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AT&T Shuffles Executives After Failed T-Mobile Bid
Executive in Charge of Mergers and Acquisitions Retires
After their bid to acquire T-Mobile for $38 billion was surprisingly crushed by regulators for being anti-competitive, AT&T announced this week they're now shuffling executive positions. John Stankey, who the company says has led nearly every major AT&T business unit during his 27-year career, will be named to a newly created position of "Group President & Chief Strategy Officer." Not mentioned in the press release is the fact that Forrest Miller, AT&T's head of corporate strategy and mergers and acquisitions, will be retiring. There was plenty of blame to go around for the AT&T deal collapse. AT&T's own law firm posted data that dismantled most of their claims, and the company's longstanding practice of using non-telecom groups to spam the FCC in exchange for cash donations rubbed many the wrong way this time.
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Robert
Premium Member
join:2001-08-25
Miami, FL

Robert

Premium Member

And the CEO..?

He gets to keep his job? Shareholders should demand his head on a plate!

aztecnology
O Rly?
Premium Member
join:2003-02-12
Murrieta, CA

aztecnology

Premium Member

Re: And the CEO..?

He's also the chairman, gets a little more wiggle room...

Robert
Premium Member
join:2001-08-25
Miami, FL

Robert

Premium Member

Re: And the CEO..?

said by aztecnology:

He's also the chairman, gets a little more wiggle room...

Oh and apparently he's also the President. He's safe then. Shame.

kamm
join:2001-02-14
Brooklyn, NY

kamm

Member

Re: And the CEO..?

said by Robert:

said by aztecnology:

He's also the chairman, gets a little more wiggle room...

Oh and apparently he's also the President. He's safe then. Shame.

Ahh and he is also this ridiculous pigheaded scumbag who cannot even tolerate if normal human species dare to email him: »www.engadget.com/2010/06 ··· a-cease/

Seriously, just look at the picture - you can immediately tell he's a true scumbag, a real piece of shit, err I mean work...
sonicmerlin
join:2009-05-24
Cleveland, OH

sonicmerlin

Member

Re: And the CEO..?

said by kamm:

said by Robert:

said by aztecnology:

He's also the chairman, gets a little more wiggle room...

Oh and apparently he's also the President. He's safe then. Shame.

Ahh and he is also this ridiculous pigheaded scumbag who cannot even tolerate if normal human species dare to email him: »www.engadget.com/2010/06 ··· a-cease/

Seriously, just look at the picture - you can immediately tell he's a true scumbag, a real piece of shit, err I mean work...

Wow, that is as epically sociopathic as a person can possibly look on camera. He could easily play the supervillain in a superhero movie.
openbox9
Premium Member
join:2004-01-26
71144

openbox9 to Robert

Premium Member

to Robert
Why? T is still doing ok. The company's value hasn't taken a hit and in fact the PPS was up 7.8% from the original acquisition announcement to cancellation. The PPS is up another 3.6% from the deal cancellation to yesterday's close. VZ is only up 8.7% during the same time period.

Robert
Premium Member
join:2001-08-25
Miami, FL

Robert

Premium Member

Re: And the CEO..?

said by openbox9:

Why? T is still doing ok. The company's value hasn't taken a hit and in fact the PPS was up 7.8% from the original acquisition announcement to cancellation. The PPS is up another 3.6% from the deal cancellation to yesterday's close. VZ is only up 8.7% during the same time period.

It's going to be harder, moving forward, for AT&T to acquire (or merge) with other companies after this fiasco.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

I thought the argument against this acquisition was that AT&T didn't need to merge with anyone. Maybe T will learn its lesson and instead focus on maintaining infrastructure/services and returning capital to shareholders.

Robert
Premium Member
join:2001-08-25
Miami, FL

Robert

Premium Member

Re: And the CEO..?

said by openbox9:

I thought the argument against this acquisition was that AT&T didn't need to merge with anyone. Maybe T will learn its lesson and instead focus on maintaining infrastructure/services and returning capital to shareholders.

AT&T made false statements. They lied and misled investors, the public, and the government.

Randall San
@sbcglobal.net

Randall San

Anon

Re: And the CEO..?

