While Itt Lumbers, Its Stock Has Legs

When ITT Corp. Chief Executive Rand V. Araskog traveled to Washington on Apr. 26 to accept Chile's highest civilian honor, the rank of Comendador in the Order of General Bernardo O'Higgins, he seemed to be closing one of the more embarrassing chapters in corporate history. In the early 1970s, ITT was accused by officials in Santiago of tampering with Chilean elections to protect its assets from nationalization. But thanks to the $25 million ITT has since donated to improve Chile's economy, the company is back in that government's good graces.

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