Word: itt
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Only Black. Despite the fact that he was confirmed as Attorney General only after a bitter fight over his role in the ITT scandal, Richard Kleindienst will stay on the job. A tough law-and-order man who has Barry Goldwater's backing, Kleindienst has not been in the post long enough to be rated accurately. Five key posts under him will be swept clean as part of the Nixon effort to have a forward-looking second term. Yale Law Professor Robert Bork, a critic of the Warren Court and a key man in developing Nixon's busing...
Foreign companies have been enticed into Spain by low taxes, cheap credit and guarantees that they could repatriate capital and profits; as a result, Chrysler, Fiat, ITT, Firestone, British Leyland and 3M Co. are among those that have invested heavily. In return, the foreign-owned companies have trained Spanish managers; for the first time the country has the beginnings of an entrepreneurial class. As a newcomer to industrialization, Spain also has benefited from up-to-date plant and equipment, giving it a competitive edge on countries like Britain that industrialized long...
...Supermoney" is ordinary, old-fashioned wealth that has been transformed-and sometimes wildly inflated-by America's voracious capital market. Should Frank and Jim of Frank & Jim's Bar become lucky enough to find themselves the target of an ITT takeover, for example, they might well walk away with ITT stock worth 25 times their annual earnings. In the period of reckless conglomerateering a few years ago, countless paper fortunes were traded away by the big boys on Frank & Jim ventures. Then credit got tight, a lot of good buyers turned out to be terrible managers...
...help clear the contentious air would be to place the Justice Department in less partisan hands. The practice of having such political operators as Robert Kennedy serving as John Kennedy's Attorney General and John Mitchell doing the same for Nixon makes the department suspect, as in the G.O.P.-ITT controversy. There are rumors, in fact, that Mitchell's man Richard Kleindienst may be eased out of his attorney generalship after a decent interval in the next Administration. One name mentioned so far as a successor, however, would hardly conciliate Democrats; it is that of John Ehrlichman, Nixon's aggressive...
...businessmen traveling to Moscow to sell. For many executives, a one-week business swing through Moscow has lately acquired the cachet that in the fifties attached to reconnaissance for branches in Western Europe. The list of firms and trade groups that have sent representatives in recent weeks includes ITT, Deere & Co., the Illinois Agricultural Association, and the Motor and Equipment Manufacturers Association. From a series of interviews with visiting U.S. executives, TIME Moscow Bureau Chief John Shaw has compiled a guide to doing business with the Soviets. His report...