Troubled Giant

Looking for some conspirators

Just who is saying all those unkind things about ITT? The $14.2 billion conglomerate wants desperately to know what schemers are staging a campaign to sell the company, or break it up. No one would have listened to such talk during the telecommunications firm's glory days in the 1960s and 1970s. But now, beset by stagnating profits, ITT's management is trying to stamp out those ideas before they become self-fulfilling.

What particularly rattles Chairman Rand Araskog, 53, is that the plotters could be getting help from some of his own...

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