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46 Economy & Business The portents are good for the Tokyo summit. The Baby Bells are diversifying fast. Israeli bankers under fire.
In a sense, they were like infants, their prospects in life a mystery, their potential unknown. And so it was that when the Bell system was broken up two years ago, the seven regional phone companies[*] that resulted were soon dubbed the Baby Bells. Today the scattered siblings are not...
For the regional companies, growing up means diversifying beyond their traditional business of providing local telephone service. The Baby Bells now own and operate computer retail stores selling both hardware and software. The companies manage financial-service and consulting firms. They own real estate, ranging from commercial skyscrapers to industrial...
San Francisco-based Pacific Telesis has established a significant presence in several new markets. It owns a small computer retail chain and publishes city tourist guides. A year ago, the firm agreed to buy Communications Industries, which markets radio paging equipment and car phones, for $431 million. It is the...
Bold and promising as these new endeavors may be, few are profitable so far. The Baby Bells' nontelephone operations last year lost an estimated $500 million on revenues of $2.5 billion. The deepest deficit was suffered by Colorado-based U S West, which lost an estimated $200 million. Nynex had...