Word: textron
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Dates: during 1970-1979
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...Shah's personal fortune, he ran a corrupt government from first to last. Foreign companies frequently had to pay "commissions" to government officials or members of the royal family to get any kind of contract in Iran. One example: between 1973 and 1975 the Bell Helicopter division of Textron Inc., which was selling choppers to the Iranian air force, paid a $3 million commission to a company that turned out to be secretly owned in part by a brother-in-law of the Shah. The Shah indirectly acknowledged the corruption by periodically announcing drives to root...
...went on to attend the U.S. Coast Guard Academy. In China shortly after World War II, he met his wife Ariadna, a White Russian living in Shanghai. After law school at the University of California and four years in a Wall Street law firm, Miller took a job at Textron Inc., the big Providence-based conglomerate, eventually becoming its chairman. During his 17 years running Textron, the company's annual sales grew from $383 million a year to $2.8 billion, and profits jumped from $14 million to $137 million. His spare-time interests range from golf to opera...
...arrival of Bill Miller in the elegant third-floor corner office of the Treasury Building will lead to some changes in style. He is the kind of "team player" that Carter seems to prize. From his days as chairman of the Textron Corp., Miller has had a reputation for arguing hard and voicing stinging criticism behind closed doors; out in public, however, he joins ranks and forcefully presents the majority position. But Miller can also be stubborn. Blumenthal discovered this last spring when he tried to lean hard on his old friend Bill to have the Fed raise interest rates...
...Southern Pacific's Benjamin Biaggini, H&R Block's Henry Bloch, Union Oil's Fred Hartley, Citicorp's Walter Wriston, Quaker Oats' Robert Stuart Jr., FMC Corp.'s Robert Malott, Borg-Warner's James F. Berg, Broyhill Furniture's Paul Broyhill, Textron's Joseph Collinson. Add to them presidents (Boeing Commercial Airplane's E.H. Boullioun, Occidental Petroleum's Joseph Baird) and former chief executives (AT&T's John deButts, Marriott's J. Willard Marriott, Texas Instruments' J. Erik Jonsson, General Foods' C.W. Cook, American Airlines...
Several of the largest American contractors, notably Textron's Bell Helicopter Division, Grumman, Lockheed and Boeing, are protected from big losses by the standard U.S. guarantees for arms sales. But other companies involved in civilian projects have no recourse, except to Iranian courts. For example, Brown & Root, the Texas-based construction company, whose $1.2 billion contract to build a naval base was canceled, has made little progress in persuading the Iranians to settle on termination damages. Fluor had completed 95% of a refinery near Isfahan before the revolution made further work too hazardous and is insisting upon back payments...