About the Clayton Antitrust Act of 1914

About the Clayton Antitrust Act of 1914 The Clayton Antitrust Act of 1914, was enacted on October 15, 1914, with a goal of strengthening provisions of the Sherman Antitrust Act. Enacted in 1890, the Sherman Act had been the first federal law intended to protect consumers by outlawing monopolies, cartels, and trusts. The Clayton Act sought to enhance and address weaknesses in the Sherman Act by preventing such unfair or anti-competitive business practices in their infancy. Specifically, the Clayton Act expanded the list of prohibited practices, provided a three-level enforcement process, and specified exemptions and remedial or corrective methods. Background If trust is a good thing, why does the United States have so many â€Å"antitrust† laws, like the Clayton Antitrust Act? Today, a â€Å"trust† is simply a legal arrangement in which one person, called the â€Å"trustee,† holds and manages a property for the benefit of another person or group of people. But in the late 19th century, the term â€Å"trust† was typically used to describe a combination of separate companies. The 1880s and 1890s saw a rapid increase in the number of such large manufacturing trusts, or â€Å"conglomerates,† many of which were viewed by the public as having too much power. Smaller companies argued that the large trusts or â€Å"monopolies† had an unfair competitive advantage over them. Congress soon began to hear the call for antitrust legislation. Then, as now, fair competition among businesses resulted in lower prices for consumers, better products and services, greater choice of products, and increased innovation. Brief History of Antitrust Laws Advocates of antitrust laws argued that the success of the American economy depended on the ability of small, independently owned business to compete fairly with each other. As  Senator John Sherman  of Ohio stated in 1890, â€Å"If we will not endure a king as a political power we should not endure a king over the production, transportation, and sale of any of the necessaries of life.†   Ã‚   In 1890, Congress passed the  Sherman Antitrust Act  by nearly unanimous votes in both the  House  and  Senate. The Act prohibits companies from conspiring to restrain free trade or otherwise monopolize an industry. For example, the Act bans groups of companies from participating in â€Å"price fixing,† or mutually agreeing to unfairly control prices of similar products or services. Congress designated the  U.S. Department of Justice  to enforce the Sherman Act.   In 1914, Congress enacted the  Federal Trade Commission Act  prohibiting all companies from using unfair competition methods and acts or practices designed to deceive consumers. Today the Federal Trade Commission Act is aggressively enforced by the Federal Trade Commission (FTC), an independent agency of the executive branch of government. Clayton Antitrust Act Bolsters the Sherman Act Recognizing the need to clarify and strengthen the fair business safeguards provided by the Sherman Antitrust Act of 1890, Congress in 1914 passed an amendment to the Sherman Act called the  Clayton Antitrust Act. President Woodrow Wilson signed the bill into law on October 15, 1914. The Clayton Act addressed the growing trend during the early 1900s for large corporations to strategically dominate entire sectors of business by employing unfair practices like predatory price fixing, secret deals, and mergers intended only to eliminate competing companies. Specifics of the Clayton Act The Clayton Act addresses unfair practices not clearly prohibited by the Sherman Act, such as predatory mergers and â€Å"interlocking directorates,† arrangements in which the same person makes business decisions for several competing companies. For example, Section 7 of the Clayton Act bans companies from merging with or acquiring other companies when the effect â€Å"may be substantially to lessen competition, or to tend to create a monopoly.