Word: ellinghaus
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Dates: during 1980-1989
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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...
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