Two pieces recently in The Times illustrate how the American public is forced to stand by as bewildered spectators while corporations are juggled about for the profit of small groups. In the April 8 story, "Lucky Rejects Takeover Bid, Studies Options," Lucky Chairman John M. Lillie was quoted about achieving "greater value for our stockholders." And on April 10, there was a Viewpoints column headlined, "What should Campeau Do With the Federated Empire?"
The fact that this question should be asked reveals how unrestrained power and outrageous behavior have become the norm in these takeovers. The question should be, what should be done for the best interests of the public and the employees?
Obviously, neither the public nor the employees have any rights. In a modern age we see employees turned into chattel that can only wait helplessly for the inevitable series of layoffs.
However, for both the public and the employees, there is recourse, one of the most powerful weapons of all--the boycott. What is needed is a boycott organization on a national level. A selective boycott would be used in the early stages of a takeover, making apparent, for example, that the public will not patronize stores and markets that are indifferent to the public's needs and interests.
Since this Administration refuses to control the financial raiders and speculators, the public's only choice lies in the organized boycott.