May 3, 2000 |
AT&T Corp. Chief Executive C. Michael Armstrong got some good news on a day when the company warned of lower profit and its shares plummeted: He's being honored for his leadership. Commerce Secretary Bill Daley will present Armstrong with the nonprofit Private Sector Council's award today for his work to create good relations between business and government. Rep. Bill Archer (R-Texas) also will receive a leadership award at a dinner at the Park Hyatt Hotel in Washington.
October 16, 1997 |
AT&T Corp.'s board of directors met Wednesday to ponder the selection of a new chief executive--a pivotal decision that could determine the future direction of the beleaguered phone giant--but broke up without an announcement. Speculation on a successor to Robert E. Allen has focused largely on two contenders--insider John D. Zeglis, AT&T vice chairman, and outsider C. Michael Armstrong, chief executive of Hughes Electronics Corp., a Los Angeles-based unit of General Motors Corp.
July 10, 2001 |
When AT&T Corp. named C. Michael Armstrong chief executive in late 1997, board members hailed the selection as "a perfect match" and a choice that would ensure the phone company's "continuing leadership in this dynamic industry well into the next century." Today, a mere 3 1/2 years later, Armstrong instead seems destined to preside over the potential demise of the once-proud telecommunications giant. The unsolicited bid from cable rival Comcast Corp.
January 27, 1998 |
In his first public meeting with Wall Street since taking control of AT&T, Chairman and Chief Executive C. Michael Armstrong laid out a bold plan for the troubled telecommunications giant that involves expanding the company's core businesses while laying off up to 18,000 employees to cut costs.
November 22, 1992 |
C. Michael Armstrong, the recently appointed chairman of Hughes Aircraft, is a newcomer to the defense business. But he reckons he doesn't need to know much about missiles and military procedures to handle the job today: "I know how to lay off and how to abandon facilities. I have no problem downsizing," says the former IBM executive.
October 18, 1997 |
AT & T Corp. is expected to announce Monday that Los Angeles aerospace executive C. Michael Armstrong of Hughes Electronics Corp. will become its chief executive, officials close to the two companies said Friday. Armstrong, who is widely credited with shifting Hughes from a military to a commercial footing, will face another difficult task at AT & T: restoring the industry leadership that the long-distance giant has allowed to slip away.
September 10, 2000 |
A lot of Wall Street sentiment favors a new breakup of AT&T, which is a terrible idea at the moment because the big telecommunications company's stock is near its low. By one estimate, AT&T's many assets could bring a total of only $43 a share in public spinoffs, an uninteresting premium over today's stock price. But it's an idea with possibilities for AT&T's future.
March 30, 1993 |
In one of the most jarring business defections from Southern California, Hughes Aircraft will close its Canoga Park missile facility and move 1,900 engineering-related jobs to Tucson by 1994, the aerospace firm said Monday. The decision ranks among the largest transfers of aerospace jobs out of the state since the trend began in the mid-1980s. More ominously, it undercuts one of the state's last remaining strengths: retaining its wealth of science and engineering talent.