Word: itt
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What might trouble the Republican serenity? First, there is a credibility gap, an atmosphere of taint that reminds some observers of the last years of the Truman Administration. The cloud of ITT is in the air. So is the Republican refusal to disclose the names of those who poured $10 million, quite legally, into the G.O.P. war chest. The bugging raid on the Democratic National Committee headquarters fosters a nagging suspicion...
Think only of the last year. Neil Sheehan of The New York Times would be required to say who passed him the Pentagon Papers. The same for columnist Jack Anderson and his ITT scoop. Or more recently, The Times would be compelled to name before a grand jury every source--many of whom would be incriminated--for its series detailing graft in the New York City construction business totalling over $25 million annually. The City of New York either could not, or did not bother to, uncover the scandal. The Times did. But had those men who supplied The Times...
...clear when the five arrested men were identified. One was in the pay of Mitchell's committee; several had past links to the CIA. Beyond that, shadowy trails reached close enough to the White House, as one Republican admitted privately, to shake the G.O.P. with fears that another ITT scandal-or worse-was in the making...
...have put the investment credit right into current profits instead of spreading them out over many years. For example, U.S. Steel last year reported after-tax profits of $155 million; under McGovern's plan, its profits would have been $ 131 million-a drop of $24 million. By contrast, ITT's earnings would have been down only from $337 million to $328 million, and General Motors would have lost only $2 million of its $1.9 billion net. Yet even the companies that would not suffer much immediately would feel the impact over the long pull. Reason: the companies that...
Died. Charles ("Chick") Ireland, 51, president since last October of Columbia Broadcasting System, Inc.; of an apparent heart attack; in Chappaqua, N.Y. Amiable but harddriving, Ireland directed the Alleghany Corp.'s long and complicated proxy battles of the '50s. In 1968, he joined ITT, where he oversaw the operation of Avis, Sheraton hotels and several of the conglomerate's other subsidiaries. Ireland professed to know little about broadcasting, but CBS hired him last year to bring fresh talent to the network's top echelon in a period of sagging revenues...