Word: ellinghaus
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...filled up with paperwork, armies of attorneys found steady employment, and cumulative corporate legal fees climbed into the hundreds of millions of dollars. The AT&T case alone cost the company an estimated $360 million and the Government $15 million. After the settlement was announced, AT&T President William Ellinghaus said, with a sigh of relief, "One of the most important things is that the suit itself is now settled. It has been hanging over our heads and those of our shareholders, creating uncertainty that was going to stay on for years. Eliminating it will help a great deal...
...firm, though, will still retain its more profitable long-distance service, its manufacturing arm, Western Electric, and the Bell Telephone Labs. Said Ellinghaus of the terms: "This was not our idea. We fought hard to keep the system intact. But the public has made it very clear that it wants more choice and more competition in the business...
Last week's decision will change many familiar ways of doing business with the phone company for Americans. Said Ellinghaus: "If you need a new telephone in your home, you could ask your local phone company to install the service. Then you could go to the phone store, or another merchandiser, and order the equipment. You will be buying your equipment rather than leasing...
...first the board members were shocked into silence. Then one of them, William Ellinghaus, president of New York Telephone Co., almost shouting, demanded of Beame: "When are we going to get specifics? Where are the details? What about the next two years?" Beame quietly asked whether the telephone company can plan ahead for three years. Snapped Ellinghaus: "We can do it for six." After the meeting. Beame told his agency heads to produce firm proposals for cuts by Oct. 22. He hopes to trim police and fire department budgets by an additional 3% and other departments...
...loss, of mortgages that the city holds on middle-income housing projects. But none of these measures seemed a solution for more than a fairly brief interim. And after September, another $711 million comes due in October. When asked what the situation looked like, MAC Chairman William Ellinghaus, former president of the New York Telephone Co. said with grim understatement, "It looks mighty tough...
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