Word: itt
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...ITT documents painted a far more detailed picture. One plan that company executives had supported was the bizarre "Alessandri formula," in which Jorge Alessandri, a former Chilean President, would receive full but covert U.S. political help and thereby-if all went well-win the vote in the Chilean Congress. Soon afterward he would agree to resign. A new popular election would be called, in which former President Eduardo Frei, a moderate liberal, would, it was hoped, defeat Allende. Under Chilean law, Frei could not succeed himself, and therefore did not compete in the original vote...
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...