hartford insurance

ITT Corporation, originally International Telephone and Telegraph, was a large conglomerate that owned a variety of businesses during the 1960s under Harold Geneen. Welcome to FNB Hartford Insurance Services, Inc. In the 1970s ITT was forced to sell off the majority of its holdings and became a shell of its 1960s glory.

History

The company began as an operator of telephone monopolies outside of the United States, and purchased a number of European telephony patents.

Growth

In the 1930s, ITT purchased the German electronic companies Standard Elektrizitaetsgesellschaft and Mix & Genest, both international active companies.

During the 1950s, ITT purchased Philo Farnsworth's television company to break into the market. At that time Farnsworth was also developing the Fusor. In 1951, ITT bought a majority interest in the Kellogg Switchboard & Supply company (founded in 1897) and bought the remaining shares the next year. free-insurance-quotes-onlinenet. ITT changed the name to ITT Kellogg. After merging Federal Telephone and Radio Corporation into ITT Kellogg and combining manufacturing operations the name was changed again to ITT Telecommunications.

In 1959 Harold Geneen was elected as CEO. Using leveraged buyouts, he turned the minor building of the 1950s into a major force during the 1960s. In 1963, ITT attempted to purchase the television network ABC for $700 million. The deal was halted by federal antitrust regulators who feared ITT was growing too large. Welcome to FNB Hartford Insurance Services, Inc.