earnings report
Company posts 22% increase in net income for Q1 despite dip in landline earnings
Wall Street Journal Apr 22, 08 2:43 PM CDT
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AT&T posted a 22% increase in net income during the first quarter, thanks to strong growth in its wireless unit. Its wireless earnings nearly doubled, while landline earnings dropped 2.1%. The company’s net income was $3.46 billion (57 cents a share), compared to $2.85 billion (45 cents a share) a year ago, reports the Wall Street Journal .
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Exxon Mobil repeats 2007 performance, finishes second
Fortune Magazine Apr 21, 08 4:07 PM CDT
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Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports. ChevronTexaco (No. 3) and GM (No. 4) swapped places, and ConocoPhillips again rounded out the top 5.
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TV, wireless hires will offset white-collar landline losses
Wall Street Journal Apr 18, 08 2:23 PM CDT
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As it adjusts its business model to lowered demand for landlines, AT&T will lay off 4,600 employees, the Wall Street Journal reports. The company plans to create about the same number of new wireless, broadband, and TV jobs, a trade-off that will create savings through dropping more senior, white-collar workers. "There are parts of the business that are growing and others that are not," a spokesman said.
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Telecoms envision WiFi that can penetrate deep into buildings
Washington Post Apr 6, 08 1:00 AM CDT
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Verizon and AT&T are talking big about recent bandwidth acquisitions at an FCC auction, the Washington Post reports. The companies promised fast, high-tech new networks in the next few years based on long-range frequencies, newly available from television broadcasters, that can penetrate deep into buildings. A Verizon spokesman said the company hoped to connect “anything and everything together,” Reuters reports.
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Apple-store shortages prompt a frenzy of speculation that a refresh is coming early
New York Times Apr 3, 08 12:58 PM CDT
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Yes, there’s an iPhone shortage at Apple stores. No, that doesn’t mean a new iPhone is on the way, reports the New York Times . Apple product shortfalls usually presage new-model introductions, but experts say there’s no certainty that the 3G iPhone will arrive before its scheduled mid-year release, and point out that AT&T stores have plenty of iPhones available.
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ANALYSIS
Ethics crusader is still no stranger to
lobbying culture
Time Mar 27, 08 12:12 PM CDT
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With John McCain the presumptive Republican nominee, Democrats are rushing to expose chinks in the Arizona senator's saintly armor, Michael Scherer reports in Time . Though McCain talks tough about special interests, he has often appeared to have done their bidding. He once, for example, wrote a letter on behalf of a donor after a fundraiser on said donor’s yacht.
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Wireless spectrum auction saw no major first-time entrant
Wall Street Journal Mar 21, 08 1:37 PM CDT
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AT&T and Verizon were the two top bidders in the airwaves auction that ended this week, representing 80% of the FCC’s record $19.6 billion haul and positioning themselves to offer advanced wireless Internet services, reports the Wall Street Journal. Google, sans licenses, was another winner, gaining open access to a chunk of spectrum that mostly went to Verizon.
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A Hollywood agency, Silicon Valley VCs and AT&T partner to invest in digital media
New York Times Mar 3, 08 12:13 PM CST
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In an unusual partnership, a Hollywood talent agency is teaming up with two Silicon Valley venture capital firms and AT&T to invest in Southern California digital media startups. The William Morris Agency announced the fund on Monday, in which AT&T is a limited partner. The focus is online content and technology for social networking, mobile games, and advertising, reports the New York Times .
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Half of all complaints in 2006 months came from 25 companies
PC World Feb 29, 08 5:41 PM CST
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Bank of America led as a target for identity thieves in a 2006 sample of FTC complaints, followed closely by AT&T and Sprint. The survey by Berkeley researchers found that half of all complaints involved 25 organizations, mainly banks and telecom companies, reports PC World . There were 88,000 offenses voluntarily reported over three months’ time.
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Forget Iseman: Senior advisers represent major corporations
Washington Post Feb 22, 08 8:00 PM CST
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Vicki Iseman is just the tip of the iceberg when it comes to John McCain’s associations with lobbyists, the Washington Post reports. McCain targets special interests, but his campaign manager and top advisers are or have been lobbyists representing some of the country’s biggest corporations. Top adviser Charles Black currently numbers GM, JPMorgan, and AT&T among his clients.
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New plan follows hard on news of wireless price war
Wall Street Journal Feb 21, 08 3:00 PM CST
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T-Mobile is giving an extra push to the millions contemplating ditching their landlines. The low-cost wireless carrier is launching a new dirt-cheap VoIP service, which lets T-Mobile customers hook up traditional phones to an Internet router and make unlimited local and long distance calls for $10 a month, the Wall Street Journal reports. Vonage, the most prominent VoIP provider, charges $25 per month.
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Mobile provider expected to undercut flat-rate calling plans
Reuters Feb 20, 08 10:42 PM CST
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With both AT&T and Verizon unveiling $99.99 flat-rate unlimited calling plans this week, Sprint's is expected to undercut its rivals by up to 40%, plunging the wireless industry headlong into a price war. Sprint isn't telling yet, but analysts predict it will offer unlimited calling for roughly $60 a month, more than enough to rattle the market, Reuters reports.
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Verizon, AT&T, T-Mobile get with the program
Associated Press Feb 20, 08 11:45 AM CST
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Cell phone users tired of rationing their minutes have a new alternative—unlimited calling plans for $99.99 a month. Verizon Wireless yesterday introduced a nationwide plan with no domestic roaming or long-distance fees, AP reports. AT&T quickly announced a matching plan, and T-Mobile execs say they’ll unveil an unlimited plan for the same price tomorrow.
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Gates says Yahoo should 'take a hard look' at $41.6B bid
Wall Street Journal Feb 20, 08 9:53 AM CST
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Microsoft, at loggerheads with Yahoo over its $41.6-billion offer for the popular web portal, is talking tough, threatening a proxy battle to unseat Yahoo’s reticent board of directors, reports the Wall Street Journal . But even a win, which experts say would be relatively cheap to achieve, could cost Microsoft in the form of Yahoo employee animosity and attrition.
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