Word: ftc
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Dates: during 1950-1959
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Nevertheless, it was Adams' intent that most interested the subcommittee. Subcommittee Counsel Robert Lishman reminded Adams that he had, in 1953, telephoned Federal Trade Commission Chairman Edward Howrey to find out why one of Goldfine's woolen mills had been cited by FTC for mislabeling fabrics. Back from Chairman Howrey to Adams went a personal memorandum that identified the source of the complaint to FTC, and added: If Goldfine's company would "give adequate assurances that all their labeling will be corrected, the case can be closed . . ." Adams had passed this inside information along to Goldfine...
...Adams called Federal Trade Commission Chairman Edward F. Howrey to ask for the source of an FTC complaint against Goldfine for putting a "90% wool, 10% vicuña" label on cloth that actually contained some nylon. ¶ On April 14, 1955, when Goldfine was investigated again on the same charge, Adams got him an appointment to meet Chairman Howrey. Once there, Goldfine waved the Adams name like a magic sledge hammer. "Please get Sherman Adams on the line for me," he ordered, loud enough for nearby FTC staffers to hear. "Sherm, I'm over at the FTC...
Even after his telephone act at FTC, Goldfine found three of his companies slapped with "cease and desist" orders on their label violations. Nor had the committee proved by week's end that Adams had in fact done his friend any good in any of his Government troubles. Be that as it may, Goldfine understood how the Adams friendship let him wheel and deal. "He told me," testified Goldfine's latter-day enemy John Fox, publisher of the Boston Post, in court in April, "that as long as he had Sherman Adams in his pocket he could...
...control the industry's enthusiasm for extravagant claims and keep a watch out for harmful ingredients, both the Federal Trade Commission and the Food and Drug Administration occasionally have to step in. FTC allows harmless puffs-"ours is best"-draws the line at "youth-reviving creams" and at any inference that cells can be reborn by potions. Not only are claims sometimes false, but products downright harmful. The FDA recently ordered Ten-Day Press-On Nail Polish off the market in several states after 700 women complained that it made their nails split and break...
Some of the agencies have proved on occasion that they can overcome, or at least cut down, the lengthy and costly red tape that makes a nightmare out of the simplest issue. The FTC was a slow-moving bureaucracy when former Chairman Edward Howrey took over in 1953. He eliminated or bypassed many petty details of bureaucracy, cut the average time for processing an antimonopoly case from 65 months to 22 months today. Under present Chairman John Gwynne, only one in five FTC cases goes through the full and costly process; the others are settled by consent agreements...