Word: mergers
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Dates: during 1960-1969
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...competitive economics of baby food jars and beer cans, aluminum cable and sodium chlorate, the U.S. Supreme Court is fashioning a broad extension of the Government's trustbusting powers. In two decisions last week, and a third in the past month, the court looked sternly upon mergers, whether in the same or in rival industries; it also raised new barriers against the acquisition of smaller competitors or the forming of joint ventures. In effect, it put corporate giants on notice that most future growth must come from within rather than by merger...
...that either would have gone into the line, of business alone. While the case was sent back to the lower court for new evidence of that probability, Associate Justice Tom C. Clark de clared for the 6-3 majority that "the same considerations apply to joint ventures as to mergers." > A major manufacturer cannot acquire the producer of a different but possibly competitive product. Specifical ly, the court disapproved of the 1956 merger between Continental Can and Hazel-Atlas Glass, ruling 7-2 that Continental's cans and Hazel's bottles were not in separate industries but were...
...monopoly in Cincinnati, the Justice Department passed over many likelier locales for an antitrust suit. Newspaper monopolies have become the rule rather than the exception in the U.S. Competition exists in only 52 of the 1,434 towns that publish daily newspapers. And where competition has vanished by merger, it has rarely been permitted to survive in spirit, as it does in Cincinnati. In Memphis, for example, another Scripps-Howard monopoly town, the two papers share the same plant and the same ad salesmen...
...greatest barrier to a Pennsy-Central merger has been labor's objection. Much of the barrier was removed last month, when the chiefs of 17 rail unions signed a job-protection deal with Pennsy Chairman Stuart Saunders and New York Central President Alfred Perlman. Terms: if the merger is consummated, the labor force cannot be reduced by more than 5% each year. An ICC hearing examiner will make a recommendation on the merger by year's end, and railroaders are hopeful that the ICC's eleven commissioners will give the two roads a go-ahead...
Anti-Yankee Feelings. This picture of business-government cooperation was not painted without problems. The two Standard Oil subsidiaries that began drilling in Venezuela in the early 1920s, and later Creole (which was set up in its present form by their merger in 1943), were often ripe targets for anti-Yankee feelings. In the early days, only Americans held top posts, employees lived in fenced-in company compounds, and Creole often engaged in shouting contests with the government. But under low-keyed President Harry Jarvis, 55, a 17-year Creole veteran who took over in 1961, the company has tried...