Word: itt
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Dates: during 1960-1969
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...during Geneen's three-year stay-but Geneen was by now casting about for a larger policymaking role. At the same time, several corporations were anxious for a man who would make policy, and Geneen was sought out by an executive recruiting service for the top job at ITT. In May 1959 he walked into Adams' office, abruptly announced: "I'm resigning." The day the news came out, Raytheon was the most actively traded stock on the New York Stock Exchange, dropping 6½ points. ITT rose only half a point, but it was the third most...
...based holding company for several Caribbean telephone companies he had recently acquired. Behn's choice of a corporate name was an unabashed effort to trade on the reputation of the giant American Telephone & Telegraph Co. Behn was successful in creating this confusion; even today, many people think of ITT as the international division of A.T. & T. Behn received a more tangible assist from A.T. & T. in 1925 when that company sold him its foreign manufacturing subsidiary, International Western Electric, which produced telephone equipment in eleven countries...
...ITT flourished over the next few years, its worldwide assets mushrooming from Behn's original investment of $3,400,000 to $588 million by 1930. Over the years, the company provided South America with an early radio telephone link with Europe and North America, brought nationwide telephone dialing systems to Belgium and Switzerland, built Europe's longest coaxial-cable network. The company's foreign-based operations, however, have always left it vulnerable to worldwide upheavals. During World War II, for example, Behn succeeded in saving his corporation from disaster only by hurriedly negotiating the sale of several...
Under Behn, the communications company's own internal communications were woefully inadequate, with the result that ITT's various European units often competed with one another...
...business world was moving at a breakneck clip. In 1956, a year before he died at 75, Behn finally relinquished his tight grip on the company. About the only achievement of his immediate successors (and Geneen's immediate predecessors) was to drop the ampersand-making it ITT instead...