Word: harold
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...1960s and 1970s, ITT was the most voracious of a new breed of corporate giants that came to be known as conglomerates. Under the leadership of Harold Geneen, Wall Street's original Pac-Man, ITT gobbled up more than 275 companies; at one time the corporation produced everything from hydroelectric turbines to Twinkies. At its 1980 peak, ITT had annual revenues of more than $18 billion and was the 13th largest U.S. corporation. But as the company became more and more bloated, its debt surged, while profits and the value of its stock sagged...
...president in 1959 and chairman in 1964. He took what was basically a telecommunications company and transformed it into a vast empire that Author Anthony Sampson dubbed the Sovereign State of ITT. Says Felix Rohatyn, who as an investment banker with Lazard Freres helped put ITT together: "Under Harold Geneen, ITT was a company that essentially knew no limits. He thought anything was manageable." The result was a corporation that in 1979 had 370,000 employees in more than 100 countries. Among its multitude of ventures, ITT is currently manufacturing radar in Los Angeles, television sets in West Germany, shock...
...move the university into the front rank, the commission, whose co- chairmen are Ralph Davidson, chairman of the board of Time Inc., and Harold Enarson, president emeritus of Ohio State University, makes 29 recommendations. The key one is "to restructure SUNY as a public benefit corporation." By this concept SUNY would become a semi-independent state body, with funds allocated in block grants, under control of the trustees. New construction would be paid for by additional state revenues. Thus SUNY's administrators would presumably have their hands free and enough money to run the store...
...fibula as a spare part. Important to four-legged animals, the bone is not essential to man, though the lower 30% helps to anchor the anklebone. As a result, surgeons have long used pieces of the fibula to patch damaged bones. "It is the outstanding transplant bone," says Dr. Harold Dick, chief of orthopedic surgery at New York City's Columbia- Presbyterian Medical Center. But traditionally, a simple bone graft taken from the fibula or from any of several bones in cadavers can be used to repair only a small area. In cases like Labollita's, where...
Under Empire Builder Harold Geneen, ITT devoured 275 companies and went from annual sales of $765 million in 1959 to $17 billion in 1979. But since Geneen's departure, the company's performance has slowed from go-go to nogo. Araskog has tried to revive ITT by shedding more than 60 subsidiaries, worth about $1.5 billion, but the company remains dangerously short of cash...