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Showing posts with label AT&T. Show all posts
Showing posts with label AT&T. Show all posts

David W. Dorman

Pete BennettOctober 18, 2022Accenture, AT&T, Big Tech, Longs Drugs, Mergers and Acquisitions, Telecommunications, The FCC Files No comments
David W. Dorman
Born: 1954
Gender: Male
Race or Ethnicity: White
Sexual orientation: Straight
Occupation: Business
Nationality: United States
Executive summary: CEO of AT&T, 2002-06
Wife: Susan (three children)
    University: BS, Georgia Institute of Technology (1975)
    AT&T CEO (2002-06)
    AT&T President (2000-02)
    Concert Communications CEO (1999-2000)
    PointCast President and CEO (1997-99)
    SBC EVP (1997)
    Pacific Bell President and CEO (1994-97)
    Sprint President of Sprint Business (1990-94)
    Sprint (1981-90)
    Member of the Board of AT&T (as Chairman, 2002-06)
    Member of the Board of CVS (-2007)
    Member of the Board of CVS Caremark (2007-)
    Member of the Board of Motorola (2006-)
    Member of the Board of Pacific Bell (as Chairman, 1994-97)
    Member of the Board of PointCast (as Chairman, 1997-99)
    Member of the Board of Scientific-Atlanta (1998-2006)
    Member of the Board of Yum! Brands (2005-)
    Friends of George Allen
    Georgia Tech Foundation Trustee
    John McCain 2008
    New Leadership for America PAC
    Romney Victory Inc.
    Woodruff Arts Center Trustee
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Milken Money Milking the Redwoods

Pete BennettMay 29, 2020AT&T, Bennett v. Southern Pacific, Larry Ellison, Lawrence Investments, Michael Milken, The Judi Bari Bombing No comments

Pete Bennett contracted to SBCglobal during 9/11 helped bring down Building 7 containing SEC documents aimed at Enron.

Bennett sued Southern Pacific, worked for ComputerLand where his reporting project revealed the owners sold to Merisel Fab a big bucket of cooked books that cost his peers thier retirement. 

Then Bennett became a pawn in the game of International Politics of War by deploying the global virus that wiped out servers around the globe.

Effectively ensuring the Enron investigation died along with 3000 during the previous week.

Amazing considering the tears of millions were weeping while the flesh was rotting and first responders inhaling the acrid toxins creating those last future beath decades later.

Bennett v Southern Pacific 
Contra Costa v Helix, kinder Morgan,  union Pacific 

MG Dan Helix grandson found dead in Las Vegas just like Madeline Seeley in connection to PG&E before San Bruno

Officer Clemente arrests Bennett over and over 
eeping 


####

Feature

Ravaging the Redwood: Charles Hurwitz, Michael Milken and the Costs of Greed

by Ned Daly

The fate of the largest unprotected redwood forest in the world may now rest in the hands of an unlikely savior, the Federal Deposit Insurance Corporation (FDIC).

Since the 1985 MAXXAM takeover of Pacific Lumber, the redwood ecosystem known as the Headwaters Forest, located in Humboldt County on California's North Coast, has been under siege. Lawsuits, direct action, legislative efforts and all other attempts at preservation have so far failed to curb MAXXAM's ravenous appetite for redwood lumber. Now many environmentalists and community activists are hoping the FDIC can stop the forest from falling victim to corporate greed. The federal agency may be able to acquire the redwood forest as partial or full payment for the $548 million outstanding claim against the United Financial Group (UFG), a holding company for United Savings Association of Texas (USAT), a failed savings and loan controlled by MAXXAM and its chief executive officer, Charles Hurwitz.

Hurwitz is not averse to transferring part of the Headwaters Forest to federal government control, but he is insisting on rather different terms than environmentalists are proposing. Ignoring the fact that a company he controls, UFG, owes $548 million to the government, he has asked the government to pay him $600 million cash for a small grove of redwoods; if the offer is refused, he has threatened to liquidate the forest.

"If the federal government does not purchase the Headwaters Forest, Pacific Lumber will go ahead with its timber operations," says MAXXAM's Director of Public Relations Scott Lamb.

 A Wall Street Journal article said Hurwitz's proposal "brings new meaning to the term greenmail." Hurwitz paid approximately $900 million for the 196,000 acres owned by Pacific Lumber. If the government were to accept his proposal to buy 4,500 acres for $600 million, Hurwitz would earn a profit of more than 2,800 percent.

