Word: mccaw
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Other companies are zeroing in on the rich business market. Nextel is wooing corporate customers by packaging radio, paging and telephone services into discount-priced bundles. Controlled by Craig McCaw, who sold his cellular business to AT&T in 1994 for $11.5 billion, Nextel aims to establish itself in regions covering 85% of the U.S. population...
...from the same number. AT&T will test the first phase in Chicago this year. "Any technology that gives customers a choice is good for us," says Daniel Hesse, who became president of AT&T Wireless two weeks ago after Steven Hooper quit to join his old boss, Craig McCaw, at Nextel. The job hopping is one more sign of growing pains in an industry that has bedeviled its customers with too many confusing choices--even as it has begun to offer real competition for the first time...
...core business: long-distance phone service, the recently acquired McCaw Cellular phone subsidiary, and credit cards. Name: still AT&T. Revenues: $49 billion a year, based on 1994 figures. Profits: more than three-quarters of the $4.7 billion AT&T earned last year. Chief executive: Allen. (He has named Alex Mandl, his heir apparent, to oversee the transition to the slimmed-down AT&T.) Employees...
None of which proves that vertical integration is always a mistake, or that corporate giantism is naturally inefficient. Indeed, in a similar move to the NCR acquisition, AT&T paid $11.5 billion for McCaw in 1993 and still hopes that the purchase will pay the corporation's way into the cellular-phone market. And with around $50 billion in revenues, AT&T will still be a titan after the breakup, and so will the two companies to be born from...
Gates has invested in a variety of speculative alliances: with Hollywood's DreamWorks troika (Spielberg, Katzenberg, Geffen) to make interactive entertainment products; with cable giant Tele-Communications Inc., to build interactive TV systems; with cellular-telephone pioneer Craig McCaw's Teledesic Corp., to build a network of low-flying telecommunications satellites...