Word: itt
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Dates: during 1970-1979
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...received free food and liquor, a reduction in the rent of his apartment, and even cash from friends. First, CBS-TV reported that the Agnews received a special "celebrity" rate on the apartment they formerly occupied in Washington's Sheraton-Park Hotel, owned by a subsidiary of ITT. (It turned out that they paid between $850 and $900 a month on an apartment that normally rents for $1,900.) Then the New York Times reported that the Agnews regularly got free food from Joseph H. Rash, vice president of the Food Fair supermarket chain. The Wall Street Journal reported...
...presidential campaign. Washington's hostility increased after Allende's new government fully nationalized copper mines and other industrial properties owned by U.S. companies and declined to pay several of them compensation. Relations between the two countries grew worse when it was revealed that multinational ITT had offered the U.S. Government more than $1,000,000 to help prevent Allende's election, and had held discussions with the CIA on possible ways to keep him out of office...
Ironically, the panel formed to study the multinational question was approved largely because of Chile's explosive accusations that ITT, the $8.6 billion U.S. multinational, had tried to prevent Salvador Allende from assuming the nation's presidency in 1970. The hearings began on the day of Allende's overthrow...
...ITT declined the opportunity to testify, but a surprisingly large number of multinational officials were eager to contribute their thoughts−and not just their hostile ones. Irving S. Shapiro, vice chairman of Du Pont, suggested that the panel should consider sponsoring a U.N.-wide agreement on international investment. Under such a plan, he said, investment funds might be governed in much the same way that the independently organized General Agreement on Tariffs and Trade (GATT) lays out rules for the movement of goods between nations. Emilio G. Collado, executive vice president of Exxon Corp., favored the notion...
Frei was caught in one of the contradictions of imperialism. The North American plunderers--the copper companies, ITT--were exploiting Chile so intensively that the entire nation objected: the poor, because funds needed for development were flowing out of the country; the rich, because they wanted a bigger share of the action. (In fact, when Allende finally sent his nationalization bill to Congress in 1971, all parties, including the right-wing Nationals, voted...