Word: telegraphs
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With all their difficulties over party contributions and antitrust deals far from settled, the last thing International Telephone and Telegraph officials needed was a fresh controversy over income taxes. Last week they faced exactly that. In the final stretch of the Wisconsin primary campaign, George McGovern charged that ITT had "paid no federal taxes at all" for the past three years. As it turned out, McGovern could not back his accusation with any reliable evidence, and thus earned the company's rebuke that his charges were "erroneous and misleading." On the other hand, ITT's real tax position...
...Stans pitch is perfectly legal. But it underscores again the symbiotic relationship between big business and the incumbent Administration. That relationship is the real focus of the uproar about International Telephone and Telegraph Corp.'s promise to help finance this summer's Republican National Convention, and the subsequent out-of-court settlement of a major antitrust case on terms relatively favorable to ITT. That case reached some kind of high point last week in one of the strangest Senate hearings ever held. Testifying from her Denver hospital bed, propped up on pillows and hooked up to heart monitoring...
...about the letter; Democrats as well as 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...
...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 scarcely run to backroom politics. By concentrating...
...much experience in dealing with politicians, mostly foreign. Some of its best customers for telephone and telegraph gear are European and Latin American governments. Dealings with these government officials are often on a straight quid pro quo basis. For example, in bidding for a government contract abroad, the company might offer to build a plant in an underdeveloped part of the host country. Close ITT watchers do not find it the least unusual that the company-or, for that matter, many a large, powerful firm-when threatened with antitrust prosecution, would approach Administration leaders directly and do everything possible...