Word: procter
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Does bigness, as such, constitute a violation of the Clayton Antitrust Act? Federal Trade Commission lawyers deny that the FTC has ever argued that it does. Nevertheless, the FTC surely appeared to be nearing such a doctrine in 1962 when it ordered Procter & Gamble to sell off Clorox Chemical Co., which P. & G. had acquired seven years earlier (TIME, Dec. 24). At the time of acquisition, Clorox held 49% of the U.S. market for liquid household bleaches. By buying the biggest bleach maker, the FTC contended, P. & G. avoided the risks of going into the field...
...three-judge Federal panel commanded the FTC to dismiss its order against P. & G. "The Supreme Court has not ruled that bigness is unlawful, or that a large company may not merge with a smaller one in a different market field," the judges wrote. "Yet the size of Procter and its legitimate successful operations pervades the entire opinion of the commission and seems to be the motivating factor which influenced the commission to rule the acquisition illegal...
Just completing a wholesale reshuffle is General Foods, after Procter & Gamble and General Motors the nation's third biggest advertiser, with billings last year of $111 million. Within the month General Foods has fired one of its four agencies outright (Foote, Cone & Belding), stripped a major account from another (Benton & Bowles), and rejiggered product assignments between the remaining two (Young & Rubicam and Ogilvy & Mather). In the process, General Foods showered $17.5 million in new accounts on two of the hottest agencies in the business: 13th-ranking Doyle Dane Bernbach, whose sophisticated soft sell for Volkswagen and inverted hard sell...
Millions of American housewives daily stop in front of a supermarket shelf and pick up a bar of Ivory soap, a box of Tide or Cheer, a package of Duncan Hines Cake Mix, a bottle of Clorox or Mr. Clean. For the maker of all these products, the Procter & Gamble Co. of Cincinnati, the pickings add up to sales of more than $2 billion a year and profits that reached $133.2 million in the fiscal year ended last June. P. & G. dwarfs its closest rivals, Colgate-Palmolive Co. (1964 sales: $806.6 million) and Lever Bros. Co. ($436.4 million...
...covers for 50? and cut the price of Clorox by 5? to 7? a bottle. Purex gave up, and by March 1958 its share of the Erie mar ket had sunk to 7%. Said the FTC, charging P. & G. with overwhelming its competitors: "In a fight to the finish, Procter & Gamble, whose aggregate scale of operations and fiscal resources dwarf the entire liquid bleach industry, cannot be bested." In 1963 the FTC ordered P. & G. to sell Clorox, and a decision on the company's appeal of that order is pending in the U.S. Court of Appeals in Cincinnati...