The people of California's North Coast know Charles Hurwitz and MAXXAM well enough to take his threat seriously. Twice in 1992, the company cut hundreds of trees in the old-growth grove of Owl Creek on holidays and weekends when state regulators were not working, in violation of the California Board of Forestry cutting regulations. Both times the cutting was eventually stopped by court injunction. Under current plans, MAXXAM will harvest all the remaining old-growth redwoods it owns within the next 14 years.

One of the last stands

 The government's response to MAXXAM and Hurwitz's threat will determine the fate of a unique ecosystem.

Many trees in the Headwaters Forest are as old as 2000 years. The cornerstones of an old-growth ecosystem are species diversity and a continual recycling process interlocking life and death. After a 300- foot redwood falls, it serves as a nurse log to help new seedlings grow. The seedlings grow right out of the nurse log, which provides nutrients to the new trees as it decays. As the older tree falls, it creates one of the few canopy breaks in an otherwise shady forest floor. The nurse log lies basking in the sunlight, offering the new seedlings essential light as well as nutrients.

 Logging, especially clearcutting, stops this ecological recycling process and seriously threatens the forest's ability to regenerate. When loggers remove cut trees, they also remove the nutrients that the trees would have returned to the soil. The soil itself will be lost after a rain because it no longer has trees holding it in place. As topsoil is depleted, desertification begins.

Though the redwood forests still support a diverse array of species, including California black bear, mountain lion, Pacific fisher and steelhead trout, logging is taking a severe toll on forest wildlife. Many rare and endangered species also call the redwoods of Humboldt County home, among them the northern spotted owl, marbled murrelet, pacific giant salamander, tailed frog and coho salmon. Their survival is dependent on a diverse and healthy old-growth forest.

 Carl Ross, co-director of Save America's Forests, the nation's largest grassroots forest protection organization, says, "If we fail to protect these last stands of redwoods, we will lose one of the greatest wonders of the living world for all time. Less than 4 percent of native redwoods are still standing, and that tiny percentage is being hacked and cut for the last shred of money that can be sawed from their red roots. If we allow the extinction of these largest of all living things, we will be condemned as a society that knew the price of everything and the value of nothing."

Takeover plunder

 The redwoods of Humboldt County may seem a long way from Houston, and United Savings Association of Texas, but whether the FDIC decides to pursue the connection may determine whether the Headwaters Forest survives.

 There was little need to worry about the Headwaters Forest before Hurwitz's takeover of the Pacific Lumber Company. The family-run business was one of the most economically and environmentally sound timber companies in the United States. Pacific Lumber rarely if ever clearcut; it generally left standing 30 to 50 percent of the timber in a harvested area. This not only created natural canopy break for new growth, it also kept much of the soil stable, increasing the forests' growth potential.

 The company was also generous to its employees. Pacific Lumber rented housing at below market rates to employees and maintained a "no layoff" policy despite downturns in the timber market. The company also funded a very generous pension fund.

 Pacific Lumber's strength soon became its weakness, however. The pension fund was overfunded by $60 million, and, because of its sustainable cutting practices, the company held tremendous assets (old- growth redwoods) that could be liquidated quickly. Assessing Pacific Lumber in 1985, Charles Hurwitz decided it was ripe for a takeover, and he plucked it in the fall of that year.

Almost immediately after the takeover, Hurwitz raided the pension fund and doubled the rate of cutting to pay off the loans and junk bonds used to finance the takeover. If there was any doubt about Hurwitz's intentions and his dedication to preserving the sustainability of his new acquisition, it was cleared up in his first meeting with the workers of Pacific Lumber. Hurwitz was quoted by Time magazine as telling his new employees, "There is the story of the golden rule: he who has the gold rules."

Creative financing

 The story of MAXXAM's takeover of Pacific Lumber is itself a tale of intrigue, shady dealings and questionable business practices. MAXXAM announced that it would make a cash tender offer for Pacific Lumber on September 30, 1985. Drexel, Burnham, Lambert structured the financing, which consisted of a $300 million short-term loan from the Irving Trust Company and $450 million dollars worth of junk bonds sold by Michael Milken's high-yield bond department at Drexel Burnham.

 Shortly after MAXXAM made its offer, the New York Stock Exchange (NYSE) initiated an investigation into the heavy volume of trading in Pacific Lumber stock which took place in the days before MAXXAM made its offer. A House Energy and Commerce Subcommittee on Oversight and Investigation report states that the NYSE investigation uncovered significant evidence of insider trading and parking stock, although no civil or criminal actions were brought against MAXXAM or its associates for their activities related to MAXXAM's purchase of Pacific Lumber.