† In 1936, the  Robinson-Patman Act  amended the Clayton Act to prohibit anticompetitive price discrimination and allowances in dealings between merchants. Robinson-Patman was designed to protect small retail shops against unfair competition from large chain and â€Å"discount† stores by establishing minimum prices for certain retail products. The Clayton Act was again amended in 1976 by the  Hart-Scott-Rodino Antitrust Improvements Act, which requires companies planning major mergers and acquisitions to notify both the Federal Trade Commission and the Department of Justice of their plans well in advance of the action. In addition, the Clayton Act allows private parties, including consumers, to sue companies for triple damages when they have been harmed by an action of a company that violates either the Sherman or Clayton Act and to obtain a court order prohibiting the anticompetitive practice in the future. For example, the Federal Trade Commission often secures court orders banning companies from continuing false or deceptive advertising campaigns or sales promotions. The Clayton Act and Labor Unions Emphatically stating that â€Å"the labor of a human being is not a commodity or article of commerce,† the Clayton Act forbids corporations from preventing the organization of labor unions. The Act also prevents union actions such as strikes and compensation disputes from being in antitrust lawsuits filed against a corporation. As a result, labor unions are free to organize and negotiate wages and benefits for their members without being accused of illegal price fixing. Penalties for Violating the Antitrust Laws The Federal Trade Commission and the Department of Justice share the authority to enforce the antitrust laws. The Federal Trade Commission can file antitrust lawsuits in either the federal courts  or in hearings held before  administrative law  judges. However, only the Department of Justice can bring charges for violations of the Sherman Act. In addition, the Hart-Scott-Rodino Act gives the state attorneys general authority to file antitrust lawsuits in either state or federal courts. Penalties for violations of the Sherman Act or the Clayton Act as amended can be severe and can include criminal and civil penalties: Violations of the Sherman Act:  Companies violating the Sherman Act can be fined up to $100 million. Individuals – typically executives of the violating corporations- can be fined up to $1 million and sent to prison for up to 10 years. Under federal law, the maximum fine may be increased to twice the amount the conspirators gained from the illegal acts or twice the money lost by the victims of the crime  if either of those amounts is over $100 million.Violations of the Clayton Act:  Corporations and individuals violating the Clayton Act can be sued by the people they harmed for three times the actual amount of the damages they suffered. For example, a consumer who spent $5,000 on a falsely advertised product or service can sue the offending businesses for up to $15,000. The same â€Å"treble damages† provision can also be applied in â€Å"class-action† lawsuits filed on the behalf of multiple victims. Damages also include attorneys fees and other court cost s. The Basic Objective of Antitrust Laws Since the enactment of the Sherman Act in 1890, the objective of the U.S. antitrust laws has remained unchanged: to ensure fair business competition in order to benefit consumers by providing incentives for businesses to operate efficiently thus allowing them to keep quality up and prices down. Antitrust Laws in Action Breakup of Standard Oil While charges of violations of the antitrust laws are file and prosecuted every day, a few examples stand out due to their scope and the legal precedents they set. One of the earliest and most famous examples is the court-ordered 1911 breakup of the giant Standard Oil Trust monopoly. By 1890, the Standard Oil Trust of Ohio controlled 88% of all oil refined and sold in the United States. Owned at the time by John D. Rockefeller, Standard Oil had achieved its oil industry domination by slashing its prices while buying up many of its competitors. Doing so allowed Standard Oil to lower its production costs while increasing its profits.In 1899 the Standard Oil Trust was reorganized as the Standard Oil Co. of New Jersey. At the time, the â€Å"new† company owned stock in 41 other oil companies, which controlled other companies, which in turn controlled yet other companies. The conglomerate was viewed by the public – and the Department of Justice as an all-controlling monopoly, controlled by a small, elite group of directors who acted without accountability to the industry or the public.In 1909, the Department of Justice sued Standard Oil under the Sherman Act for creating and maintaining a monopoly and restricting interstate commerce. On May 15, 1911, the U.S. Supreme Court upheld the lower court’s decision declaring the Standard Oil group to be an unreasonable monopoly. The Court ordered Standard Oil broken up into 90 smaller, independent companies with different directors.

