Word: fcc
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Dates: during 1960-1969
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...FCC's target, the American Telephone & Telegraph Co., is not merely the world's largest corporation but traditionally the bluest of blue-chip investments. The Bell System has the most stockholders (2.8 million), the most shares of stock outstanding (530 million), and the highest total stock value ($31 billion) of any firm listed on any exchange. So many of those shares are owned by widows and elderly couples that the FCC attack on "Ma Bell" has stirred up the same sort of popular resentment as an assault on motherhood itself. "I have stacks and stacks of letters from...
Slumping Shares. Since the FCC announced Oct. 27 that it would investigate not only A.T. &T.'s interstate and foreign rates, costs and earnings but the entire basis on which they are set, A.T. &T. stock has slumped to a two-year low in a market that overall has soared to alltime highs. A.T. &T. shares were-already below their peak of 75 (after a 2-for-l stock split in 1964) when the commission sprang its surprise. Between Oct. 28 and Feb. 2, they dropped from 661 to 581, inflicting $4.36 billion in paper losses...
...FCC suspects that Bell may be charging too much for some services, too little for others. With its usual sympathy for Bell's smaller competitors, the Commission has been aroused by a complaint from Western Union that Bell is undercharging for services in which the two companies clash headon. A.T. &T. earns only 1.4% on the private-line telegraph service and 4.7% on the private-line telephone service that it sells to business in competition with Western Union, but gets a return of 10% on interstate telephone services which it monopolizes. The FCC will also investigate whether...
Sensing that any Government probe would call for lower rates and profits, many of A.T. & T.'s 2,674,141 investors sold stock, pushing A.T. & T. shares into a paper loss of $792 million before they recovered mildly at week's end. Actually, the FCC may well order A.T. & T. to raise some rates to take the pressure off competitors. Whatever comes of the investigation, which will last about two years and tie up considerable company talent, A.T. & T. does not stand to suffer much. Twice in the past two years it has reduced longdistance rates under FCC...
...able to detect it, but listeners' eardrums are evidently more sensitive. For years, radio and TV owners have been blitzing the Federal Communications Commission with complaints about the loudness of commercials in comparison to the sound level of programs. Last week, after a tedious two-year study, the FCC agreed with the complaints. They "obviously cannot be dismissed on the ground that 'commercials aren't really loud, they just sound loud,'" declared the commission. The presentation of commercials "in a loud, rapid and strident manner" is "contrary to the public interest." In its soft-spoken...