Telephone earnings depressed; competition hurts A.T.&T., Baby Bells

Article Abstract:

AT and T and the regional bell holding companies (RBHCs) suffer 4th qtr 1991 losses because of increased competition and the continuing recession. Earnings for AT and T dropped 21.5 percent for the 1991 4th qtr and 83 percent for the entire 1991 year. The largest RBHC, BellSouth, reported a 1991 drop of 9.8 percent in annual earnings while the second largest RBHC, Nynex, saw 1991 year earnings drop by 36.7 percent. Industry observers note that since the 1984 breakup of AT and T, RBHCs have had to become more competitive to maintain their large- and medium-sized business accounts, the segment of the market that provides the greatest profit margins.

Finance, Telecommunications industry, T, Profits, Regional Bell Operating Companies, American Telephone and Telegraph Co., Industry Analysis, Competition, Profit, Financial Report, Bell Regional Holding Companies, Fourth Quarter, Reduction

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Wider corruption found, New York Telephone says

Article Abstract:

Investigation into bribery, tax evasion and bid-rigging continues at the New York Telephone Co. Prosecutors in the case uncover evidence of widespread abuses at the telephone company's buildings department and up to 80 New York Telephone employees are being investigated for improprieties. The employees under investigation did not appear to operate as a group and investigators doubt there was a conspiracy. Government officials express concern over New York Telephone's ability to audit itself. The company states that it will correct its internal auditing procedures and promises to address ethics issues.

Investigations, Contracts, Tax evasion, Bribery, New York Telephone Co., Investigation

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