 The NYSE investigation, the subcommittee's report and subsequent congressional hearings all make a strong case that stock parking took place. Parking stock is the practice of buying stock for another party in order to conceal the identity of the true or eventual owner. If Hurwitz had someone park stock for him, he could have accumulated Pacific Lumber stock anonymously and at a lower price than after the company was put "into play" (when it became known a single party was accumulating large blocks of the company's stock), which would drive the price of stock up almost immediately.

 Boyd Jefferies, former chairperson of the Los Angeles brokerage firm Jeffries Group, Inc., who later pleaded guilty to parking stock for Ivan Boesky, accumulated 539,600 shares of Pacific Lumber stock and sold the shares on September 27 to MCO Holding Company, a Hurwitz-controlled enterprise. Presumably, this purchase gave Hurwitz enough stock to begin the hostile takeover of Pacific Lumber which he commenced three days after MCO purchased the stock.

Hurwitz and Jefferies both deny any prior agreement to park stock, but Energy and Commerce Committee Chair John Dingell, D-Michigan, and Representative Ron Wyden, D-Oregon, concluded in October 1987 that it was unlikely that the sale took place without a prior agreement, because the stock was sold well below the trading price on September 27, 1985. Since there had been so much trading before Hurwitz's offer, the stock price had already begun to rise. On September 27, Pacific Lumber was trading at close to $34 per share. In what was probably one of the more philanthropic stock sales ever seen on Wall Street, Jefferies sold the Pacific Lumber stock at $29.10 rather than its market trading price of $34. The discount sale was not attributable to a prior agreement, according to both parties, but apparently to the fact that Boyd Jefferies felt good-hearted that day.

Jefferies' generosity was not enough to ensure the financial stability of the newly acquired company. Though the interest payments on the junk bonds Hurwitz and MAXXAM used to finance the takeover were not due for four years, it was evident soon after the purchase of Pacific Lumber that it would be difficult to cover the debt. The annual interest payment on the junk bonds was more than the historical annual profit of Pacific Lumber.

To make the bonds more attractive to potential bidders, MAXXAM announced it would terminate the pension plan and sell most nontimber assets to pay the bank loan. MAXXAM also decided it would increase Pacific Lumber's timber cutting rate to pay off the junk bonds.

Getting to the pension fund required some slick maneuvering. According to William Bertain, a lawyer representing shareholders in Pacific Lumber and residents of Humboldt County in a suit against Pacific Lumber, the company attempted to protect the pension fund before Hurwitz's raid by declaring that the pension fund's excess $60 million would vest directly to the employees and retirees in the event of a hostile takeover.

Under pressure from a suit by MAXXAM, the Pacific Lumber board of directors agreed to a "friendly takeover," and MAXXAM agreed to defend the Board if it was found to have breached its fiduciary duty to the shareholders. MAXXAM increased its offer by $1.50 a share, for a total increase of approximately $33 million. But since it was now undertaking a friendly takeover, MAXXAM had access to the $60 million excess in the pension fund - so MAXXAM came out $27 million richer, despite the higher price paid.

Hurwitz was later sued by the U.S. Department of Labor and employees for investing Pacific Lumber's pension fund with the now-failed Executive Life Insurance Co. allegedly in return for Executive Life's junk bond financing of the Pacific Lumber takeover. The suit is still pending.

Failing Finances

 Three years after MAXXAM's takeover of Pacific Lumber, another piece of Hurwitz's empire, United Savings Association of Texas, failed. The circumstances of the failure remain hazy. Although MAXXAM's Lamb claims that "USAT's decline can be attributed to a decline in the Texas real estate market," the S& L's deep involvement in Michael Milken's junk-bond schemes appears to have been an important factor in its downfall.

 By the time USAT failed in 1988, Hurwitz had already gained the attention of regulators. In 1971, Hurwitz was sued by the Security and Exchange Commission for alleged stock manipulation, and charged by New York State regulators with looting Summit Insurance Company. Hurwitz was not found guilty in either case.

 In the three years prior to its failure, USAT purchased more than $1.3 billion worth of junk bonds underwritten by Drexel Burnham. During those same years, the Milken group raised about $1.8 billion for Charles Hurwitz and his takeover ventures, including the takeover of Pacific Lumber, according to a FDIC lawsuit against Michael Milken.

