October 14, 1998 |
Bell Atlantic Corp. said it expects to take a third-quarter charge of $1.1 billion, or 70 cents a share, for an early-retirement plan and to write down the value of some investments. The New York-based Baby Bell said 5,200, or 38%, of 13,800 eligible unionized workers accepted the retirement offer it made in September and will leave over the next 14 months. Fewer than half of the workers will be replaced. The charge is expected to result in a loss for the quarter.
September 23, 1998 |
A unit of Irvine-based Comarco Inc. received a $2.9-million equipment order for Bell Atlantic Mobile's network performance measurement program. Bell Atlantic Mobile is a unit of Bell Atlantic Corp. The Comarco unit, Comarco Wireless, will supply its quality-analyzer product to Bell Atlantic's 13 U.S. markets, Comarco said. Comarco provides wireless communication products and services to cellular telephone companies.
September 5, 1998 |
Three regional Bell telephone companies lost an appeal to begin providing long-distance service to local phone customers. In an important victory for federal regulators, the U.S. 5th Circuit Court of Appeals reversed a lower-court ruling that opened a path into the long-distance business for SBC Communications, US West and Bell Atlantic. District Judge Joe Kendall's ruling in Wichita Falls, Texas, had declared key provisions of a 1996 telecommunications law unconstitutional.
August 12, 1998 |
Bell Atlantic Corp. and the Communications Workers of America reached agreement on a two-year contract that would increase job security and limit forced overtime, ending a two-day strike by 73,000 workers in 13 Eastern states and the District of Columbia. CWA President Morton Bahr touted the access the deal granted union workers to subsidiaries developing fast-growing technologies. Many of those units are staffed by nonunion contract workers.
August 11, 1998 |
Bell Atlantic customers were told to use phone books and credit cards instead of calling directory assistance or making collect calls Monday, the first business day of a strike. About 73,000 workers stayed off the job in 12 Eastern states and Washington. Major contract talks in New York and Washington continued during the second day of a strike over a new three-year contract.
August 10, 1998 |
A strike at the nation's No. 2 phone company, Bell Atlantic Corp., caused some minor delays in service Sunday as union and company negotiators met throughout the day to settle their dispute. About 73,000 Bell Atlantic operators, customer-service representatives and installers--more than half the company's work force--walked off the job at 12:01 a.m. Sunday after management and leaders of the Communications Workers of America failed to reach a contract settlement.
August 9, 1998 |
Tens of thousands of telephone workers went on strike early today in a walkout that could leave millions of callers from Maine to Virginia on hold. Negotiators representing 73,000 workers failed to reach an agreement before a midnight deadline, and employees prepared to picket at Bell Atlantic Corp. offices up and down the East Coast, union officials said.
July 31, 1998 |
Bell Atlantic Corp.'s plan to merge with GTE Corp. in a $52-billion stock swap has raised more than a few eyebrows because GTE's investors aren't getting a premium over their stock's market price. Yet such deals aren't unusual--although they are less numerous this year than in the recent past. There have been nearly 50 mergers announced so far this year in which the buyer offered a price below the target firm's market price the day before, according to research firm Securities Data Co.