Word: itt
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Dates: during 1970-1979
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Quietly. Helms and Kissinger turned down ITT's ideas and its cash. Yet ITT did not give up. Nearly a year after Allende came to power, company officials were still plotting to discredit him. William Merriam, then head of ITT's Washington office, sent to Peter G. Peterson, then Assistant to the President for International Economic Affairs, an "18-point program." In a letter, Merriam suggested that "everything should be done, quietly, but effectively, to see that Allende doesn't get through the next six months." Among the recommendations: cut off U.S. aid and credit to Chile...
Jack Neal, ITT's international relations director in Washington and a 35-year veteran of the State Department, testified that ITT officials "had not only an obligation to ourselves, but to the Chilean people ... to prevent another Cuba. They're great democrats." He claimed that his program would have "disrupted the economy" and "strengthened the people." When Idaho Senator Frank Church asked Neal if he saw any difference between Cuba, which became Marxist through a revolution, and Chile, which became semi-Marxist through free elections, Neal replied that...
...ITT's plans totally backfired. Allende not only won but also expropriated ITT's interests in Chile. In the eyes of Chileans, that move seemed to have been eminently justified when ITT's desire to interfere in Chilean politics was revealed last spring by Columnist Jack Anderson. In fact, because of its clumsy attempts, ITT may now lose some or all of the compensation it would otherwise be entitled to from the federally financed Overseas Private Investment Corporation (OPIC). Reason: if there is evidence that ITT lost its property as a result of meddling in internal Chilean...
...conglomerate's troubles are not confined to the Senate's investigation of its Chilean involvement. In separate investigations, a House subcommittee and the FBI last week were looking into other ITT affairs...
West Virginia's Harley Staggers, chairman of a House commerce subcommittee, released more than 70 pages of working papers from the files of the Securities and Exchange Commission that shed more light on ITT's attempts to win a favorable decision in a Justice Department antitrust suit. The papers, comprising SEC notes and summaries of more than 34 boxes of ITT papers, indicated that ITT had pressed its case with unseemly vigor...