Word: kefauveritis
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Robert Paxton, former president of General Electric Co., swore before Senator Estes Kefauver's Senate Antitrust and Monopoly Subcommittee last week that he had just not been aware of how much illegal price fixing had been going on all around him. How come? Replied Scots-born Robert Paxton, a...
When Kefauver had finished with Paxton, he turned to a clutch of Westinghouse executives including Landon Fuller, assistant manager of the Westinghouse East Pittsburgh Division. Fuller, still employed by Westinghouse despite a price-fixing conviction, swore that his intentions had been only the best. Said Fuller: "We thought we were...
Smith testified that Vinson told him that President Paxton and he had met Westinghouse President Mark Cresap Jr. and Vice President Monteith in a Boston hotel room in June 1958 "to discuss transformer prices." Kefauver asked Smith: "Is it your belief that Arthur Vinson knew that you and your colleagues...
Recalled to the witness stand, Vinson was asked by Kefauver, "Do you still say you didn't know about meeting with competitors?"
At week's end, as the conflicting testimony piled up, the Justice Department disclosed that it has already called another Federal grand jury in Philadelphia to hear new evidence on price fixing in the electrical industry. Kefauver handed over the week's testimony.