Word: sbc
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...aren't reaping many benefits. Instead, more employees are getting the ax because of the record number of billion-dollar mergers, according to a new report. In the past four months 13% of layoffs were merger related, and cost cutting hasn't even begun at giant proposed combinations like SBC and Ameritech. So it may be time to dust off that resume...
...SBC Communications Wait a minute -- didn't the feds break up Ma Bell already? In the latest, and biggest yet, deal to shake up the unsettled telecom industry, highly acquisitive SBC Communications announced it would buy Ameritech in a $62 billion stock swap. The combined entity would comprise three of the original seven Baby Bells with more than $40 billion in annual revenues, controlling some 57 million lines in 13 Western and Midwestern states. Only U.S. West now stands between SBC control of nearly three quarters of the U.S. Throw in telecom deregulation that should eventually allow local phone companies...
...merger passes regulatory muster, it could signal the start of a new round of combinations. Already AT&T and Bell Atlantic are both eyeing BellSouth as an attractive dance partner. And Ameritech could give SBC the muscle to realize CEO Edward Whitacre's long-held dream -- a takeover of the mothership via a merger with AT&T.
SBC plans to be one of those. Paging Joe Klein -- maybe Microsoft isn't your biggest headache after...
Most recently, Allen bigfooted Walter out of the way to explore a merger with SBC Communications, Inc., the largest of the regional Bells. The talks collapsed amid unofficial hints from FCC chairman Reed Hundt on the order of "Are you nuts...
...salesman style to win new allies. His extensive meetings with AT&T employees and corporate clients buttressed morale, as did his promotion of several insiders. But along the way, Walter lost sight of the only constituency that mattered: Allen. Last April after Walter, not Allen, got the call from SBC's chairman proposing merger talks, Allen escalated his criticism, telling AT&T directors that Walter didn't grasp the complexities of the telecom business. By the time Walter faced the board to defend himself, its decision had been made...