Word: itt
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...seemed simple. The Justice Department decided that a rash of acquisitions by ITT, the big conglomerate, did violence to the antitrust laws. Justice decreed that the firm could keep the Hartford Fire Insurance Co. and some smaller firms if it would divest itself of Avis, the nation's No. 2 car-rental firm, within three years. Since then the effort to sell off Avis has become bogged down in byzantine legal maneuvering that, if nothing else, sharply underscores the difficulties of pursuing a vigorous antitrust policy...
Last week Avis' status was cloudier than ever. Originally the trouble began because ITT failed to move fast enough to sell its stock; by 1974 it still held about half of the total. At the request of the Justice Department, a court then named a trustee, a New York lawyer named Richard Joyce Smith, and charged him with the responsibility of selling off the rest of the Avis stock. Smith, now 73, began to sound as attached to the stock as his predecessors; for a time he refused to sell any shares, arguing that the price...
Fuqua executives and some Avis shareholders implied that Smith does not want to sell because of the fees he derives from the trusteeship. Over the past two years, they note, Smith has received fees of $100,000 from ITT. His law firm got $220,000 from ITT for various services involving Avis. In addition, Smith and one of his law partners have also been paid retainers of $6,000 a year as Avis directors, plus expenses for them and their wives to travel to meetings in Europe. Fuqua contends that Avis, the only major car-rental firm that...
After presenting the living conditions of the Chilean workers, Avenue documents American interference in Chilean affairs under the U.P. government. Footage from Chilean news broadcasts and American Senate hearings illustrates the extent to which the CIA and the International Telephone and Telegraph Company (ITT) fomented opposition to Allende's regime. By creating economic chaos, multinational companies and the CIA managed to bring small businessmen and other members of the Chilean middle class into the opposition...
...further asks, "Do you want to see 'our' Red Sox sold to George Steinbrenner, CBS, or ITT?" "We want to show the Red Sox that there are enough serious fans willing to invest for the New England people," the advertisement continues...