Word: canteeners
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...dealt with efforts by ITT in early 1971 to enlist the Administration's support in quashing three separate antitrust suits under way against the corporation. U.S. district courts had previously ruled against the Government in two of the cases, which involved two lesser ITT subsidiaries, Grinnell Corp. and Canteen Corp. But Richard W. McLaren, head of the Justice Department's antitrust division, who had strenuously pressed the litigation, had already made known the Government's intention to appeal to the Supreme Court. The third and most important case, involving ITT's merger with the Hartford Fire...
...they want to. "I think my Marxist-Leninist level is quite low," explains Chao Kuei-wu, 46. "I need more practice in the fields to do more labor." Chao, who is married and has four children, receives his regular $35-a-month salary as the manager of a Peking canteen while attending the May Seventh school. He goes home once a month for four days to visit his family...
...were moved to shun ITT's myriad businesses-which include, among many others, running the Sheraton hotels, baking Wonder Bread and operating the U.S.-Soviet hot line. Even unfavorable Government action has turned to ITT's benefit. In the first quarter, profits from sale of stock in Canteen Corp. and Avis rent-a-car, which ITT must gradually get rid of to satisfy an antitrust decree, boosted total net a towering 45% over the 1972 period, to $142.6 million...
...bubbled Alexis Smith to Lana Turner, "it's so sentimental and sweet. Just like the days of the Hollywood Canteen." With one exception, perhaps. At the World War II canteen, movie stars used to serve coffee and dance with G.I.s on leave, but now, Bette Davis remarked, "men don't dance any more." That said, Bette spent most of the evening on the dance floor, explaining, "I just dance. I don't know what the dance is, but then I've never known." Jane Russell knew: she led a lurching conga line through Manhattan...
...broader question was whether ITT actually got a special break in the settlement, and whether the public interest was slighted. ITT was required to divest itself of six subsidiaries (Canteen Corp., Avis-Rent-a-Car, ITT Levitt & Sons, Hamilton Life Insurance Co., ITT Life Insurance Co. and one division of Grinnell Corp.), which, taken together, earned less than $40 million last year. It was allowed to keep Hartford Fire Insurance, which not only earned $105 million but also provides the large cash flow vital to an expanding company. The settlement was almost identical to a proposal made by the company...