Word: itt
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...Allende was elected by the Chilean Congress. Later he nationalized many U.S. companies, including ITT's Chilean telephone subsidiary...
...unprecedented move, the subcommittee heard and released the closed-session testimony of the CIA's chief of clandestine operations in the Western Hemisphere, William Broe. (It was the first time that a CIA agent has testified before a congressional committee.) Broe's testimony, added to what ITT executives told the subcommittee a week ago, unraveled the following chronology of collaboration...
JULY 16, 1970. Broe met with ITT Chairman Harold Geneen in Washington. The meeting had been proposed to Richard Helms, then the CIA chief, by John McCone, an ITT director and former head of the CIA. Broe said that Geneen told him that ITT was willing to put up a "substantial fund" to support a conservative candidate for President in the elections in Chile to be held Sept. 4. According to Broe, at that time the CIA declined the proposal because the U.S. was not supporting a candidate in the Chilean election...
SEPT. 9-10. Geneen told McCone at an ITT board meeting that he was willing to put up $1,000,000 for the U.S. Government to use in Chile. A few days later, McCone made offers to both Henry Kissinger and Helms of "up to $1,000,000 to support any Government plan for the purpose of bringing about a coalition of the opposition to Allende." McCone did not receive an answer...
SEPT. 29. Broe then made what amounted to a counterproposal to ITT Senior Vice President Edward Gerrity Jr. Broe said that he discussed with Gerrity "the feasibility of possible actions by U.S. companies designed to create or accelerate economic instability in Chile." Broe mentioned such measures as the cancellation of credit lines to Chile by American banks, a slowdown in delivery of machinery spare parts, action to force savings and loan institutions to close down, and the withdrawal of technical assistance. Broe gave Gerrity a list of American companies that might help in such a plan, "providing the economic course...