Word: ftc
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Dates: during 1970-1979
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...large corporations as a means of enforcing ethical behavior has gone nowhere. A bill that would make it easier for consumer cooperatives to get bank loans squeaked by the House with one vote, but is stalled in the Senate. A measure that would have helped consumers fight adverse FTC decisions was rejected by a House committee earlier this year...
Significantly, the FTC found Blue Cross maintained its lowest ratio of hospital days per 1000 members where HMOs have the greatest share of the market. The implication drawn by the report is that Blue Cross did indeed respond to HMO competition by including preventive care in their packages and thus keeping their members out of hospitals...
...Newmont Mining. The Federal Trade Commission ruled in 1971 that Kennecott's Peabody purchase violated antitrust rules barring concentration in any given industry, arguing that the company could have entered the coal business by investing its own capital. After a five-year rear-guard battle against the FTC ruling in the courts, Kennecott's board, which includes such powers as John Schiff, chairman of the investment banking firm of Kuhn Loeb & Co., and Walter Page, president of Morgan Guaranty Trust, finally lopped off the coal business. Then it began considering ways to use the resulting billion-dollar bonanza...
...Carter Administration reportedly considered naming Pitofsky to head the Federal Trade Commission but then counted him out, perhaps, says a colleague, because of his "professorial air." Though undeniably a professor-he teaches antitrust and consumer law-Pitofsky is certainly no stranger to the FTC, having served from 1970 to 1972 as chief of its Bureau of Consumer Protection. As a teacher, Pitofsky favors the adversary system. Assigning a pair of students to each side of a lawsuit, Pitofsky gives them 30 days to prepare their arguments and then grills them on the law. Law students, says Pitofsky...
...with Peabody. Indeed, Wall Streeters give the copper company high marks for its prescience in getting into the coal industry ahead of everyone else. Yet that obviously was a mistake on Kennecott's part too. No other big purchaser of a coal company has been bothered by the FTC, even though some might provide clearer examples of potential antitrust violations than Kennecott. In other words, the FTC ruling, despite its success in court, has not been followed as a precedent, even by the FTC itself-though that hardly helps Kennecott...