International Comparison Program(2005) Essay Example | Topics and Well Written Essays - 1250 words

International Comparison Program(2005) - Essay Example Therefore one can think of investment in either India or China. I took India as the country to develop new product because cosmetic, especially 100% herbal and vegetarian Lipstick with variety of shades can be a new product that can be developed in an Indian Market. The increasing urbanization and a growth in the number of office workers have resulted in a strong focus on grooming in that country. 65% of the total population of India is below 35 years of age but only around 30% of the women use lipsticks in India, so there is a wide scope to flourish in India. The USP (unique selling proposition) of this product is its attribute of being 100% Herbal and Vegetarian as almost 40% of the total population in India is vegetarian and till now no other company has launched this type of product in the Indian Market. Cosmetics and toiletries have seen tremendous growth in 2007. Growth was partly due to high levels of inflation but volume sales also saw dynamic growth. Rising income levels resulted in lower-income groups being able to afford more cosmetics and toiletries and also saw many trading up from unpackaged to packaged products. Meanwhile, mid- and high-income consumers in urban areas began to seek out value-added mass brands and premium products. India can be taken as the country to sell the product as Indian females are considered an epitome of beauty and they are more and more becoming beauty and fashion conscious. The product that can be marketed is a wide range of cosmetics (100%Vegetarian) especially lipsticks and it can be launched in the Indian market by the name: Zebra For the beautiful Diva in you Indian Culture:- Culture is the manner in which things are performed within a society, community or nation. Culture is not a trait that comes with birth but it is learnt over a span of several years. The major things that can be observed amongst Indian culture are as follows:- The Terpstra and Sarathy Cultural Framework helps marketing managers to assess the cultural nature of an international market. The Eight categories are Language, Religion, Values and Attitudes, Education, Social Organizations, Technology and Material Culture, Law and Politics and Aesthetics. 1. Language: - There are as many as 22 official languages in India. The national language of the country is Hindi and most of the people in the country are quite well versed with English as well owning to the British rule in the country for around 200 years. 2. Religion: India is considered to be a land of unity in diversity. Many religions are practiced in the country including Hinduism, Jainism, Buddhism, Islamism, Sikhism, Christianity etc. The cow is considered sacred in Hinduism. She is the one who should be worshipped for the various graces She bestows on humanity. 40% of the total population is Vegetarian. 3. Values and Attitude:- Generally people in India have a high regard for their elders. Although traditional roles are changing, especially in urban areas, there are important values shared by most Indian families. Normally, Indians hold family progress, unity and support in high regard throughout their lives. Mostly people live in an extended family, in which every member has their own role, often determined by age and gender. There is typically a head of the family who takes the major decision with respect to the family and his decision is respected by everyone in the family. Elders are supposed to use their experience and wisdom to help guide

DECISION MAKING PROCESS Research Paper Example | Topics and Well Written Essays - 500 words

DECISION MAKING PROCESS - Research Paper Example quential, and time-consuming process used when adequate planning time and sufficient staff support are available to thoroughly examine numerous friendly and enemy courses of action (COAs)† (The Military Decision-Making Process, n. d, p.1). The actions of enemies are important in taking decisions in military whereas in other organizations actions of the competitors are important in taking decisions. For example, Indian military usually take decisions about arms purchase based on the military equipment purchased by the Pakistan military. Pakistan has developed long range surface to air missiles recently and India also is trying to develop such missiles now. In short, the actions of the enemies are important in taking military decisions in a country. â€Å"The commander is in charge of the military decision-making process and decides what procedures to use in each situation† (The Military Decision-Making Process, n. d, p.1). In other words, autocratic decision making method is prevailing in military. In other organizations, CEO’s or the director board of a company is taking decisions mostly in a democratic manner. No subordinates can question the decisions taken by a commander even if the subordinate has 100% surety about a wrong decision taken by a commander. The slogan; superior is always right is prevailing in military organizations. Even though the ultimate decision would be taken by the commander, in many cases, the commander seeks the opinions of his subordinates before taking the final decisions. â€Å"The decision-making process in military begins with the receipt or anticipation of a new mission† (The Military Decision-Making Process, n. d, p.3). Military is always on the lookout for various kinds of missions. These missions involve not only attacking enemies and defending the sovereignty of the mother country, but also saving the lives of the people when they faces huge natural or manmade disasters. Before taking the final decisions, the commander and

