was the free competition they said...