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BUSINESS
November 20, 2008 | bloomberg news
AT&T Inc. didn't conspire to fix the rate for long-distance surcharges paid by customers, a Kansas jury said Wednesday, rejecting a $400-million claim against the largest U.S. telephone company. The federal jury in Kansas City, Kan., also ordered AT&T to pay $16.9 million to California residential customers who accused the company of breach of contract in the same trial.
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BUSINESS
March 1, 1989 | From Reuters
US Sprint Communications Co., hoping to expand its role in the international long-distance market, is negotiating to buy a stake in the first private telecommunications cable linking the United States and Europe, industry sources said Tuesday. US Sprint hopes to acquire Private Transatlantic Telecommunications System Inc., a privately held company based in McLean, Va.
BUSINESS
March 16, 1989 | From Reuters
The Federal Communications Commission today approved American Telephone & Telegraph Co.'s plan to put a lid on its long-distance telephone charges but remove the ceiling on its profits. The plan, which takes effect July 1, will modify the regulations set when AT&T had a monopoly on the nation's long-distance services and further intensify competition in that $50-billion market. Under the plan, AT&T's long-distance rates can rise no more than the rate of inflation minus 3%.
BUSINESS
July 21, 1988
American Telephone & Telegraph Co. said Wednesday that its profit slipped 0.3% in the second quarter as revenue rose 4.3%. Pacific Telesis Group, the San Francisco-based regional Bell holding company, said its earnings rose 21.6% in the quarter. GTE Corp., one of the two parents of US Sprint Communications Co., reported a 34% increase in profit. AT&T said it earned $594 million, down from $596 million a year earlier. Revenue rose to $8.76 billion from $8.40 billion.
BUSINESS
December 11, 1987
James Johnson, who has been named to succeed Theodore Brophy as chairman and chief executive of GTE Corp., is a 38-year veteran of the telephone industry who may make his mark by strengthening GTE's non-phone businesses. Industry analysts say Johnson, 60, is unlikely to deviate greatly from the "back to basics" approach that Brophy has championed for the past several years.
NEWS
December 15, 1988 | JULIO MORAN, Times Staff Writer
A Culver City tax on long-distance telephone calls will be reduced less than expected, but residents and businesses will get a slight, unanticipated tax break on local calls, the City Council decided this week. A single 10% tax will be applied to local and out-of-state calls effective April 1, rather than a split rate of 7% for long-distance calls and 11% for local calls, as had been decided by the City Council in September.
BUSINESS
December 30, 1986 | From Reuters
American Telephone and Telegraph Co., the giant telecommunications concern, is facing the first challenge to its 20-year monopoly in providing toll-free long-distance service to commercial customers. The local Bell telephone companies, entering their fourth year of independence from AT&T, say they have already spent more than $500 million to develop jointly a complex computer database and network of telephone exchanges that will rival the revolutionary system AT&T launched in 1967.
BUSINESS
September 25, 1987 | STEVE COLL, The Washington Post
The proposed $4.5-billion federal telecommunications network that has been put up for bids by the government will apparently be divided between two competing groups of communications companies because of a political brouhaha over the contract, sources said this week. The sources said the contract would likely be split into two separate procurements and then opened for a new round of bids, probably before the end of the year.
BUSINESS
August 6, 1987 | STEVE COLL and JUDITH HAVEMANN, The Washington Post
A standoff between two influential government officials over a proposed $4.5-billion federal telecommunications network is threatening to unravel one of the largest contracts ever put out for bids by the U.S. government, according to government sources. The two officials, Rep. Jack Brooks (D-Tex.), chairman of the House government operations committee, and Terence C.
BUSINESS
August 31, 1988 | From the Washington Post
Instead of rising, as the package instructions promise, your Betty Crocker Supermoist Devil's Food cake has remained stubbornly at the bottom of the pan. The in-laws are arriving in an hour. You panic. What to do? Reach for the telephone, of course, and call 1-800-328-6787, the General Mills Consumer Service line, where a dozen specially trained home economists are waiting, cookbooks and computers at the ready, to neutralize crises like yours.
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