February 22, 1994 |
Freedom, spontaneity, ubiquity, interconnection. Highly personal. Perfect. Advertising copy for a new fragrance? A brochure for a self-improvement workshop? No. It's PacTel Corp. chief Sam Ginn, describing the new name for his $12-billion wireless communications company: AirTouch Communications. Forgive Ginn for using language that would make a seasoned wine critic blush ruby red. PacTel just spent a lot of time and money to come up with its new moniker. And it's not alone.
December 15, 1993 |
December 4, 1993 |
The new Pactel Corp. made an impressive debut as a public company Friday as investors eager for a pure play in the fast-growing cellular phone business bid up the share price more than 10% to $25.50 in heavy trading. Late the day before, underwriters of the new issue--a spinoff of Pacific Telesis Group encompassing its cellular phone and paging operations--had priced the offering at $23 a share and placed 60 million shares, or about 12% of the company, with investors. On Friday, 25.
November 24, 1992
William Sobieski of Mission Viejo was sentenced Monday in federal court to seven months in jail for mail fraud. Sobieski, 48, pleaded guilty in June to extorting kickbacks from a Minnesota concern that sells telephone equipment for a PacTel Products unit called Great Technologies Inc. Sobieski was a vice president for national sales and marketing at Great Technologies.
August 13, 1992 |
Pacific Telesis, whose Pacific Bell and Nevada Bell phone companies serve 22 million customers in California and Nevada, has reached tentative contract settlements with its labor unions, the two sides announced Wednesday. The proposed settlement calls for a 12% wage increase over three years, a 13% hike in pension benefits and a wage bonus of 5% if the company meets its financial goals.