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A look back.

Fifty-five years ago this week, President Harry S. Truman signed a bill exempting manufacturers from antitrust violations for setting retail prices that stores were required to accept. The McGuire Fair Trade Act, passed to overcome the Supreme Court's ruling that previous fair trade acts were unconstitutional, was hailed by manufacturers as a boon to small retailers--since it forbade "cut-price" retailers from underselling them--according to a story in Retailing Daily on July 16, 1952. Some small retailers supported the law, but "large department stores and discount houses called it 'an outrage and completely un-American.'" By 1975, all remaining fair trade laws ended.
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Title Annotation:home page
Publication:HFN The Weekly Newspaper for the Home Furnishing Network
Date:Jul 16, 2007
Words:101
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