Word: nader
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...loans. On the other hand, he added, the standards might well be too loose, thereby encouraging people to go dangerously into debt. Wriston, who is rarely without a sense of humor, piped up wryly: "Do I have a third choice?" The visitor did not smile back. He was Ralph Nader...
That was how Wriston, head of the nation's second largest bank, learned a year ago that he was about to join a growing list of corporate and public executives in a bracing experience: being "Naderized" by the nation's leading consumer activist. Nader arranged the visit to declare that Citibank had been chosen as the target of one of his encyclopedic studies. He wanted Wriston to open up to 16 young Raiders, mostly first-year law-school students, who would conduct the probe. Citibank's chief agreed to cooperate. To colleagues who worried about the project...
...first part of a two-part study was published last week, and TIME Correspondent John Tompkins interviewed Citibank officials about their experience with Nader's Raiders. Tompkins' report...
Even if it is conceded that bigness is dangerous, the critics 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...
...antitrust case showed that, between 1953 and 1961, three manufacturers of antibiotics incurred manufacturing costs as low as $1.52 per 100 tablets of tetracycline, which they sold to druggists at a fixed price of $30.60, or 20 times as much; the retail price was $51. According to a Nader report, the retail price has since declined to $5, partly because of publicity brought by the case...