Word: itt
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...often climb to six figures, Dita Beard was virtually unknown; she earned only $30,000 and lived in a modest house in nearby Arlington, Va. Important lobbyists entertain in baronial houses, charter airplanes, give lavish cocktail parties. Dita Beard lived more like a suburban schoolteacher. Once a year, in ITT's name, she gave a small Christmas cocktail party for 30 or 40 people. Curiously, the Senate antitrust subcommittee, which an ITT lobbyist would certainly try to influence, had never heard...
...Republicans solicit convention contributions in much the same manner, and both stand to benefit from the new law. However, coming from the Justice Department, the letter is intriguing in light of the current flap over the convention contributions of International Telephone and Telegraph. Written six weeks before the ITT controversy erupted, the letter is the first definite link in San Diego between the convention and the Justice Department. It also confirms that Kalmbach and his law firm have clout in representing Nixon in the West. Indeed, Kalmbach's career is a case study in the good fortune that...
SEVERAL years ago, Harold Geneen complained about the image of the company that he heads: "You can stop 15 people in the street and not one will know what ITT is. That bothers me." Geneen hardly has that worry today. ITT is a household name. Everybody who reads the headlines knows that the International Telephone and Telegraph Corp. is the multibillion-dollar firm that quietly agreed to put up at least $100,000 to help finance this year's Republican National Convention, and shortly thereafter negotiated a controversial settlement in a classic antitrust case. But Geneen's interests...
...company are really indistinguishable. In an era of colorless hired managers, trim, short-haired Geneen has shaped a corporation that everyone in business identifies with him. When he became its president in 1959, ITT already was large, with sales of $765 million, but it mostly produced and ran telecommunications systems abroad. Under Geneen, ITT through a dizzying series of acquisitions has become a hotel operator (Sheraton), insurance seller (Hartford Fire), car renter (Avis), baker (Continental Baking), homebuilder (Levitt), as well as a maker of pulp and cellulose and a major shareholder in Comsat. Overseas it has been rolling like Patton...
...organ and tries to keep his fingers on every last key. A trained accountant, he thinks in figures-sales, profits, production, inventories. He requires subordinates round the world to send him reams of detailed reports, which he stuffs into several briefcases for perusal while being chauffeured to and from ITT's checkbook-modern Manhattan headquarters. His long working days are spent in meetings with ITT people, and his social engagements are related to business. Though he is perhaps the highest-paid executive in the U.S. (1970 salary: $766,755) he cares little for good food or wine, custom tailoring...