People aspects of capital investment decision making Essay

People aspects of capital investment decision making - Essay Example Though these techniques have successfully gained popularity as deciding tool, however, influence from the human element on decision making still maintains its dominance (paper). Managers of the firm themselves receive impact from their traits leading to influenced preferences in making decision. Among many reasons that advocate the acceptance of human element weight in investment decision, it is also for the fact that capital budgeting techniques has some unanswered queries. For instance, subjectivity of the discount rate used to discount the cash flows. It further states that the outcome of decisions based on capital budgeting techniques does not facilitate learning function as each situation is considered different. Successes or failure of decision from the usage of these techniques are also attributed to manager; and it is a manager who receives promotion (demotion) on success (failure) of project and not the techniques. Also these techniques are not easy to employee and are consi dered as complex procedures. Hence, mentioned ones and many other reasons lead to advocacy to systematically include human element factor in decision making criteria (Simon (1955, 1959), Margolis (1958), and Cyert and March (1963). This report provides the critical evaluation of capital budgeting technique with application on hypothetical project of construction and discusses the impact of various factors mainly managerial implication in results. In the second part, human impact of managerial attitude towards risk is discussed in detail. THE ALTERNATIVE ‘OBJECTIVE PROCESSES’ EVALUATION The alternative objective processes evaluation has been conducted with developing hypothetical example from construction sector. Example is a construction project of three storey building. Project has an initial cost of UK ?. 75, 192 and has been financed by 60% debt and 40% equity. Table 1 provides cash flow details with application of capital budgeting techniques. Details of estimated i nitial cost, revenues, expenses, and loan are provided in appendix. Result of each technique application is discussed under heading titled to technique. TABLE 1: Cash Flow       No. Of Years 0 1 2 3 4 5 Working Capital ? 7,049 ? 7,593 ? 8,181 ? 8,814 ? 9,497 ? - Change in working -? 7,049 -? 545 -? 587 -? 633 -? 683 ? 9,497 Initial investment -? 75,193                Cash flow from Investing -? 75,193 ? 7,049 ? 7,593 ? 8,181 ? 8,814 ? 9,497                      Revenues ? - ? 64,721 ? 69,879 ? 75,449 ? 81,464 ? 87,959 Less: Total Expenses ? - ? 35,283 ? 37,609 ? 41,305 ? 44,888 ? 49,372 Cash From Operating ? - ? 29,438 ? 32,270 ? 34,144 ? 36,576 ? 38,587                      Cash Flow -? 75,193 ? 36,487 ? 39,864 ? 42,325 ? 45,390 ? 48,084 Interest Expense    ? 1,805 ? 1,471 ? 1,125 ? 765 ? 390 EBT    ? 34,682 ? 38,392 ? 41,200 ? 44,626 ? 47,694 Tax(0) ? - ? - ? - ? - ? - ? -                      Total Cash Flows(after Tax) -? 75,193 ? 34,682 ? 38,392 ? 41,200 ? 44,626 ? 47,694 R    ? 0.05 ? 0.05 ? 0.05 ? 0.05 ? 0.05 DCF -? 75,193 ? 33,031 ? 34,823 ? 35,590 ? 36,714 ? 37,370 PAYBACK PERIOD    -? 42,162 -? 7,339 ? 28,251       Based on the positive NPV, the project is suggested to be feasible to undertake. Moreover, evaluation of NPV and other

The South China Tiger Essay -- Endangered Species Wildlife China Essay

The South China Tiger As a result of â€Å"the South China Tiger [being] one of the most endangered tiger subspecies in the world† (State Forestry Administration, 2000) China implemented the China Action Plan For Saving the South China Tiger. China’s State Forestry Administration developed the plan because it was necessary to minimize the threat of extinction posed by humans to these tigers. Without intervention, the South China Tiger would go extinct. Historically, â€Å"The South China Tiger was widely distributed, [its range area was about] 2000 kilometers from east to west and 1500 kilometers from north to south† (State Forestry Administration, 2000). What lead to the South China Tiger being classified as extinct was the ignorance of people about the tiger’s ecological and reproductive fragility. According to the China Action Plan, â€Å"During the thirty years before 1980 the wild population of the South China Tiger suffered from continuous large-scale hunting, deforestation of their habitats for timbers, reclaiming of agricultural lands, and pollution from chemical fertilizers†. A combination of human encroachment and habitat destruction resulted in both a decrease in the numbers of South China tigers in the wild as well as a decrease in the habitat in which they were able to live. The Ministry of Forest of the Peoples Republic of China combined its efforts with the World Wildlife Federation to conduct a study of the South China Tiger from 1990-1992. â€Å"The outcome of the survey revealed that there were about 20 to 30 South China Tigers living in the wild at that time. Therefore, the South China Tiger [was] on the brink of extinction† (State Forestry Administration, 2000). There are two different types of South C... ...te Forestry Administration, 2000). The South China Tiger is only one of several species that is endangered due to human activities. It is important for both governments and individuals to become aware of the threats that they pose to species in order to prevent extinction in the future. Without knowledge and awareness many species will meet that same fate as those of the Dodo bird and the Passenger Pigeon. However with appropriate awareness, monitoring and preservation programs it is possible for humans to prevent the complete extinction of the so many vital species and organisms that share this planet with mankind. References 1- China Action Plan for Saving the South China Tiger, Draft Outline. State Forestry Administration, P.R. China. Oct. 2000 2- http://www.5tigers.org/Research/Schina.htm. 3- http://www.home.aol.com/tigertrail/china.htm

