November 11, 2005 |
AT&T Corp. Chief Executive David Dorman confirmed expectations Thursday that he would not stay on long after AT&T's acquisition by SBC Communications Inc., opting for $10.3 million in severance pay and a lucrative consulting contract rather than a subordinate post at the combined company. Dorman, 51, also chairman of AT&T, will serve as president of the merged company and a member of its board "for a brief transition period," after which he will resign from both positions, SBC said. Edward E.
December 16, 2009 |
Fourteen days after taking the helm as chief executive of General Motors, Edward E. Whitacre Jr. said the giant automaker, which went through a major bankruptcy restructuring this year, plans to repay loans from the U.S. and Canadian governments by the end of June. In one of his first face-to-face meetings with reporters at the company's headquarters in Detroit, Whitacre talked about a variety of topics, including his visit to an auto plant last week in Flint, Mich., shuffling top managers and the company's strategy of improving its vehicles, sales and brand image.
March 8, 1989 |
First Union Corp. said Tuesday that it agreed to acquire Florida National Banks of Florida Inc. in a cash and stock deal valued at $749 million. Meanwhile, Chemical Banking Corp. said it would sell its 4.9% stake in Florida National and abandon earlier plans to acquire the Jacksonville, Fla., bank once interstate banking between New York and Florida is permitted. Under the latest deal, First Union would pay $27.
December 11, 2002 |
Pacific Bell, long a stalwart California name, now is just one more discarded logo for trivia buffs after its parent company scrapped the names of all its operating units Tuesday in favor of initials: SBC. SBC Communications Inc., the country's largest local phone company, made the change to present one brand to compete better against rivals moving into California and SBC's 12 other states.
November 19, 2005 |
SBC Communications Inc. completed its purchase of former parent AT&T Corp. on Friday after California regulators removed the final hurdle for the $16-billion deal. The California Public Utilities Commission also gave its consent to Verizon Communications Inc.'s planned purchase of MCI Inc. for about $7.5 billion, although that deal is still awaiting approval in other states.
March 10, 1986 |
The shake-up in top management at the U.S. Postal Service continued Friday with Postmaster General Albert V. Casey naming seven key executives and promoting Fletcher F. Acord to a new No. 3 job. In the new position, called associate postmaster general, Acord will take charge of marketing, communications, facilities, supplies, employee and labor relations, management information and research technology.
April 2, 1996 |
The week before Christmas, Pacific Telesis Group chief executive Philip J. Quigley flew to Washington to personally knock on the doors of the congressional representatives on whose votes his company's future depended.
April 2, 1996 |
As the head of Pacific Telesis Group, Philip J. Quigley was a vigorous supporter of the new federal telecommunications law that allowed telephone companies like his to compete more freely in an era of emerging technologies and eager new rivals. Ironically, the fruits of his success on the regulatory front will result in Quigley's losing his top wrung on the corporate ladder under SBC Communications Inc.'s $16.7-billion takeover proposal for San Francisco-based PacTel.
March 28, 2003 |
Cable mogul John Malone is backing News Corp.'s bid for satellite TV leader DirecTV rather than making an offer of his own, ending months of speculation about a potential rivalry between the two longtime media partners. Malone's Liberty Media Corp. and News Corp. jointly announced a financial arrangement Thursday in which Liberty will invest $500 million in News Corp. to help finance a bid for DirecTV parent Hughes Electronics Corp., which could cost at least $3 billion.
January 15, 1999 |
Yohen. In traditional Japanese pottery-making, it describes a serendipitous accident, a fluke in the firing process that results in a happy imperfection. Although it may be warped or discolored, such a pot is prized among collectors as something distinct and oddly beautiful. The trick is ascertaining which pots are "yohen"--and which are mistakes destined for the discard pile. As in most art, it's a question of perception.