Word: ftc
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...nearest drugstore and learns only when the pills are handed to him what they will cost. Last week the Federal Trade Commission proposed new rules that would permit pharmacies to advertise prices for prescription drugs so that patients can shop for the best bargains. By doing so, the FTC estimates, consumers could save $130 million a year...
...these bureaucracies to weigh the inflationary consequences of their decisions and 2) to maneuver for greater price competition within the existing rules rather than press for outright deregulation of entire industries. Later this spring, Ford plans to preach price-consciousness to the heads of the ICC, CAB, FCC, FPC, FTC, SEC, FMC, NRC (Nuclear Regulatory Commission), CFTC (Commodity Futures Trading Commission) and the CPSC (Consumer Product Safety Commission...
...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...
...FTC and Continental are old antagonists; in 1971 the agency charged that Continental was misleading the public when it implied that Wonder bread was something special, in ads that claimed the loaf "helps build strong bodies twelve ways." Now the agency accuses ITT management of nagging Continental to build itself up too rapidly; James Halverson, director of the FTC'S Bureau of Competition, says that "ITT set profit and market goals for ITT Continental that forced the subsidiary to adopt predatory practices." According to the FTC complaint, Continental practiced a classic monopolistic scheme: it would use high profits from...
...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...