text
stringlengths
0
1.99k
Incorporated New York Mar 3 1885.
Authorized capital consists of 1,200,000,000 shares common stock $1
par value and 100,000,000 shares preferred stock $1 par value.
Outstanding Capital Stock at Feb 28 1987: 1,071,904,000 common
shares and at Dec 31 1986 preferred stock outstanding consisted of
redeemable preferred shares composed of 8,500,000 shares of $3.64
preferred stated value $50; 8,800,000 shares of $3.74 preferred, stated
value $50 and 25,500 shares of $77.50 preferred, stated value $1,000.
Business started 1885.
The company's common stock is listed on the New York, Boston,
Midwest, Philadelphia and Pacific Coast Stock Exchanges under the symbol
"ATT". At Dec 31 1986 there were 2,782,102 common shareholders. At Jan 1
1986 officers and directors as a group owned less than 1% of the
outstanding common stock with the remainder owned by the public.
OLSON, born 1925. 1950 Univ of North Dakota, BSC. Also attended
Univ of Pennsylvania. 1943-1946 United States Army Air Force. 1960-1970
Northwestern Bell Telephone Co, V Pres-Gen Mgr. 1970-1974 Indiana Bell
Telephone Co, Pres. 1974-1977 Illinois Bell Telephone Co, Pres. 1977 to
date AT&T, 1979 V Chb-Dir; Jun 1985 President, 1986 CHM.
MARSHALL, born 1929, married. 1951 Univ of Illinois, BS; also
attended Bradley Univ; 1953-present AT&T; 1980 Asst Treas, 1976 Vice
Pres-Treas; 1985 Exec Vice President, 1986 V-CHM.
TANENBAUM, born 1928 married. 1949 Johns Hopkins Univ, BA
chemistry. 1950 Princeton Univ, MA chemistry. 1952 PhD in physical
chemistry. 1952 to date AT&T, various positions, 1985 Ex Vice Pres, 1986
V-CHM.
PRENDERGAST, born 1941 married. 1963 Brown Univ, BA. 1969 New York
Univ, MBA. 1963-1973 Western Electric Company; 1973 to date AT&T, 1980
Asst Treas, 1984 V Pres-Treas.
COLWELL, born 1927. Attended AT&T Institute of Technology.
1945-1947 U S Army. Employed by AT&T and its subsidiaries since 1948 in
various positions. 1984 Vice Pres & Contr, AT&T Technologies Inc
(subsidiary); 1985-present V Pres-Contr.
ALLEN born 1935 married. 1957 Wabash College BA. Has held a
vareity of executive position with former Bell Operating subsidiaries
and AT&T subsidiaries. Appointed to current position in 1986.
TOBIAS born 1943. 1964 Indiana University with a BS in Marketing.
Has held a variety of management and executive positions with former
Bell Operating subsidiaries and AT&T subsidiaries. Elected to current
position in 1986.
OTHER OFFICERS: James R. Billingsley, Sr V Pres Federal
Regulation; Michael Brunner, Ex V Pres Federal Systems; Harold
Burlingame, Sr V Pres Public Relations and Employee Information;
Vittorio Cassoni, Sr V Pres Data Systems Division; Richard Holbrook, Sr
V Pres Business Sales; Robert Kavner, Sr V Pres & CFO; Gerald Lowrie, Sr
V Pres Public Affairs; John Nemecek, Ex V Pres Components & Electronic
Systems; John O'Neill, Ex V Pres National Systems Products; Alfred
Partoll, Sr V Pres External Affairs; John Segall, Sr V Pres Corporate
Strategy & Development; Alexander Stack, Sr V Pres Communications
Systems; Paul Villiere, Ex V Pres Network Systems Marketing and Customer
Operations; John Zegler, Sr V Pres and General Counsel; and Lydell
Christensen, Corp V Pres and Secretary.
DIRECTORS: MCHENRY, research professor, Georgetown University.
BAKER JR, partner, Vinson & Elkins and Baker, Worthington, Crossley,
Stansberry & Woolf, attorneys. EVANS, former Chairman, Union Pacific
Corporation. HAAS, Chairman, Levi Strauss & Company. HAWLEY, Chairman,
Carter Hawley Hale Stores Inc. JEFFERSON, former Chairman, E.I. du Pont
de Nemours and Company. JOHNSON, private investor and owner of The
Chaparrosa Ranch. KREPS, former United States Secretary of Commerce.
PERKINS, former Chairman, Jewel Companies Inc. SCHACHT, Chairman,
Cummins Engine Company Inc. SOVERN, President, Columbia University.
WARNER JR, former Chairman, Mobil Corporation. WILLIAMS, Chairman,
Warner Lambert Company. WYMAN, former Chairman, CBS Inc.
As a result of an antitrust action entered against American
Telephone and Telegraph Company (AT&T) by the Department of Justice,
AT&T agreed in Jan 1982 to break up its holdings. In Aug 1982, the U. S.
District Court-District of Columbia, entered a consent decree requiring
AT&T to divest itself of portions of its operations.
The operations affected consisted of exchange telecommunications,
exchange access functions, printed directory services and cellular radio
telecommunications services. AT&T retained ownership of AT&T
Communications Inc, AT&T Technologies Inc, Bell Telephone Laboratories
Incorporated, AT&T Information Systems Inc, AT&T International Inc and
those portions of the 22 Bell System Telephone Company subsidiaries
which manufactured new customer premises equipment. The consent decree,
with modifications, was agreed to by AT&T and the U. S. Department of
Justice and approved by the U. S. Supreme Court in Feb 1983. In Dec
1982, AT&T filed a plan of reorganization, outlining the means of
compliance with the divestiture order. The plan was approved by the
court in Aug 1983
The divestiture completed on Jan 1 1984, was accomplished by the
reorganization of the 22 principal AT&T Bell System Telephone Company
subsidiaries under 7 new regional holding companies. Each AT&T common
shareowner of record as of Dec 10 1983 received 1 share of common stock
in each of the newly formed corporations for every 10 common shares of
AT&T. AT&T common shareowners retained their AT&T stock ownership.
The company has an ownership interest in certain ventures to
include:
(1) Owns 22% of the voting stock of Ing C. Olivetti & C., S.p.A. of
Milan, Italy with which the company develops and markets office
automation products in Europe.
(2) Owns 50% of a joint venture with the N. V. Philips Company of
the Netherlands organized to manufacture and market switching and
transmission systems in Europe and elsewhere.
(3) Owns 44% of a joint venture with the Goldstar Group of the
Republic of Korea which manufactures switching products and distributes
the company's 3B Family of Computers in Korea.
The company also maintain stock interests in other concerns.
In addition to joint venture activities described above,
intercompany relations have also included occasional advances from