Word: itt
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Dates: during 1960-1969
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...Appetites. One reason for the surge in switches is that corporations are growing bigger and faster than ever before. International Telephone & Telegraph has been expanding so rapidly that it has not had time to develop enough of its own executives. Under Chairman Harold Geneen, himself hired away from Raytheon, ITT has taken on some 500 men from other firms in the past eight years. Besides creating voracious appetites for instant manpower, corporate bigness tends to dilute employee loyalty, with the result that executives are more willing to listen to new job offers. What makes them even more susceptible...
...disarmingly simple terms. "If you have all your eggs in one basket, you're stuck with those eggs," says Bluhdorn. "But if you've also got apples and bananas, that's something else." Following that formula, Bluhdorn, James Ling of Ling-Temco-Vought, Harold Geneen of ITT and several others have traced the tracks of such conglomerate pioneers as Litton and Textron across industry lines into movies and machinery, aircraft and auto parts, cigars, cybernetics and clothing. Along the way, the conglomerates have stirred up what the Federal Trade Commission calls the "sharpest merger activity in modern...
...television, desperately needs money to convert completely to color and upgrade its programming; of the three major TV systems it was the only one that lost money last year on network operations. ABC's president, Leonard H. Goldenson, thought he had the wherewithal last year, when ITT agreed to buy the network. But the Justice Department entered objections, stalled the deal to the point that ITT Chairman Harold S. Geneen finally backed out because the value of ITT stock had gone up so much in the meantime that his offer was too good. Goldenson has been looking...
...string of nine motor inns and hotels through five New England states, grown from a mom-and-sons outfit to a company employing nearly 1,000 people. Next year they expect to reach $12 million in annual sales and expand their chain to some 2,000 rooms, thus surpassing ITT-owned Sheraton Hotel Corp. as New England's biggest innkeeper...
...main reason that the directors of profitable Continental are willing to join ITT is to take advantage of advanced ITT research in such areas as food irradiation, electronic cooking and computerized process controls. ITT, operating all around the world, can also provide Continental with expertise for moving into international markets...