Fake AT&T Leadership Is Nearing Deal to Acquire BellSouth for $65 Billion

Fake AT&T, BellSouth Near $65B Deal

qualityg has warned about these mergers for years. It still amazes me that the FCC and government do not just admit that judge Harold Greene (divestiture in 1984) was wrong about breaking up the "Real AT&T Bell System."

The corruption (MCI, WorldCom, QWEST, etc…), wasted dollars, political bickering between long lines and local, excessive corporate pay and golden parachutes, etc… I could go on and on but the real tragedy of this debacle was the 1 million employees that worked for the Bell System in the early 1980s.

Together, Fake AT&T (SBC) and BellSouth could have combined market capitalization of nearly $160 billion, dwarfing rival Verizon.

Together, the three companies employ more than 316,000 people, though that head count will fall as AT&T eliminates redundant operations.

qualityg said last December - click-->(SBC/ AT&T Merger) ...

Since 1984 the world and particularly the United States has suffered because of your moronic decision by Judge Harold Greene. Tell me where you can find a company today that has over a million employees with standardization and reliability that compared to AT&T in 1980. A million employees working and paying taxes with a good wage. No other company has ever come close to giving back to the communities in which they were located. In 1984 Michigan Bell employed close to 39,000 employees, today the number is around 13, 000.

Remember this headline) (BellSouth calls off AT&T deal) from a few years ago?

The Reason --> Among the details, say people familiar with the terms, was that Ackerman (BellSouth) was to remain CEO until his retirement, expected in 2006. Then Dorman would succeed him. The company would have been called AT&T. The company will still be called AT&T, but Double D (Dorman) is the odd man out with about $30 Million.

Again the Execs will win and the employees will lose. Don't believe me, ask ex-employees from PacBell, AT&T (the real AT&T), Ameritech, AT Home, NYNEX, etc...

This whole mess was not good for competition or the consumer. We would have a much more capable and reliable Security System and employment picture across the United States if Judge Greene would have listened to the people and not the politicians back in 1984.

Next Company to Go to Fake AT&T? Perhaps Lucent and then it's bye bye for Patricia Russo (CEO).

j-man sent me this article from Market Watch--> click on Link Breaking Up Is Hard To Do

for more updates go to http://www.blogger.com/post-edit.g?blogID=11874839&postID=115106688604964740