Word: itt
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...fire broke out at the Albert H. Gordon Track and Tennis Center (ITT) on Thanksgiving Day, damaging the exterior of the building and charring some stored maintenance equipment, according to the Harvard police...
...fire burned a field equipment storage center that cuts into the side of the ITT, which faces Bright Hockey Center. The fire destroyed the wooden section of a security fence which protects the storage center...
...inattentive or slothlike in responding to the needs of its far-flung divisions. Some 1,100 units of U.S. companies have been acquired by their managers since 1982, and it is a blue-chip list: the Montgomery Ward department-store chain, bought by its executives from Mobil; the former ITT subsidiary that makes Scott lawn products; the onetime Unisys unit that produces Nu-kote ribbons for typewriters and computer printers. "Management buyouts create powerful incentives for entrepreneurship, risk taking and long-term planning," says Martin Dubilier, chairman of a New York City investment firm that bankrolls many executives seeking control...
Take the case of Scott. The longtime message from ITT had been to "do O.K. and stay out of trouble," recalls Tadd Seitz, now president of O.M. Scott & Sons of Marysville, Ohio. "There was no great push for excellence." But after Seitz and his fellow managers bought the unit in 1986 for $133 million, they promptly came out with several new products that ITT executives had blocked. Among them: Winterizer, a compound that protects lawns during the winter. ITT management, Seitz says, had feared that Winterizer might sabotage sales of other Scott lawn-care products. But it has become...
...spokesperson for ITT said that the original terms of the Kohlberg, Kravis partnership prohibited hostile takeovers. James T. Gallagher, ITT vice president for public relations, said that Kohlberg, Kravis claims it told all limited partners it would perform hostile takeovers if the board of thetargeted company had already tried to buy out itsown shareholders...