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MARY ELLEN L. Du VALL...
Ever since June, when the U.S. Supreme Court ruled that Du Pont's 23% stock interest in General Motors Corp. was illegal (TIME, June 17). the Justice Department has been seeking the best way to divorce the two giants. Last week the trustbusters gave the first real hint as to how they will proceed. The one thing Justice will not accept, said Assistant Attorney General Victor Hansen, is one thing Du Pont would probably agree to: a permanent, nonvoting trust for Du Pont's 64 million G.M. shares. This, Du Pont hoped, would remove control without forcing...
Though no final decision has been reached, Justice's lawyers will probably demand that Du Pont sell its stock on the open market. But they are not likely to ask Du Pont to dump the entire 64 million shares all at once-something that would not only disrupt the market but also cost Du Pont a $600 million to $700 million capital-gains tax (25%) in one lump. To ease the pinch, the Justice Department favors a more moderate plan, under which Du Pont's stock in G.M. would go into a temporary, nonvoting trust, which in turn...
...MAURICE DU QUESNAY New Orleans...
...shows in its history: 25 specials for the nighttime slate, at least 48 news and documentary specials for Sunday afternoons. The CBS schedule is so tight that the four Frank Capra-produced Bell Telephone science shows had to move over to NBC. Splashiest of all will probably be The Du Pont Show of the Month, offering ten 90-minute spectaculars: Paul Gregory's Crescendo, a mishmash of American music with Ethel Merman, Rex Harrison, Louis Armstrong, Carol Channing and Peggy Lee; Mark Twain's The Prince and the Pauper; a musical edition of Junior Miss; and a Cole...