John F. Kennedy on Corporations

Threat of price-fixing probe got Big Steel to lower prices

The president created an informal task force on the issue. The Defense Department announced that a $5.5 million order for steel plates would go entirely to a smaller company that had not raised prices. The Federal Trade Commission promised a price-fixing probe. Senator Estes Kefauver announced that his Anti-trust and Monopoly Subcommittee would investigate the steel industry.

The resolve of the steel magnates broke when Inland Steel of Chicago, the eighth largest company in the industry, refused to raise its prices. Before long, Bethlehem Steel, the nation's second largest producer, capitulated, and the U.S. Steel caved in. Steel prices returned to the level they had been at the start of the week.

Source: A Question of Character, by Thomas Reeves, p.331-332 , Dec 10, 1997

Click here for definitions & background information on Corporations. Click here for a profile of John F. Kennedy. Click here for VoteMatch responses by John F. Kennedy. Click here for AmericansElect.org quiz by John F. Kennedy.
*Other past presidents on Corporations:*	*John F. Kennedy on other issues:*
*Former Presidents:* George W. Bush(R,2001-2009) Bill Clinton(D,1993-2001) George Bush Sr.(R,1989-1993) Ronald Reagan(R,1981-1989) Jimmy Carter(D,1977-1981) Gerald Ford(R,1974-1977) Richard Nixon(R,1969-1974) Lyndon Johnson(D,1963-1969) John F. Kennedy(D,1961-1963) *Past Vice Presidents:* V.P.Dick Cheney V.P.Al Gore V.P.Dan Quayle Sen.Bob Dole V.P.Walter Mondale *Political Parties:* Democratic Party Republican Party Libertarian Party Green Party Reform Party Natural Law Party Tea Party	Abortion Budget/Economy Civil Rights Corporations Crime Drugs Education Energy/Oil Environment Families/Children Foreign Policy Free Trade Govt. Reform Gun Control Health Care Homeland Security Immigration Infrastructure/Technology Jobs Principles/Values Social Security Tax Reform War/Iraq/Mideast Welfare/Poverty

Page last updated: Apr 28, 2013