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Summary:

With SBC gulping AT&T without as much as a gulp, one could feel a tad sorry for some of the executives from the “old” Ma Bell who were shown the door by King Ed The First. For example, David Dorman, the former CEO of AT&T, whom […]

With SBC gulping AT&T without as much as a gulp, one could feel a tad sorry for some of the executives from the “old” Ma Bell who were shown the door by King Ed The First. For example, David Dorman, the former CEO of AT&T, whom we have always liked for being a bit of straight shooter. He got a $32 million pay out, for hitting the exit. As part of his agreement, he had early access to $17.7 million worth of options and shares which he would have received over the next several years, based on the $19.71 value assigned to AT&T’s shares in the SBC merger agreement.

Well, he is calling in his chips quick – data from Thomson Financial’s Insider Advisory shows that he has sold about 384,227 shares for about $9.53 million, or about $24.79 a share. Most of the sales were in the month of November. That’s a premium of about $5 per share from the deal-price. The stock closed today at about $24.63 a share. His share sales harbinger of things to come?

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  1. [...] Business Week recently published a piece on how everything is smelling like roses in the new AT&T (SBC+old AT&T). CEO/Chairman Ed Whitacre told the Wall Street crowd, that ‘”Merger integration is on a good track, and we continue to execute well on all fronts.” COO Randall Stephenson told Business Week pretty much the same thing. AT&T’s legacy business is a very fast-moving, heavy-negotiated type of business. It’s a very different type of business than what we had on the old, legacy SBC side. The last thing you want to do is change that laser beam-type of focus, that deal kind of culture. So what we are doing is taking that SBC business and effectively shutting it down and forklifting all of that onto the AT&T platform and letting that AT&T environment drive the business segment going forward. So we’re trying to really assimilate our business side to the AT&T culture. We don’t want to mess up what has been created over the last couple of years.Not quite actually! Former CEO David Dorman is out of the door. Rest of the senior management has been whacked and replaced by the Texas crowd There was some talk about how the second tier of old-AT&T management was staying put in place. Looks like the second tier ranks are beginning to thin as well. Behzad Nadji, chief architect of old AT&T added SBC labs to his portfolio. A few months later, according to a well placed source of mine, he has left the building, and his role has been taken over by SBC Labs President & CEO Keith Cambron. SBC spokesperson did confirm that. Meanwhile Andy is reporting that there are “pink slips” coming at Level 3 and SBC. [...]

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  2. [...] Business Week recently published a piece on how everything is smelling like roses in the new AT&T (SBC+old AT&T). CEO/Chairman Ed Whitacre told the Wall Street crowd, that ‘”Merger integration is on a good track, and we continue to execute well on all fronts.” COO Randall Stephenson told Business Week pretty much the same thing. AT&T’s legacy business is a very fast-moving, heavy-negotiated type of business. It’s a very different type of business than what we had on the old, legacy SBC side. The last thing you want to do is change that laser beam-type of focus, that deal kind of culture. So what we are doing is taking that SBC business and effectively shutting it down and forklifting all of that onto the AT&T platform and letting that AT&T environment drive the business segment going forward. So we’re trying to really assimilate our business side to the AT&T culture. We don’t want to mess up what has been created over the last couple of years.Not quite actually! Former CEO David Dorman is out of the door. Rest of the senior management has been whacked and replaced by the Texas crowd There was some talk about how the second tier of old-AT&T management was staying put in place. Looks like the second tier ranks are beginning to thin as well. Behzad Nadji, chief architect of old AT&T added SBC labs to his portfolio. A few months later, according to a well placed source of mine, he has left the building, and his role has been taken over by SBC Labs President & CEO Keith Cambron. SBC spokesperson did confirm that. Meanwhile Andy is reporting that there are “pink slips” coming at Level 3 and SBC. [...]

    Share
  3. [...] Business Week recently published a piece on how everything is smelling like roses in the new AT&T (SBC+old AT&T). CEO/Chairman Ed Whitacre told the Wall Street crowd, that ‘”Merger integration is on a good track, and we continue to execute well on all fronts.” COO Randall Stephenson told Business Week pretty much the same thing. AT&T’s legacy business is a very fast-moving, heavy-negotiated type of business. It’s a very different type of business than what we had on the old, legacy SBC side. The last thing you want to do is change that laser beam-type of focus, that deal kind of culture. So what we are doing is taking that SBC business and effectively shutting it down and forklifting all of that onto the AT&T platform and letting that AT&T environment drive the business segment going forward. So we’re trying to really assimilate our business side to the AT&T culture. We don’t want to mess up what has been created over the last couple of years.Not quite actually! Former CEO David Dorman is out of the door. Rest of the senior management has been whacked and replaced by the Texas crowd There was some talk about how the second tier of old-AT&T management was staying put in place. Looks like the second tier ranks are beginning to thin as well. Behzad Nadji, chief architect of old AT&T added SBC labs to his portfolio. A few months later, according to a well placed source of mine, he has left the building, and his role has been taken over by SBC Labs President & CEO Keith Cambron. SBC spokesperson did confirm that. Meanwhile Andy is reporting that there are “pink slips” coming at Level 3 and SBC. [...]

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