"AT&T made false statements. They lied and misled investors, the public, and the government."

You haven't seen anything. Try working for them...
rradina
join:2000-08-08
Chesterfield, MO

rradina to openbox9

Member

to openbox9
I thought it was rejected because of competitive reasons (AT&T was eliminating a direct competitor). If a company wants to merge with another, I don't think the FTC cares one way or another whether or not it's a good deal for either company or whether or not either company need the merger. They only care
that the merger doesn't significantly change the market dynamics.

In this case, they felt AT&T was attempting to eliminate a direct competitor and the resulting competitive landscape was significantly altered and would have negative impact on consumers.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

said by rradina:

I thought it was rejected because of competitive reasons (AT&T was eliminating a direct competitor).

That's the rejection. I was discussing the views of several armchair quarterbacks that lambasted the proposed acquisition based on the belief that AT&T didn't need T-Mobile.

kamm
join:2001-02-14
Brooklyn, NY

kamm

Member

Re: And the CEO..?

said by openbox9:

said by rradina:

I thought it was rejected because of competitive reasons (AT&T was eliminating a direct competitor).

That's the rejection. I was discussing the views of several armchair quarterbacks that lambasted the proposed acquisition based on the belief that AT&T didn't need T-Mobile.

And indeed they don't.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

said by kamm:

And indeed they don't.

Not relevant to this discussion.
sonicmerlin
join:2009-05-24
Cleveland, OH

sonicmerlin

Member

Re: And the CEO..?

said by openbox9:

said by kamm:

And indeed they don't.

Not relevant to this discussion.

Nor is your bitter opinion of this forum's "armchair quarterbacks".
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

Where did I accuse this forum of armchair quarterbacking? Feeling guilty?
etaadmin
join:2002-01-17
united state

etaadmin to openbox9

Member

to openbox9
said by openbox9:

Why? T is still doing ok. The company's value hasn't taken a hit and in fact the PPS was up 7.8% from the original acquisition announcement to cancellation. The PPS is up another 3.6% from the deal cancellation to yesterday's close. VZ is only up 8.7% during the same time period.

That speaks a lot to the 'transparency' of WallStreet. Evidently somebody inside that corrupt system 'likes' at&t and are willing and in their personal interests to maintain at&t's stock relatively high unchanged.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

I'm not sure what you mean by "transparency of Wall Street". AT&T still holds great value, grows its dividend, and continues to grow the company. This deal was a win for AT&T (and investors) regardless of its outcome, and the investing community knew it.

F.D. I have a relatively small, long position in AT&T.
Skippy25
join:2000-09-13
Hazelwood, MO

Skippy25

Member

Re: And the CEO..?

Why wouldnt a monopolistic company that doesnt really invest in its future grow dividends and "value"?

Eventually that other shoe will drop..... and I can't wait.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

said by Skippy25:

Why wouldnt a monopolistic company that doesnt really invest in its future grow dividends and "value"?

AT&T does invest in its future. It continues to increase the value of the company. It also continues to return capital to shareholders. AT&T has increased its annual dividend for 28 years running. Where's the other shoe?
said by AT&T IR :

"Throughout the economic downturn, we've been very disciplined financially, which has given us strong cash flows and an ability to pay down debt while investing about $20 billion this year to support more customer usage," said Randall Stephenson, chairman and CEO of AT&T. "As a result, we're pleased to be able to increase our stockholders' quarterly dividend for an industry-leading 28th consecutive year. We know millions of our owners are individuals and they count on their AT&T dividend each quarter. It's a responsibility to our owners that we take seriously."

Skippy25
join:2000-09-13
Hazelwood, MO

Skippy25

Member

Re: And the CEO..?

Increasing the value of your company in the short term for a bunch of stock jockeys does nothing for its futures.

There will be a day when AT&T and their stock jockey's pay for the crap network they continue to milk.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

Maybe, maybe not. That's for management and the elected board to determine.
sonicmerlin
join:2009-05-24
Cleveland, OH

sonicmerlin

Member

Re: And the CEO..?

said by openbox9:

Maybe, maybe not. That's for management and the elected board to determine.

