Word: telegraphs
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...breakup of American Telephone & Telegraph into eight pieces on Jan. 1 was more than history's largest divestiture. It was also the most expensive: AT&T calculates that it cost $1.23 billion. That includes the salaries of 10,000 people involved in the breakup, the cost of new letterheads, signs and trucks, and advertising to get the word out. Last week the bill showed up in the company's earnings report for the fourth quarter of 1983, the last for the Bell System as an entity...
...last year ordered the fees, ranging from $2 a month for individuals to $6 for businesses with only one phone line, as part of the restructuring of phone charges taking place in conjunction with the breakup of American Telephone & Telegraph. Until now, revenues from long-distance charges have been used to subsidize local service. The new fees were to help replace that subsidy. But the House last November passed a bill striking down most access charges, and the Senate was preparing to pass its version of the bill. Before the Senate got around to voting, the FCC announced its move...
...stroke of midnight, at his vacation home in Florida, American Telephone & Telegraph Chairman Charles Brown and his wife Ann Lee raised glasses. Said Brown: 'To the men and women of the Bell System." A thousand miles away, at a party near New York City, a longtime Bell manager lamented, "The world's best phone system is being broken up. What's there to be cheerful about...
...corporate divestiture in history, dwarfing the court-mandated division of the old Standard Oil empire in 1911. And much more is at stake than the fortunes and future of a company that last year had a million workers and revenues of $69 billion. The split of American Telephone and Telegraph into eight smaller companies, which takes effect on New Year's Day, will be felt by every person in the U.S. who uses a phone, or expects to benefit from new communications technologies that the breakup should inspire. The man who supervised this landmark case is an unassuming, soft...
...antitrust division, Baxter had dropped the Government's 13-year-old suit against IBM and generally made life easier for big companies with an urge to merge. Ironically, it was under Baxter, reluctant trustbuster at best, that the biggest breakup of all was achieved: that of American Telephone & Telegraph...