Studying Abroad Persuasive Speech Outline Essay

Introduction Attention Getter: If you want to learn about someone walk a mile in their shoes. What greater way is there to understand another culture’s point of view than studying abroad? Studying abroad is a life changing opportunity that benefits not only you but our nation and the world. Central Idea: I am going to tell you how you can during college by studying abroad. Establish Credibility: for the past couple of weeks I have been researching this topic, and because of what I have learned from this research I have decided to study abroad at some point during my college years. Preview Statement: First I will define what studying abroad is. Secondly I will discuss the benefits that studying abroad gives you. Thirdly I will talk about how affordable studying abroad is and the scholarships that are possible. Lastly I will give you a visualization. Body A. What study abroad is, well the education board for abroad defines studying abroad simply as a program in which students attend school in a country outside the United States and receive academic credit toward their major. Which here at USI, there are over 50 different countries that you could choose to study abroad in, according to the USI international website. B. Think of what studying abroad can do for your career. Studying abroad is so much fun you will forget that you are gaining academic credit while visiting another country. Not to mention the knowledge and experience that can help you succeed in future career options. The studying abroad experience is a great addition to any resume and can help you snag the job of your choice. By studying aboard it gives you that extra edge that employers might be looking for according to CNN.com. Employer’s desks are covered with stacks of applications but your experience from studying abroad will set you apart from other well quali fied applicants. C. A common myth most people think is that studying abroad is expensive, but it actually is affordable. Most students don’t believe that they can get scholarships for study abroad. In 2007, the House of Representatives passed a bill that would add more than $80 million every year to study abroad scholarships according to Hose of Representative members Salisbury, Umbach, and Pauslen. Most students look  for financial scholarships, when they should be looking for ability based scholarships. Lots of money goes untouched and there are a lot of scholarships for everyone going abroad, even professionals, according to Kruempelmann . Here are some tips that you can follow on slide 6 here. D. Try to picture a world where people are not allowed to leave the country that they are born in. Imagine the consequences we would face if we ignored the world around us. Lack of knowledge and understanding of other cultures could lead to disaster. Every culture benefits from the values, beliefs, traditions, and experiences of other cultures. The world is a better place when there is understanding among different cultures. Therefore, if you study abroad you can be an essential part of keeping the world together. Conclusion A. The rising benefits of studying abroad are undeniable and affordable! Going to a different country can be scary, but it can also be fun! You learn a different culture, language, and view on the world. There will be so many stories that you will never forget about from your time abroad. You will not regret it. B. I leave you with this quote from Henry Miller â€Å"One’s destination is never a place, but a new way of seeing things.

