Cellular move underscores AT&T's transformation

Article Abstract:

AT and T's announcement that it plans to purchase a $3.73 billion stake in McCaw Cellular Communications Inc is a symbol of the how the company has transformed itself into a sleek competitor in an industry dominated by quickly changing technologies. Since 1990, AT and T Chmn Robert E. Allen has cut jobs and costs, spent $7.5 billion to acquire computer manufacturer NCR Corp and entered the credit card business. Allen foresees alliances among computer companies, cable TV broadcasters, TV manufacturers and others as the market for wireless communications grows. The many acquisitions and charges against earnings to pay for network overhauls and restructuring have kept AT and T's stock trading at 13.75 times earnings, compared to 17.5 times earnings for the Standard and Poor 500.

Electronic computers, Management, Strategic Planning, Company Profile, Allen, Robert E.

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AT&T, unions reach accord on retirement

Article Abstract:

AT&T has reached an agreement with its unions on a nonmanagement early retirement plan that will nearly double the number of eligible workers to 34,000. Under the plan AT&T will add three years of age and three years of service for each employee under its retirement formula. Generally speaking, an employee's age and length of service must total 75 before they are eligible for a full pension. The three additional years will also count toward the calculation of an employee's pension. The incentive program is part of AT&T's plan to reduce staffing levels and make the company more competitive. A similar plan for management cut payrolls by 12,535 in 1989, at a cost of $163 million, but with an estimated yearly savings of $450 million.

Usage, Retirement, Early retirement, Cost control, Employee Relations, Cost Reduction, Incentives

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AT&T picks Sea-Land Service's Mandl to be its new chief financial officer

Article Abstract:

AT&T selects Alex J. Mandl, formerly the chairman at Sea-Land Service Inc, as AT&T's new chief financial officer. Mandl succeeds Morris Tanenbaum, who retired in May 1991. Sea-Land has selected John Clancey to replace Mandl. Analysts are impressed with Alex Mandl, saying he an expert in matters of corporate consolidation and international partnership. Mandl will manage all of AT&T's financial operations, AT&T Capital Corp, contracting services and information management systems. Mandl will be a senior executive and is viewed as a possible candidate for the company's vacant presidency. Mandl declined to speculate on future promotions.

Appointments, resignations and dismissals, Chief financial officers, column, Executive, Mandl, Alex J., Tanenbaum, Morris, Clancey, John, Sea-Land Service Inc.

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