Word: itt
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Dates: during 1980-1989
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Business crime is at least as old as horse trading, of course, and has periodically flared up in new forms. Shady stock deals helped bring on the great Wall Street Crash of 1929, and Lockheed and ITT became enmeshed in bribery scandals during the 1970s. But rarely have so many big-name businessmen and corporations been accused of so much wrongdoing in so short a time. Several business trends, including financial deregulation, the growth of huge conglomerates and the rise of electronic funds transfers, seem to be multiplying the opportunities and temptations for businessmen to stray outside...
...companies with similar histories. Both Allied and Signal have been fueling growth through a string of acquisitions. Allied's sales have more than doubled since Hennessy became chief executive in 1979. He had previously worked for two celebrated conglomerate builders, Harry Gray at United Technologies and Harold Geneen at ITT. Geneen sent his former deputy a congratulatory telegram last week saying "Great work." During his tenure at Allied, Hennessy acquired nearly 35 companies. His most dramatic coup came after a long and nasty takeover battle: the 1982 purchase of Bendix, an aerospace and automotive-parts manufacturer...
...Hughes Aircraft to sell communications satellites to Japan in a joint venture with two Japanese companies. The deal could be worth $400 million. Nippon Telegraph & Telephone, which is now being converted from a government monopoly to a private company, signed a new contract to buy 10,000 telephones from ITT. Nonetheless, many American telecommunications executives considered these gestures to be mere tokens. Whenever Japan unveils a program to boost imports, many foreign businessmen get a feeling of seeing an I Love Lucy rerun for the tenth time. Nakasone's new plan is the sixth trade- liberalization package announced since...
...outrage and a bloody scandal," says Lane Kirkland, president of the AFL-CIO. "The object is for somebody to make a killing, pure and simple, and I see no virtue in it at all." Counters Minneapolis Investor Irwin Jacobs, who has made runs at targets as varied as ITT and Disney Productions: "We're really not a bunch of big, bad wolves. Mergers and acquisitions have created a great deal of value...
Women's track vs. Brown, Dartmouth, ITT, noon...