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The companies he cobbled together were a flammable mixture of patents, possibilities, and products still in development. The marketplace demanded products that could be sold, not dreams. New management, led by former OSS commando Frank Lindsay, got Itek past this troubled phase, but the firm soon got caught in the middle of a battle royal between the CIA, the NRO, and elements of the Air Force over which agency would control satellite reconnaissance.
In early , Lindsay stunned CIA managers by suddenly announcing that Itek was withdrawing from its Agency contract. No definitive evidence to support that allegation has surfaced, and the fact that the pullout damaged Itek irreparably suggests that McCone, et. Whatever the truth may be, Lewis relies too much on NRO and Itek information and does not include enough material from CIA sources to give a full account. Itek enjoyed a brief resurgence in But then it fell into a steady decline.
Ironically, soon after the signing of the first Strategic Arms Limitation Treaty in , the company had to fire many of the scientists and engineers whose work had made monitoring the agreement possible. Litton Industries bought the firm at a bargain price in the early s, ending its life as an independent company.
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Spy Capitalism: ITEK and the CIA
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We do not routinely respond to questions for which answers are found within this Web site. It also presents information about Laurance Rockefeller's venture capital operations and his role in financing Itek, based on the financier's private Itek papers. The book is both a case study of a company at the heart of the American intelligence-industrial complex during the Cold War and an examination of the impact of the CIA on the capitalist system it was created to defend.
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Search my Subject Specializations: Civil War American History: Users without a subscription are not able to see the full content. Lewis Abstract What happens when the world of venture capitalism collides with the world of espionage? More What happens when the world of venture capitalism collides with the world of espionage? Bibliographic Information Print publication date: