Word: itt
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EARLY Saturday morning, opponents of the Chilean military coup set off a bomb in International Telephone and Telegraph's New York City office. The "Weather Underground," an offspring of the old Weatherman group, claimed responsibility for the action. No one was hurt by the explosion, in which several ITT offices and facilities were damaged...
...ITT tried to create economic chaos and civil war in Chile three years ago, in order to defend its telephone equipment from expropriation by the new socialist government of Salvador Allende. After Allende's victory in 1970, ITT and its friends in Washington -- friends already predisposed toward large American corporations and entirely captivated by ITT's illegal gifts to President Nixon's re-election campaign -- supported those trying to overthrow Allende's Popular Unity government...
...that the Chilean army has overthrown Allende and seized power, all indications are that ITT, if it wants to, will return to Chile with new guarantees against expropriation...
...Hundreds have been going into land development or construction, or simply buying land and holding it for price appreciation. Chrysler Corp., for instance, has invested $89 million in diversified real estate ventures. General Electric has shifted 15% of its $3 billion pension fund into real estate. Other big players: ITT, Du Pont and U.S. Steel...
Palm Coast, Fla., is an immense undertaking of an International Telephone and Telegraph subsidiary, which is cutting up 92,000 acres midway between St. Augustine and Daytona Beach into lots that company executives think will house 650,000 people by the year 2000. ITT has put some thought into planning: residential areas will be separated by greenbelts, and all houses (only 180 built so far) will be hooked up to company-owned water and sewage plants. But ITT can harvest timber from a buyer's lot until his payments are completed, leaving him with the cost of removing stumps...