Ironically the board is nominated by other board members. Shareholders have a choice of voting for crony #1 or crony #2.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

Shareholders can nominate their own candidates if they wish. Kind of like voting for our elected officials.
Skippy25
join:2000-09-13
Hazelwood, MO

Skippy25

Member

Re: And the CEO..?

Yes, just like it.

The haves continue to have and put people in places to help them have more.

The havenots continue to have the illusion that the haves have given them making them think they have something.

Being that the 2 are so similiar in their thought and how they run I think the below applies quite well to both the corporate and congress cultures.

"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it."
Frederic Bastiat
sonicmerlin
join:2009-05-24
Cleveland, OH

sonicmerlin to openbox9

Member

to openbox9
said by openbox9:

Shareholders can nominate their own candidates if they wish. Kind of like voting for our elected officials.

That is very, very rare and incredibly difficult to achieve. Shareholders aren't nearly organized enough, especially in large corporations.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

Most shareholders and voting constituents are passive in nature, that's why it doesn't happen often.
etaadmin
join:2002-01-17
united state

etaadmin to openbox9

Member

to openbox9
said by openbox9:

I'm not sure what you mean by "transparency of Wall Street". AT&T still holds great value, grows its dividend, and continues to grow the company. This deal was a win for AT&T (and investors) regardless of its outcome, and the investing community knew it.

F.D. I have a relatively small, long position in AT&T.

It is a sarcasm as Wall Street has no transparency, it is all shady deals made in back rooms full of smoke. Only insiders make big money out of 'great valued' companies, little people are left to take 'long' stock positions.

I don't see a short sighted company like at&t to have any value, power and influence in Washington? Yes but 'value' in the good sense of the word NO!

As an investor you should know this quote? "when the elevator operator talks about his investments it is time to get out of the market"
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

Wow. I suggest you educate yourself instead of buying into the negative press the jealous mainstream media perpetuates on behalf of its political agenda. I've been long and short equities and have done well against the averages over the last several years...and I'm not an insider.

So you don't believe AT&T is valuable outside its market value. Luckily that doesn't matter for investors.

I do my own DD so i don't need to listen to the elevator operator.
etaadmin
join:2002-01-17
united state

etaadmin

Member

Re: And the CEO..?

Please educate me

I'm not talking about the 5 or 7% return that you are getting in your stock portfolio I'm talking about 1000 or 5000% or more that insiders, preferred or preferential stockholders get.

I'm not going to get into a stock pissing contest with an unknown or somebody I just met on some internet forum but I'm sure I'm getting much better results than you are.

The system is corrupt and manipulated that is a fact. I don't mean that there's no money to be made, I just say that a good investor has to take into consideration that stock from companies that go up or down don't necessarily mean they are in good or bad shape.

You are the elevator operator in my analogy.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

said by etaadmin:

I'm not going to get into a stock pissing contest with an unknown or somebody I just met on some internet forum but I'm sure I'm getting much better results than you are.

Oh, ok. So you're an insider then?
said by etaadmin:

The system is corrupt and manipulated that is a fact. I don't mean that there's no money to be made, I just say that a good investor has to take into consideration that stock from companies that go up or down don't necessarily mean they are in good or bad shape.

That's what due diligence is for. I'm sure you know that.
said by etaadmin:

You are the elevator operator in my analogy.

Hardly. What advice did I give to you besides a suggestion to educate yourself regarding equity markets?

JasonOD
@comcast.net

JasonOD to openbox9

Anon

to openbox9
Sure they'll be ok, but i'm not happy that they pissed away several billion. I saw this acquisition as way overpriced for a failing company to begin with. I should say that i'm a T stockholder.
openbox9
Premium Member
join:2004-01-26
71144

openbox9

Premium Member

Re: And the CEO..?

It's one thing to suggest the terms of the proposed merger were over the top, but it's entirely different to suggest that ousting of the CEO is in order. As a shareholder, you should be happy that T has outperformed during this time.

I've got a small long position as well.
WCDT
join:2012-02-04
Las Vegas, NV

WCDT to Robert

Member

to Robert
I totally agree man! \m/

FFH5
Premium Member
join:2002-03-03
Tavistock NJ

FFH5

Premium Member

de la Vega also lost power

Besdes Miller being forced out for botching the merger, de la Vega had a big piece of his organization stripped away as well.

