Word: belle
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Dates: during 1990-1999
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...final bell hasn't sounded. And even with some alumni and faculty ready to throw in the towel, Harvard's money men may have a few strong jabs left...
...announced it would acquire McCaw Cellular Communications, the nation's largest cellular-telephone company, for $12.6 billion. The pending deal has prompted antitrust concerns as Ma Bell hopes to stake its place in the booming wireless communications business, bypassing the Baby Bell systems that now handle cellular calls...
...lead to lower phone rates and innovative products, many analysts predict that it will ring up even more industry turmoil as it reduces the boundaries separating long-distance and local telephone service. It will also bring AT&T into close competition with local telephone carriers, including the seven former Bell System companies, collectively known as the Baby Bells...
McCaw could turn out to be the Trojan horse that lets AT&T into the rigidly fortified local telephone business. Under the terms of the 1984 court-ordered breakup of the Bell System, AT&T is barred from re-entering that market. But with McCaw in hand, AT&T could skirt the restrictions, bypassing the local telephone network completely to provide long-distance cellular service directly to customers. If it succeeds, AT&T can sharply reduce the access fees it must pay the local carriers for the right to connect to their networks. Last year it paid $14 billion...
...Baby Bells are worried about losing prime customers. Pacific Bell, for instance, relies on 10% of its high-volume customers for 50% of its residential toll revenues. If AT&T helps this kind of customer bypass the network, the Baby Bells claim, they would be left with higher-cost, less profitable customers, which would invite rate increases. Says William Ferguson, chairman of New York-based local phone company NYNEX: "Consumers could end up paying for this deal...