Word: itt
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Dates: during 1980-1989
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...Liquidator. Irwin Jacobs, 43, has trained his takeover artillery on such corporate giants as ITT, Pabst Brewing, Kaiser Steel and Disney Productions. He was in an earlier phase of the Phillips battle but sold his 4.6 million shares for a sizable profit shortly before last week's voting...
Late last year Jacobs went after his biggest target yet: ITT, which had sales of $14 billion in 1984. He bought a reported 2% of the company, an investment estimated at $84 million, and began bringing pressure on ITT officials to break up the firm, arguing that the parts of the conglomerate were worth more than ITT as a whole. Said Jacobs at the time: "ITT's management has created such a monster of overhead in its operations that something's got to happen." Partly because of those attacks, ITT decided in January to sell off $1.7 billion worth...
...second point is easier to refute, simply by virtue of its absurdity. Harvard's sale of stock in corporations which do any part of their business in South Africa (and the bulk of the firms under discussion, including IBM, GM, Ford, and ITT, do a minuscule amount of business there) will be welcomed gladly by a myriad of investors around the world, who will snap up the stocks and never consider the moral heinousness of apartheid. And South Africa itself would like nothing better than to have all stock in companies operating within its borders owned by silent and uncaring...
...little moral value to and of itself because as Americans we will never successfully cleanse ourselves of the corporations which do business in South Africa. Of the top 50 companies in the United States, more than half do some business in South Africa. Companies like CM, Ford, IBM, ITT and Exxon, so intricately connected to our daily lives, have operations in that nation. We would need to boycott everything from automobiles to telephones to maintain that we are morally free of apartheid. Of course, this would be a ridiculous undertaking, but without this isolationism, advocates of divestiture could make...
...Track vs. Exeter, ITT...