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Donald Trump $750,000 settlement with Federal Trade Commission for his two Anti-Trust Violations

 

In 1988 Donald J. Trump would settle to pay $750,000 with the United States government for his violation of the Hart-Scott-Rodino Act.  The Act itself was signed into law in 1976 by Gerald R. Ford.

The HSR Act provides that parties must not complete certain mergers, acquisitions or transfers of securities or assets, including grants of executive compensation, until they have made a detailed filing with the U.S. Federal Trade Commission and Department of Justice and waited for those agencies to determine that the transaction will not adversely affect U.S. commerce under the antitrust laws. While parties can carry out due diligence and plan for post-merger integration, they may not take any steps to integrate operations, such as an acquiring party obtaining operational control of the acquired party.

Without any notification Donald J. Trump would purchase millions in voting stock for two companies Holiday Corp. and Bally Manufacturing Corp.  Anti-trust laws prevents our market prices from being dictated from one company.

Bally Manufacturing, (Bally Entertainment), started out as a pinball and slot machine manufacturer in 1932 but by the 1970s it would expand into the casino business in Atlantic, New Jersey.  Its other business includes video games, health clubs, and theme parks.  Bally makes gambling equipment and was considered to have dominated the slot industry.

In the 1980s Trump began purchasing business on Atlantic City board walk and in 1982 he purchased a casino license. His purchase in the Holiday Corp. would make the Holiday Inn property the new setting for Trumps plan for a casino he would name  Trump Plaza Hotel and Casino.

 

 

 

 

 

ftc

About FREDERICA CADE

Most of the information you will see comes from some Federal/state Government documents or Federal/State Governm Agency. -----------------------------------------------The fellow that can only see a week ahead is always the popular fellow, for he is looking with the crowd. But the one that can see years ahead, he has a telescope but he can't make anybody believe that he has it. ~~~~Will Rogers __The woman who follows the crowd will usually go no further than the crowd. The woman who walks alone is likely to find herself in places no one has ever been before.~ Albert Einstein ~"I never work better than when I am inspired by anger; for when I am angry, I can write, pray, and preach well, for then my whole temperament is quickened, my understandingsharpen​ed, and all mundane vexations and temptations depart.” ~Dr. Martin Luther King Jr. _________________________________________________________________________________________ ~"The bosom of America is open to receive not only the Opulent and respectable Stranger, but the oppressed and persecuted of all Nations and Religions; whom we shall welcome to a participation of all our rights and privileges, if by decency and propriety of conduct they appear to merit the enjoyment".~___________________________________ George Washington, Address to the Members of the Volunteer Association of Ireland, December 2, 1783 Fredericacade@gmail.com

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