Word: mclarens
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Growing Concentration. Washington's trustbusters have filed few major cases lately, but Richard McLaren, the Justice Department's antitrust chief, insists that there has been no slackening of zeal. The Administration's prime concern is controlling "merger mania," he explains, and recently there just have not been any big mergers to attack. Attorney General John Mitchell discouraged many corporate giants from contemplating merger by emphasizing in a 1969 speech that the Government would move to bar most acquisitions by the nation's 200 largest companies...
...view of Nader's Raiders and the authors of America, Inc., the Mitchell-McLaren policy is grossly inadequate because it leaves untouched the nation's already existing aggregations of economic power. The critics complain that the 200 largest U.S. corporations control about two-thirds of all manufacturing assets, a degree of concentration that some economists had not expected the U.S. to reach until 1975 at the earliest. The critics have brought up again the oldest question of antitrust policy: Is bigness, in itself, bad? They reply with a ringing...
...face an almost unanswerable question: How big is too big? The Nader team's advocacy of an absolute $2 billion limit on assets is an overly simplistic answer. There are genuine economies in large-scale operation, and nobody knows what is the optimum size of a company. Trustbuster McLaren wonders: "Do you apply the same limits to an aerospace company and a candy manufacturer? If not, how do you determine the proper size for each...
This year sports-car driver Donohue and his McLaren racer terrorized them, running at record-shattering speeds throughout practice. But fellow road-racer Revson, in another McLaren, won the number-one starting position when Donohue's car lost its edge, during qualifications. Donohue and Revson are the favorites, in that order, with the likes of A. J. Foyt, Bobby and Al Unser, and Mario Andretti left hoping that the McLarens break down...
Other top U.S. drivers suffered different misfortunes. Al Unser, winner of last year's Indianapolis 500, had to drop out when his Lola-Chevrolet developed oil pressure problems. A.J. Foyt drove a McLaren-Chevrolet until the motor quit. Follmer's Lotus-Ford suffered a broken rocker arm. British Driver Derek Bell, for one, regarded the U.S. cars as so much clutter. "It's frustrating," he groused, "for a Formula One driver to wait...