AT&T, Bell firms agree to settle suit about pensions

Article Abstract:

AT&T and the Bell Regional Holding Companies agree to settle a class-action suit filed by employees who complained that they were denied pension and other benefits illegally when they were trying to move from one Bell company to another following the breakup of AT&T. Involving hundreds of employees who have left or have remained with the companies, the settlement will cost about $20 million. In 1984, Congress passed a law allowing certain phone company employees to take new jobs with other Bell units without losing vacation time, health insurance and pension benefits. The companies later agreed among themselves to limit the portability of benefits, a decision that disadvantaged those who moved from one unit to another. Others had to refuse new jobs when they learned that their benefits were not portable. The settlement is expected to help those who lost benefits and those who let go of job offers.

Electronic computers, Telephone communications, exc. radio, Telecommunications services industry, Telecommunications industry, Telephone companies, Compensation and benefits, Employee benefits, Regional Bell Operating Companies, American Telephone and Telegraph Co., Employee Relations, Telephone Company, Lawsuits, Bell Regional Holding Companies

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Bell South set to buy Graphic Scanning Corp

Article Abstract:

BellSouth Corp agrees to buy Graphic Scanning Corp for $180 million, or $5.50 a share. Graphic Scanning, a cash-strapped cellular telephone company, announces that it is entering merger talks in mid-December 1990. Graphic Scanning and Bell South state that the purchase price is adjusted to reflect operations from Sep 30, 1990 until the closing date. Graphic Scanning stock prices, which were around $3.50 a share in early Dec 1990, traded as high as $6 a share on rumors of an acquisition. Stock prices closed at $4.75 a share on Dec 31, 1990. The company reports a profit of $1.5 million, or five cents a share, for the quarter ending Sep 30, 1990.

Communications Equipment, Mergers, acquisitions and divestments, Cellular telephones, Wireless telephones, Telecommunications equipment industry, BellSouth Corp., BLS, Business planning, Cellular Radio, Telecommunications Industry, Acquisition, Graphic Scanning Corp., GSCC

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