The Effect of Music in Students - 775 Words

â€Å"Music is an important and extremely useful tool in the way we learn and to deny its power is a waste of a truly wonderful resource† (Kristian David Olson). Many researches have shown that music can have an affect on a variety of different conditions, including; ones’ education, social connection, and mental healing. Educationally, music can prepare your brain for superior achievements. In effect, this can cause a better understanding of mathematics and language skills or abilities. Socially, music can help build ones’ character, self confidence, and also give a feeling of belonging. In other words, music can help build on the social aspects of students. One other way music has an effect is in mental healing. Scientific studies has shown that music therapy can result in a positive change on the body, mind and spirit of students. To begin with, music can add an educational value to students everyday. To show this in an example, we can use the research found by the National Center for Educational Statistics Morrison (1994). This research reported that on a sample size of 13,327 sophomores in high school those who were actively participating in a musical program expressed higher grades than those who were not involved in a musical program (Donald A. Hodges and Debra S. O’Connell). One way we can show that music can increase grades and achievements in students is in mathematics. Students that are participating in music not only perform better on mathematical assignments, butShow MoreRelatedMusic And Its Effects On Students2567 Words   |  11 Pagesâ€Å"Music has charms to soothe a savage breast, to soften rocks, or bend knotted oak†- William Congreve(Free 492). As William Congreve, English playwright and poet, said, music has the potential to do the impossible. Although music has this power, sc hools across the nation struggle to see the importance of art and music programs, as well as the benefit for students these expressive classes provide. The benefits include a better performance in projects and homework, a better work ethic, and a betterRead MoreMusic And Its Effect On Students1202 Words   |  5 PagesMusic is a defining element in cultures around the world, and people are surrounded by it. It appears in movies, sporting events, nature, and important ceremonies. Even though music is an important element of society and everyday life, it is starting to decline in the nation’s schools. Although music does not seem as important as other core classes such as math and English, it is often forgotten that music impacts students in ways that applies to their core classes. From a young age, music developsRead MoreThe Effects Of Music On College Students Essay1470 Words   |  6 Pagesstress, stress is especially apparent in college students. According to the National Alliance on Mental Illness, the country’s largest grassroots mental health organization, rates of anxiety and depression have skyrocketed in what many are calling a crisis of mental health on college campuses. More than 5 million college students struggle with mental health (Heck). Because of this, it is pertinent that one finds healthy coping mechanisms. Music is a plays a large part in every culture. No matterRead MoreThe Effects Of Music Programs On Students1246 Words   |  5 Pagesof reading music, and playing an instrument has proven to be beneficial to the learning curb in students including those of little to no background in a literary education to students in college. However, there are schools in America where music isn’t offered. Having a music program could create improved grades, memory, concentration, and quicken the learning process of literacy, but it is believed that music isn’t for everybody. Many parents and administrators believe that music is just a wasteRead MoreThe Effects Of Music On Young Disabled Students2863 Words   |  12 Pagesskills of young disabled students is fundamental in the special education field. Different methods and tools have been used to achieve these things, such as painting, physical exercise and music. The latter is considered one of the most effective ways to improve the skills of young students with special needs (Brown Jellison, 2012; Darrow, Standley, Swedberg, 2007). Since 1988, various researchers have investigated the effectiveness of using music with disabled students. For example, in1996, aRead MoreBurgess, Melinda, and Sandra Burpo. The Effect of Music Videos on College Students1100 Words   |  5 Pages Burgess, Melinda, and Sandra Burpo. The Effect of Music Videos on College Students Perceptions of Rape. College Student Journal 46.4 (2012): Academic Search Complete. Web. 27 Feb. 2014. Basically, the article is divided into three parts. The first part grouped evidence from several studies about the widespread of women’s portrayal as degraded sex objects in music videos of most types. Then the second part discuss theRead MoreHow Does Playing Music While Studying Relate to College Students Gpa?1746 Words   |  7 PagesAbstract Students have the ability to play music while they are studying. Studies have shown mixed results when it comes to listening to music while studying. This present study examines the differences in music listening habits while studying of students with low and high GPAs. Students with low GPAs did not listen to music more than students with high GPAs while studying. However, when listening to music while reading was examined, there was a difference between low and high GPA students. StudentsRead MoreMusic Vs. Classical Music916 Words   |  4 PagesClassical Music How often do you listen to music while you’re studying to try to make the task more entertaining? Students regularly listen to music while studying as a way to help them stay engaged in studying (Beentjes, Koolstra, van der Voort, 1996). Well, based on what music you listen to, you may actually be hindering yourself rather than helping. When students listen to classical music while they are studying it has many beneficial effects. It has positive body influences, it activatesRead MoreThe Effect Of Background Music On Short Term Memory1393 Words   |  6 Pages The Effect of Background Music on Short Term Memory Jiayi Shi Arizona State University Abstract The intention of this study was to examine the relationship between the different types of background music and people’s abilities to memorize and retain information. There are 18 participants in the experiment. They were asked to memorize and recall the given word lists with different background music. The result indicates that it’s easier for the participants to memorize word lists whileRead More Musics Effect on Intelligence Essay1194 Words   |  5 PagesMusics Effect on Intelligence Music is said to affect the intellect of humans in several different ways. Specifically, it is said to affect infants more than any other age group. Music can improve learning skills, test taking skills, concentration, heartbeat, and relaxation. Music has been proven to offer several benefits for infants, young children, young adults, as well as for adults. With all of this in mind, how can one connect music with intellect? Many recent research studies focus