Antitrust: The High Cost of Price Fixing

When 29 of the nation's electrical equipment manufacturers were convicted of criminal bid rigging and price fixing in 1961, the gates were opened to a flood of damage suits. Customers have brought almost 2,000 suits against the electrical companies in the past four years. Two-thirds of them have already been settled, almost all of them out of court. Last week a federal judge in Manhattan handed down the second largest court judgment against the electrical companies since the Great Conspiracy was uncovered. He ordered the General Electric Co. and the Westinghouse...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!