»www.att.com/gen/investor ··· pid=9812

Ralph de la Vega, President and CEO—AT&T Mobility, is responsible for the company's largest growth engine, a position he has held since 2007. Today, AT&T is the industry's mobile broadband leader and number-one smartphone provider.

From October 2008 to January 2012, de la Vega served as President and CEO-AT&T Mobility and Consumer Markets. In addition to the company's wireless business, de la Vega led the company's local consumer wireline operations, including U-verse TVĀ® which has received numerous industry awards.

He had all the consumer wireline stripped away and given to someone else.
blushrts
join:2001-01-06
New Cumberland, PA

blushrts

Member

Re: de la Vega also lost power

Wonder how many millions Miller got for retiring? And knowing corporate America, de la Vega probably got a huge raise.

JasonOD
@comcast.net

JasonOD to FFH5

Anon

to FFH5
Too bad. I really liked what he did with U-Verse.
BiggA
Premium Member
join:2005-11-23
Central CT

BiggA

Premium Member

As usual Karl blames AT&T

Not the FCC, where the blame is (mostly) due. Of course, AT&T went a little overboard instead of just stating the clear and obvious facts that supported the merger.

•••••••••
rdmiller
join:2005-09-23
Richmond, VA

rdmiller

Member

Too much credit

Karl gives the FCC too much credit. It was the Antitrust Division of the Justice Department that filed suit against the merger. Later the FCC sheepishly raised its hand and whispered "Me too."
sonicmerlin
join:2009-05-24
Cleveland, OH

sonicmerlin

Member

Re: Too much credit

said by rdmiller:

Karl gives the FCC too much credit. It was the Antitrust Division of the Justice Department that filed suit against the merger. Later the FCC sheepishly raised its hand and whispered "Me too."

I could be wrong but IIRC the FCC handed final decision making to the DoJ. That's when AT&T gave up, because they know the judges at the DoJ can't be bribed (permanent position, maximum life security, etc.).

ryder9
join:2003-01-09
here

ryder9

Member

all of their union contracts are up this year, starting....

In April....

So I guess its CWA/IBEW that's gonna take another bath this contract from the Texans... well all except for the Texan CWA groups.. don't be suprised to see the other unions walk the picket if the powers that be decide to extract that loss from them....

cfm117
join:2004-02-13
Winnetka, CA

1 edit

cfm117

Member

Re: all of their union contracts are up this year, starting....

They have already started. They just kicked everyone off the 12-8pm shift starting last Monday to save the 10% diff. Im guessing the price hikes for measured service and data rates may have something to do with it. Just speculation.
Montezuma
join:2009-11-15

Montezuma

Member

Where is the job movement report?

Where is the report about the more important lower to mid-level jobs being moved to India and the Chezch Republic? I am not talking about low-paying, low-level customer service jobs, but network support jobs and enterprise-level customer support jobs. Forget these pampered, asshole executives, as the real workers are being pushed out in droves.

Someone close to me told me that people are being laid off, or as they move jobs/leave AT&T, the jobs are not being filled. Whole groups in Atlanta are being demolished, as well as many other places, within the US. AT&T might try to blame this on the failed merger, but this has been going on sine before the merger showed any signs of failure.

fiber_man
Things Happen For A Reason
Premium Member
join:2001-01-27
Port Saint Lucie, FL

fiber_man

Premium Member

Union contracts

ATT will try to go to contractors only for a work force. They have already closed two construction yards down around here. They are holding back on work and deployment probably till after the contracts are settled. Amazing the stupidity from this company. They are willing to let vrad cabinets sit and rust instead of firing them up and providing service from them.

ryder9
join:2003-01-09
here

1 recommendation

ryder9

Member

Re: Union contracts

I guess ya'll work for the assholes too huh?

spg6
Grrrr
join:2001-10-31
NOT Texas!

spg6

Member

Re: Union contracts

Happily retired and divested from it entirely for 3 years! And boy don't think for a moment that I regret any part of leaving!