Word: fcc
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Dates: during 1970-1979
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...past five years it has been getting the wrong numbers. Inflation has hoisted its costs and hurt net profits, which last year were $2.2 billion on revenues of $18.5 billion. The failure to anticipate the surge in demand for telephones caused snarls in service. But last week's FCC decision, approving the AT&T request for an increase on interstate calls, will raise pre-tax earnings by $145 million a year. This increase is in addition to a $250 million boost that the commission granted in January...
...most significant factor was that the FCC did not simply permit a rate increase, but raised the phone company's allowable return on invested capital. The new ruling lifts the company's return on long-distance calls from 7.7% to 8.5%. The company will also eventually be permitted, through increased productivity, to increase its rate of return to 9%. AT&T officials argue that the company needs an even higher return-up to 9.5% if they are to effectively meet ever-rising demand. President Robert Lilley notes that the cost of installing a telephone has risen...
Phone company officials estimate that the cost of making a long-distance call will jump by an average of 2%. The increase must still be approved by the Price Commission, but most FCC commissioners believe their action falls within the guidelines. The agency's 5-to-2 decision will also put the company in a strong position in seeking increases from state utility agencies, which have authority over local and intrastate rates. At present, AT&T has petitions for rate increases totalling almost $1 billion pending in 14 states, including Ohio, Massachusetts and New Jersey...
Early in the Cavett crusade, maverick FCC Commissioner Nicholas Johnson, a frequent guest on the show, telephoned Cavett from Washington to ask how he could help. Soon sponsors began to rally round. "The Cavett show is an outstanding buy that delivers a quality audience," wrote Hormel Marketing Director Thomas Purcell in a letter to ABC. "The general ratings really don't mean that much. What counts is the people the show is reaching...
...textbook case of neglect. Clancy spent so much time over the last decade in a challenge before the Federal Communications Commission trying to save the corporation's lucrative subsidiary, WHDH-TV, that he let the Herald Traveler slip into organizational disarray. Now, having lost the battle before the FCC, he has been forced to sell the Traveler to the Hearst Corporation, owner of the Boston Record American; a decade's inattention had left the paper wholly dependent on the television revenue of WHDH. Today, Boston has one less newspaper, one new television station (WCVB now broadcasts over channel 5, previously...