Word: ftc
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Dates: during 1970-1979
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...Corp., the giant multinational conglomerate, finds itself in a new scrape. Last week the Federal Trade Commission charged that the ITT Continental Baking Co. Inc., a subsidiary and the nation's biggest baker, had engaged in illegal pricing practices to monopolize markets for its Wonder bread. The FTC asked that Continental be divided into two or more separate firms; in effect, ITT would have to sell off half of the subsidiary...
...actual figures show that oil companies have not made high profits. Although profits rose 55 per cent in 1973, the return on invested capital for the oil industry was 11.2 per cent, the same as 10 years ago. The FTC reports that oil profits in 1973 were 15.6 per cent compared to 14.8 per cent for all other manufacturing. More than a third of the nation's industries had higher returns. Actually, oil profits had been lower than the average for other manufacturing industries in eight out of the last ten years...
...demand substantiation for such statements as Shell's claims that it has a solution to oil spills with its "oil herder," a chemical pollution fighter, and that its offshore drilling platforms in the Gulf of Mexico are enhancing the environment for marine life. Within a few weeks, the FTC may ask the companies for data to back their claims. If the commission deems any ads misleading, it may demand that the companies run corrective ads. In that case, there could be a legal battle. The FTC has jurisdiction over product ads, but institutional ads may well be covered...
Roberta A. Ward, public information officer for the FTC in Boston, said yesterday that the commission would investigate the complaint...
...FTC Will Investigate...