Word: belled
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Dates: during 1990-1999
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...suitors were Raymond Smith and Ivan Seidenberg, CEOs of telephone gargantuans Bell Atlantic and NYNEX. Their moment came in February as they watched Bill Clinton sign the Telecommunications Act of 1996, which paved the way for last week's $22 billion merger of Bell Atlantic and NYNEX. The new company, to be called Bell Atlantic, will have revenues of nearly $27 billion, second only to those of AT&T in the business, and will offer a wealth of data services to about 36 million East Coast customers--some 22% of all U.S. subscribers...
...deal, which comes just weeks after the $17 billion-merger announcement of Pacific Telesis and SBC Communications (ne Southwestern Bell), confirms that the Baby Bells have hit their Terrible Teens. Now, 12 years after the Federal Government broke up Ma Bell, deregulation and the digital era have transformed the info-delivery business. Cable companies will offer phone service, the Bells will pump Stallone flicks down your phone lines and satellite moguls will do battle from...
...simpler place for consumers," argues NYNEX's Seidenberg, "with more choices, more services and more products united under a single roof and unified brand." Seidenberg says phone bills should deflate as the companies merge their billing and cut their labor costs; thousands of jobs will be downsized in the Bell Atlantic/NYNEX upsizing...
...labor and industry groups fighting the merger. "The industry is moving in the exact opposite direction of competition," fumes Bradley Stillman of the Consumer Federation of America. He may not be factoring in the World Wide Web, the information network that links computers and perhaps eventually phones and televisions. Bell Atlantic, says Smith, will offer Internet access and Web-based software even as it fights for long-distance, cellular and wireless turf. "This is not going to be a fight over plain old telephones," he vows. "We're going to battle for the Web crowd...
...begun to take some measures to clean up its act. A plantwide sensitivity-training program was belatedly established last year. And while managerial jobs have not been affected, the company claims it has fired 10 workers--four this year--for incidents of sexual abuse. Perhaps more important, the alarm bell has finally sounded at the Tokyo headquarters of Mitsubishi Motors Corp. Chairman Hirokazu Nakamura admitted that "there were such cases" at the Normal plant but insisted that they were dealt with properly. Nakamura also expressed concern that Americans would draw the wrong conclusions about the cars that continue to roll...