Jedi mind tricks? *AT&T waves hand*
AT&T: "This is not the news you are looking for."
Shareholders: "This is not the news we were looking for."
AT&T: "You will invest more money in us."
Shareholders: "We will invest more money in you."
AT&T: "Move along now."
Shareholders: "Let's move along now."
Re: I hope every shareholder dropps their investment There's really nothing for the SEC to investigate. Companies are required to file quarterly shareholder reports with specific information on them; they're not required to give investors any additional details. I do hope the shareholders vote in a board more sympathetic their request (which would put pressure on management to actually give more info), but I'm not sure that there are enough shareholders interested in this to make that happen.
Re: Screw the shareholders too?
said by Jcink:ATT shares are so widely held that no one group or groups has the power to force ATT to change individual policies. And, besides, very few shareholders care about this issue. Most, like me, only care about the dividend and the share price. And the share price of ATT is tied more to overall economy than it is to any one decision made by the company.
Wow. Things are bad when even the share holders are being told to screw off.
I would love to see all the shareholders sell.
Re: Screw the shareholders too? A stock selloff doesn't make a company bankrupt. As long as they're making a profit (and their cash position is OK), they'd be solvent, even if the stocks are worthless. Certainly they have an interest in keeping the stock prices up, since most senior management also have stock holdings in the company, but stock prices don't directly affect a company's operations.
Re: AT&T's response
said by NefCanuck:Why don't you read the actual letter they sent the SEC? They cite a number of precedents in previous SEC decisions.
Wow, this is chutzpah of the highest level by AT&T execs "ordinary business transactions" my arse...
In corporation law, management is given broad latitude to manage the company. If the shareholders want to change things, they have the right to replace the directors, who can then replace the management.
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Sad I scroll all the way to the last comment and nobody points out that this is likely just code words for "we're making lots of under the table money with this" speak.
This is all top secret doings. They don't have to report it in a way that is visible, or at all even and it's money given to them by the US government, every corporations favorite flavor of money.
Do you think shareholders give a crap about anything that is making them money? Profits up, anything else be damned.. anything including all the lives lost making AT&T more money.
Say no to astroturfing. go to their profile, start ignoring posts and ignoring what's not true.
San Francisco, CA
Bingo The light bulb finally lights up!!!
Shareholders are actually owners of the cooperation, the evil evil cooperations, and they can and do vote with their wallets.
However even with these damning revelations, I'm willing to bet there won't be a mass exodus or sell off, because as a shareholder, there is money and dividend to be made.
If the sheeples* hold stocks in these cooperations, they ARE condoning to their behaviors. (*I'm talking about the people who own ATT stocks, AND then complain about ATT's practices....)
Also, do people know what their 401K's, mutual funds, ETF's are holding? I'm not sure, but I think there are big institutional shareholders in ATT.
said by Skippy25:AT&T has almost 5.3 billions shares outstanding with only ~62% held by institutions. That leaves ~2 billion shares for the rest of us. Every shareholder has a vote to elect a board to operate the business.
No, this just goes to show that very few stockholders own a company