Gray Flannel Dwarf

3/5/2006

The wacky, wild world of Ma Bell.

So, okay, let me get this straight.

* I used to have AT&T as my local phone service when I lived in Northern Virginia — as a protest against Verizon’s refusal to offer broadband — and then AT&T later on decides they are no longer going to take on new local service.

* I had AT&T Wireless as my mobile phone provider, until AT&T sold it to Cingular.

* AT&T Corp. was bought by SBC whereupon the new corporate name became “AT&T”

* Now, AT&T is purchasing BellSouth — who happens to be my telco/dsl provider — and why? (emphasis mine)

AT&T Inc. said Sunday it will acquire smaller rival BellSouth Corp. for $67 billion in stock, in an apparent bid for total control of their growing joint venture, Cingular Wireless LLC

But wait, there’s more…

AT&T was formed by San Antonio-based SBC’s acquisition of AT&T Corp. in November. The deal added a substantial national reach to the former Southwestern Bell’s local business, which is concentrated in 13 states, including Texas, California, and the Midwest.

BellSouth is the dominant local telephone provider in nine Southeastern states.

And more…

Under the deal, the Cingular brand will be phased out in favor of the AT&T brand. The name will be familiar to wireless customers: AT&T Wireless Inc., a spin-off of AT&T, was acquired by Cingular in October 2004.

Let’s just forget about the elephant in the room for a while, namely the continued mergers in a monopolised industry that was broken up by the government… forget about it because it’s obvious why so many of these players have had so much trouble in the past few years: all these spinoffs and mergers and acquisitions are costing companies mad cash and they’re all going in circies, chasing their tails.
Meanwhile, it’s the executives of these large corporations who keep getting the bonuses and appointments due to their “successes” and “synergies”.

Kinda makes you wonder who’re really the ones getting the shaft, right?

(Not really…)


Tags: , , , , — cswiii @ 5:30 pm

Leave a Reply