Word: antitrust
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Dates: during 1980-1989
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Assistant Attorney General for Antitrust. Even some big-time investment bankers are wincing at the turmoil created by the megamergers that took place under the Reagan Administration's relaxed custody of the antitrust laws. This prosecutor will have to decide if there is such a thing as a merger that is too big, and if so, how to chop it down to size...
...California insurance quake may soon draw the attention of Washington lawmakers. While virtually no politician wants the Federal Government to regulate insurance, a broad coalition of consumer and other groups has urged Congress to end an antitrust exemption that insurers have enjoyed since 1945. The groups say the repeal would promote competition and drive down rates. So far, the industry has easily turned back the challenge. "Auto-insurance prices are driven by underlying costs," argues David Farmer, vice president for federal affairs of the Alliance of American Insurers. Removing the exemption, he says, will do nothing to cut hospital bills...
...level down to 39%. Moreover, Kraft has products like Miracle Whip and Philadelphia Brand cream cheese that have taken up permanent residence in * American refrigerators. Since Kraft products do not compete with those made by Philip Morris' General Foods subsidiary, Philip Morris argues that the merger would pose no antitrust problems...
...modest $500 million Fund to Rebuild America to provide Government grants for regional economic development. Like Bush, Dukakis glosses over the issue of where the money would come from. He rails against big mergers as anticompetitive, chiding former Attorney General Edwin Meese for not knowing the "difference between antitrust and antifreeze." Yet many trade experts believe that a relaxation of antitrust rules is necessary to allow U.S. companies to combine forces against foreign competition. Dukakis favors tougher enforcement of safety and environmental regulations, along with compulsory health insurance for workers that would be funded by companies. These are all worthwhile...
...that craggy plinth of probity who was recruited by the owners in 1920 to restore baseball's integrity after the "Black Sox" scandal during the previous fall's World Series. Like them all, Giamatti believes in healthy profits and baseball's privileged place high above such mundane matters as antitrust regulations...