 When ITT attempted to acquire The Hartford insurance company in 1970, the US Justice Department filed suit, and ITT agreed to divest assets equal to those of Hartford's, including Avis.ITT's sales grew from about $700 million in 1960 to about $8 billion in 1970, and its profit from $29 million to $550 million.However, when the higher interest rates started eating away at profits in the late 1960s, ITT's growth slowed considerably.