Word: ftc
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Many businessmen are already mired in time-consuming antitrust cases. The Justice Department is pressing monumental cases to break up IBM and AT&T, and the FTC is doing the same in a suit against Exxon and seven other oil companies. It is unlikely that the FTC suit will come to trial much before the 21st century, by which time the Government expects oil to play a diminishing role in the nation's economy...
...every high corporate executive, are severely limited: "Every decision made at my desk is influenced by some and sometimes most of the following: environmentalists, consumers, tax reformers, antinuclear protesters, the constraints of Government, the DOE [Department of Energy], the EPA [Environmental Protection Agency], ICC [Interstate Commerce Commission], the FTC, the state governments, the municipal governments, the effect on inflation, on labor union attitudes, and on the OPEC cartel...
...prove that competition would actually increase. Economist MacAvoy suggested that this approach was little more than a power play to make it easier for the Government to prove its antitrust cases. But, he contended, "the burden of proof should rest with the Michael Pertschuks of this world." The FTC is already empowered to act as both the prosecutor and judge in antitrust cases, and Senator Hatch is drafting legislation to transfer the judge's role back to the courts...
...companies that have $2 billion in sales or assets will grow fast, and yet each firm will have a smaller share of the nation's markets than at present. Meanwhile, the new activism in antitrust would concentrate more and more power in the Justice Department's and FTC's enforcement bureaus. Assistant Attorney General John Shenefield, the antitrust chief, told the group that the public has concluded, though reluctantly, that Big Government is a necessary counterweight to Big Business. If businesses continue to concentrate and grow larger, warned Ohio Democratic Congressman John F. Seiberling, the public will...
...used as a weapon, says the report, wearing down opponents to force a favorable settlement, or prolonging a profitable activity while its legality is interminably tested in court. When the Federal Trade Commission charged eight oil companies with stifling competition, the companies made more than 400 motions opposing FTC demands for documents. First filed in 1973, the case is still at least three years away from trial. Meantime, the companies continue to do business as usual...