Word: ftc
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Dates: during 1970-1979
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...them rise as a means of forcing conservation and encouraging new development. But even that came a cropper last week. A House Commerce subcommittee heard staff members of the Federal Trade Commission charge that the gas industry deliberately understated reserves in order to win high prices. For example, the FTC officials contended, in 1971 and 1972 Union Oil for internal purposes assessed gas reserves in an area off the Louisiana shore at 7.2 trillion cu. ft.; at the same time, the American Gas Association was officially estimating reserves in the same region at exactly half -3.6 trillion cu. ft. Justified...
...away the Fords of Hertz, the Plymouths of Avis or the Chevies of National Car Rental. Last week the Federal Trade Commission charged that the Big Three of the auto-rental business had combined to make sure that consumers got no other choice. Hertz, Avis and National, said the FTC, have been conspiring since 1968 to freeze competitors out of airport trade, which constitutes 70% of the $700 million-a-year business, and to keep car-rental prices artificially high...
...FTC alleged that Hertz, Avis and National conspired to submit identical bids for concession rights at airports, and persuaded airport managers to set requirements for concessions that disqualified competitors. One rule they are alleged to have promoted requires that "concessionaires have a nationwide reservations network." The FTC also accused the three companies of fixing rental prices and stated that smaller competitors kept out of the airports charged 10% to 40% less...
...three rental concerns denied the charges. The FTC chose not to accuse the automakers of any violation, but a spokesman for Ford denied that the advertising agreements were anticompetitive and said the company had similar agreements with some of Hertz's smaller competitors...
...eventual FTC ruling on drug-price ads may presage a probe into the agreements by medical and bar associations that set fees charged by doctors and lawyers. Engman, who has vigorously pushed antitrust actions in his two years at the FTC, has talked before about "conspiracies of silence" concerning prices in other professions. Last week he said that the fact that druggists' antiadvertising agreements resemble understandings among other groups does not excuse the pharmacists but "may be a reason to take a hard look at doctors and lawyers...