Word: ftc
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Dates: during 1950-1959
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...find the answers, President Eisenhower asked the Federal Trade Commission to investigate the entire industry both at home and abroad. FTC's conclusion: the trouble is the way coffee is marketed all along the line, from plantation to pot (TIME, Aug. 9). The No. 1 offender, said FTC in its 1,000-page report, was Brazil, the world's biggest coffee producer and biggest U.S. supplier, with exports last year of 8,970,439 bags (43% of the U.S. total) worth $628 million. In effect, FTC charged Brazil's coffee industry with manipulating the market through misleading...
...main reasons for last winter's price boost, according to FTC, was the inaccurate forecast for Brazil's 1954-5 5 crop. A year ago, a biting frost hit Brazil's second biggest producing area in Parana, damaging nearly 250 million trees. With forecasts of a meager 13 million-bag crop, some 4,000,000 bags less than expected, a wild price spiral for coffee futures got under way. Actually, says FTC, the frost damage was relatively minor. Brazil's 1954-55 crop was less than 1,000,000 bags (8%) below the 1953 levels...
Under the Democratic Administration, the Federal Trade Commission followed the "per se" rule in cracking down on mergers, assumed that any merger involving a large sum of money probably interfered per se with competition. Under the Republicans, FTC has adopted a new "rule of reason." The test: Will a merger hamper competition in fact? As a result, only two merger cases are now pending before FTC. Of the hundreds of other mergers that have recently taken place, the great majority have served to give business a keener competitive edge...
When the price of coffee climbed alarmingly last January, President Eisenhower ordered the Federal Trade Commission to find out why. Last week, after seven months of searching (while coffee continued to go up), FTC gave its answer: Said FTC: "The increase in green coffee prices . . . from 58? to 96½? between December 1953 and April 1954, and the corresponding increase in average retail . . . prices from 91? to $1.18 . . . cannot be explained in terms of the competitive laws of supply and demand." In a report to Congress, FTC listed what it thought were the real reasons...
...remedy for high profits from coffee speculation, said FTC, is to clamp down on the New York Coffee & Sugar Exchange. One bill to regulate coffee trading has been passed by the Senate, but it is now tucked away in a corner of the House Agriculture Committee. In the pre-adjournment legislative jam, chances are that the bill will stay in the corner...