Word: telegraphe
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...bombshell and London is rapturous. Wrote the Sunday Telegraph: "Peggy Guggenheim has achieved what many a museum has tried to do, and done it better." The collection is a chronicle of revolution. Beginning with a 1911 Picasso, through cubism, Dada, surrealism and on to the U.S. abstract expressionists, she has swooped up the dynamite that has given the words "modern art" their meaning (see color...
What do a global telephone network and a second-place U.S. auto-rental company have in common? Whatever it is, International Telephone & Telegraph Co. and Avis Rent a Car obviously felt that it was something worth cultivating. Last week, in one of the year's more unusual mergers, the two decided to become one. Avis, which had revenues in the last fiscal year of $44 million, agreed to sell itself to giant I.T. &T. (1963 sales: $1.4 billion) for $40 million worth of I.T. & T. stock...
...Haakon Ingolf) Romnes, 57, was elected president of American Telephone & Telegraph Co. to succeed retiring Eugene McNeely. Romnes, the Wisconsin-born son of an immigrant Norwegian baker, made his mark at A.T. & T. as an electrical engineer, won six patents in circuit design at Bell Laboratories before moving on to the operating side. As president of Western Electric, A.T. & T.'s manufacturing arm, from 1959 until early this year, he shaved the lead time on orders and deliveries for such critical items as cable. Romnes is a gentle and friendly executive whose great strength is persuasion and persistence...
Dispatch Case. The traitor is John W. Butenko, 39, American-born son of Russian immigrants, honors graduate in engineering, trusted employee in New Jersey of the International Telephone and Telegraph Corp., and holder of top security clearance as a key electronics technician dealing with counter-strike operations of the Strategic Air Command. Trailed for six months by FBI agents, Butenko was picked up in his automobile at a deserted railroad station one night in October 1963. With him were two Soviet diplomats (since expelled from the U.S. after invoking diplomatic immunity), and Igor Ivanov, a "chauffeur" for Amtorg, the Soviet...
American Telephone & Telegraph Co.has been trying to reach an 8% return on its invested capital for years,but it keeps getting cut off by a Washington operator: the Federal Communications Commission. Last week the FCC announced an annual $100 million reduction in long-distance telephone rates that will decrease A.T. & T.'s rate of return on interstate telephone operations from its present 7.9% to only 7% . A.T. & T.was obviously displeased. Chairman Frederick Kappel termed the reductions "out of step with the Government's efforts to encourage economic growth." But there is little doubt that subscribers will be happy...