Word: breakups
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...breakup of American Telephone & Telegraph into eight pieces on Jan. 1 was more than history's largest divestiture. It was also the most expensive: AT&T calculates that it cost $1.23 billion. That includes the salaries of 10,000 people involved in the breakup, the cost of new letterheads, signs and trucks, and advertising to get the word out. Last week the bill showed up in the company's earnings report for the fourth quarter of 1983, the last for the Bell System as an entity...
...last year ordered the fees, ranging from $2 a month for individuals to $6 for businesses with only one phone line, as part of the restructuring of phone charges taking place in conjunction with the breakup of American Telephone & Telegraph. Until now, revenues from long-distance charges have been used to subsidize local service. The new fees were to help replace that subsidy. But the House last November passed a bill striking down most access charges, and the Senate was preparing to pass its version of the bill. Before the Senate got around to voting, the FCC announced its move...
...headquarters. At its Manhattan offices, the new, slimmed-down AT&T got quickly down to work and showed that things would be changing in American business. On Monday, the company signed an agreement under which Convergent Technologies, a computer manufacturer, will build new products for AT&T. Before the breakup, such a move would have been barred by the Government...
...politics. Production and income rose and unemployment fell, all more rapidly than almost any economists or business leaders had dared to hope at the end of the frightening 1981-82 recession. The inflation rate dropped lower than it had been since 1972. Federal Judge Harold Greene supervised the final breakup of the world's largest corporation...
...workers and revenues of $69 billion. The split of American Telephone and Telegraph into eight smaller companies, which takes effect on New Year's Day, will be felt by every person in the U.S. who uses a phone, or expects to benefit from new communications technologies that the breakup should inspire. The man who supervised this landmark case is an unassuming, soft-spoken German refugee, virtually unknown outside a small circle of jurists. Yet Federal Judge Harold H. Greene, 60, in an extraordinary display of judicial activism, has, almost singlehanded, determined the shape of the nation...