Word: itt
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...that finally went into effect in 1978 made it almost prohibitively expensive for independent American business men to work abroad and hiked the tab for companies that pick up their employees' expenses. Firms usually pay the extra tax, but the proceeds then become taxable income for the employees. ITT estimates that a $40,000-a-year executive can wind up paying taxes on $95,000 of gross income. The extra tax bill: about...
...long-distance telephone market. Now MCI is selling its phone service in such leading markets as New York City, Houston and San Diego. The company's brashly imitative advertising campaign tells customers to "reach out and touch someone. But do it for half of what Bell charges." Meanwhile, ITT, Western Union and even the parent corporation of the Southern Pacific railroad have started up similar operations...
More unsettling still for Bell, Congress currently has bills before it that will loosen up regulation throughout the entire industry and invite even more competition. In fact, companies such as General Telephone & Electronics and ITT are already challenging AT&T's dominance over phone equipment by selling telephones themselves, as are a host of smaller firms that have been cranking out toylike phone gadgets that look like beer cans, Mickey Mouse and Superman. The devices connect right up to the Bell lines in homes or offices. AT&T is fighting back through its 1,800 PhoneCenter retail outlets around...
...former executive vice president of ITT, Valente was lured to RCA with a three-year contract, calling for at least $600,000 a year in salary and bonuses, plus an extra $400,000 if Valente were asked to resign...
When the curtain closed on the women's Eastern Track Championships, and hundreds of the finest women athletes in the East packed up their spikes and loaded buses for home, only three meet records remained intact, and every ITT facility record had fallen...