Wednesday, January 8, 2014

40 Years After CIA and ITT's 1973 Coup In Chile: A Look At `Democracy Now!''s ITT-Lannan Foundation Connection--Part 3

According to the "Palm Beach Daily News" (9/26/83), “Lannan was a senior member of the board of ITT;” and, according to the "New York Daily News" (10/18/95), "Lannan, who was running about $2 billion in assets in the 1960s, had assets ranging from the Oakland A's to a majority stake in International Telephone & Telegraph [ITT]" and "upon Lannan's death, his heirs squabbled over control of $100 million in assets that he left to a foundation." In its December 1959 issue, "Fortune" magazine characterized J.Patrick Lannan, Sr. as “an influential investor in enterprises such as International Telephone & Telegraph [ITT];” and according to Robert Schoenberg’s 1985 book "Geneen", during the 1970s “of the outside directors” of ITT “only Pat Lannan had more than two or three thousand shares” of ITT stock. A July 1, 2009 article on the website also observed that “the Lannan Foundation has always been and continues to be a family-run organization” and former ITT Director Lannan’s son, J. Patrick Lannan, Jr., “took over the reins of the Lannan Foundation in 1985.”

In "A People’s History of the United States", Howard Zinn indicated how ITT was apparently able to exercise a special influence in U.S. and foreign political life during the 36 years that Lannan Foundation founder J. Patrick Lannan, Sr. sat on the ITT board of directors:

“International Telephone and Telegraph [ITT] was an old hand at giving money on both sides. In 1960 it had made illegal contributions to Bobby Baker, who worked with Democratic Senators, including Lyndon Johnson. A senior vice-president of ITT was quoted by one of his assistants as saying the board of directors `have it set up to `butter’ both sides so we’ll be in good position whoever wins.’ And in 1970, an ITT director, John McCone, who also had been head of the CIA, told Henry Kissinger, Secretary of State, and Richard Helms, CIA director, that ITT was willing to give $1 million to help the U.S. government in its plans to overthrow the Allende government in Chile…The CIA—with the collusion of a secret Committee of Forty headed by Henry Kissinger—had worked to `destabilize’ the Chilean government headed by Salvador Allende, a Marxist who had been elected president…ITT…played a part in this operation.”
(end of part 3)

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