Word: geneen
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Dates: during 1970-1979
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Despite the barrage of bad publicity, the moneymaking machine of Chairman Harold Geneen recorded its most profitable year ever in 1972. Worldwide operating net rose 12%, to $477 million, exceeding ITT's average increase for the past dozen years. Last week ITT announced that in the first quarter of 1973 operating profits rose 11% over a year earlier, to $105.6 million. Few if any customers 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...
JULY 16, 1970. Broe met with ITT Chairman Harold Geneen in Washington. The meeting had been proposed to Richard Helms, then the CIA chief, by John McCone, an ITT director and former head of the CIA. Broe said that Geneen told him that ITT was willing to put up a "substantial fund" to support a conservative candidate for President in the elections in Chile to be held Sept. 4. According to Broe, at that time the CIA declined the proposal because the U.S. was not supporting a candidate in the Chilean election...
SEPT. 9-10. Geneen told McCone at an ITT board meeting that he was willing to put up $1,000,000 for the U.S. Government to use in Chile. A few days later, McCone made offers to both Henry Kissinger and Helms of "up to $1,000,000 to support any Government plan for the purpose of bringing about a coalition of the opposition to Allende." McCone did not receive an answer...
...lose whatever compensation Allende had promised to pay; and unless the company can disprove the mounting evidence that its loss resulted from its attempt to interfere in Chilean politics, it may also lose its $92.5 million claim with the OPIC. To knock down that evidence will be Harold Geneen's task in testimony this week...
...roster of men who had been feted and pleaded with on the case by ITT Chairman Harold Geneen and other company executives included Vice President Spiro Agnew, former Cabinet Members John Connally, John Mitchell, Maurice Stans and Peter Peterson, Interior Secretary Rogers Morton, Presidential Aide John Ehrlichman and former Presidential Aide Charles Colson. The letters between ITT and Government officials suggested that ITT wanted to drive a wedge between the Administration and Richard McLaren, then head of the Justice Department's Antitrust Division. ITT, in effect, was marshaling strength at the highest levels of Government to run over...