AT&T slashed Allen's 1996 bonus 18%; President Walter received $5 million signing bonus, may get $7 million more

Article Abstract:

AT&T Chmn and CEO Robert E. Allen's 1996 bonus was cut by 18%, reflecting the company's mediocre performance, but President and heir apparent John R. Walter received a $5 million signing bonus, a $7 million incentive to stay at the company five years, and a stock option package that could be worth as much as $7 million more. AT&T came under fire in 1995 when CEO Allen received huge salary and bonus package despite the company's announcement of massive layoffs. Shareholders have proposed that executive pay be frozen when the company is attempting to cut costs, but the proposal is opposed by the directors. Allen received a 1996 salary of $1,186,333, a 2.9% increase from 1995, and a total compensation, including stock and bonuses, of over $5.9 million. Walter is expected to succeed Allen as CEO in 1998, and become chairman after Allen's retirement. Walter's 1997 salary will be $975,000, with a additional $1.17 million in potential bonuses.

Management, Compensation and benefits, Wages and salaries, Salary, Allen, Robert E., Company Business Management, Company Employee, Walter, John R.

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AT&T presence in Europe is questioned; talks with SBC signal U.S. phone market is priority

Article Abstract:

AT&T has decided to focus its attention on the US telecommunications market rather than on the Europe market. This was made clear when the company announced its plans to merge with SBC Communications, the local phone service provider in the Southwest and CA. The new company would be made up of not only AT&T and SBC, but also Pacific Telesis, which SBC recently acquired. Combining the management and work force of all three of these large companies is a massive project that will be time consuming and probably alienate the huge, unwieldy company from any potential European partners. The European market is already attaching itself with AT&T's competition. British Telecommunications is buying MCI and France and Germany's national carriers are buying 20% of Sprint.

Planning, Mergers, acquisitions and divestments, AT&T Inc., SBC, Company business planning, Company Acquisition/Merger

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Qualcomm employee is held in Russia, accused of spying with satellite gear

Article Abstract:

Qualcomm employee Richard Lawrence Bliss has been arrested by Russia's Federal Security Service and accused of spying. Bliss was detained on Nov 25, 1997 as he was installing a phone system in a town in southern Russia and charged with importing and using illegal sensitive satellite equipment. Bliss was supposedly attempting to gather topographical information from restricted areas near the Black Sea. Qualcomm, a US telecommunications company has been in contact with the Russian embassy in Washington and the State Department. The company claims that all of the equipment Bliss was using has been approved by the Russian government. Bliss was implementing a $5.8 million system with wireless local loop technology.

International aspects, Telecommunications systems, Russia, QUALCOMM Inc., QCOM, Espionage, Company public relations, Company executive, Computer executives, QCOMM

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