 The FDIC told the United Financial Group (UFG) that the company and its officers are liable for breach of fiduciary duty for wrongfully failing to maintain the net worth of a failed savings and loan. The FDIC also alleges that Hurwitz used USAT to aid Michael Milken's scheme to manipulate the junk bond market. And the FDIC accused UFG of wrongfully causing USAT to pay dividends to UFG.

 At the time of the failure, MAXXAM owned approximately 22 percent of USAT and 28 percent of United Financial Group, the thrift's holding company. Charles Hurwitz was chair of both MAXXAM and UFG when USAT failed.

The questions of propriety surrounding the takeover of Pacific Lumber and the collapse of USAT may provide hope for the preservation of the Headwaters Forest, as Congress and environmentalists try to fashion a response to Hurwitz's demands.

 One possibility is for the government to accede to the proposal for a $600 million cash buyout of the forest. The Headwaters Forest Act, introduced by Representative Dan Hamburg, D-California, would authorize the Department of Agriculture to buy 44,000 acres of the forest. Because of Congress's understandable reluctance to pay $600 million, the bill leaves the amount and method of payment open to negotiation between the Department of Agriculture and Hurwitz.

 Hamburg's bill has passed the House of Representatives and Senator Barbara Boxer, D- California, has introduced a Senate version of Hamburg's bill, but it currently has no co-sponsors.

 Another, bolder approach would avoid the need for Congress to directly or indirectly authorize funds for the purchase of the Headwaters Forest. Prodded by some environmentalists, Representative Ron Dellums, D-California, Chair of the House Banking Committee Henry Gonzales, D-Texas, and other members of the House have asked the FDIC to consider "disgorging" Pacific Lumber from MAXXAM, on the grounds that MAXXAM's takeover of Pacific Lumber was inextricably bound up with USAT's failure.

 The case for disgorgement, Dellums wrote to FDIC Chairman Andrew Hove, "is based on the assessment that MAXXAM acquired Pacific Lumber as a direct result of certain alleged breaches of fiduciary duties owed United Savings Association of Texas (USAT) by MAXXAM, as controlling stockholder, and by similar alleged breaches of duty on the part of certain overlapping officers and directors." The letter explains, "These alleged breaches include causing USAT to invest heavily in junk bonds underwritten by Drexel, Burnham and Lambert as a quid pro quo for Drexel's underwriting of the bonds MAXXAM used to acquire Pacific Lumber."

 Jill Ratner, a lawyer at the Oakland-based Rose Foundation was the first to look into the idea of disgorgement. According to Ratner, "We based our theory on the FDIC's own allegations in a related case. The FDIC's complaint in FDIC v. Milken alleged that Drexel, Burnham and Lambert and MAXXAM's CEO, Charles Hurwitz, arranged for the S& L [USAT] to purchase millions of dollars of Drexel's underwritten bonds in return for Drexel's securing the financing that allowed MAXXAM to buy out Pacific Lumber. In the end, these alleged interested insider transactions were very much to MAXXAM's advantage and very much to USAT's detriment."

 In sum, Ratner says, "What we're saying is that if the FDIC can prove what it already alleged, MAXXAM should be made to surrender the profit it made on the allegedly improper financing deal, and that profit is Pacific Lumber."

 The FDIC has responded to the calls for disgorgement by stating that it is still reviewing the matter, and that it has entered into an agreement with UFG and others who may be responsible for losses resulting from the failure. The parties have all agreed to hold off legal actions and negotiate toward a settlement.

 Disgorgement would put the Headwaters into federal ownership, but many in the communities throughout Humboldt County would like to see Hurwitz pay for his actions with more than just trees. Darryl Cherney, an Earth First! activist in Garberville, California, has been working on this issue since MAXXAM took over Pacific Lumber. Cherney has a deep disgust for Hurwitz and his business practices. "Hurwitz has pilfered the Pacific Lumber pension fund, ripped off the redwoods, and swindled a savings and loan to do it. We say three strikes and you're out. The only thing that is up for negotiation as far as old growth redwoods are concerned is the length of Hurwitz's jail sentence."


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BlackRock CEO Tells Companies To Contribute To Society. Here's Where To Start

Pete BennettApril 13, 2020Albertsons, AT&T, Blackrock, CalPERS, The Safeway Conspiracy No comments
1,872 viewsJan 16, 2018, 12:02pm

BlackRock CEO Tells Companies To Contribute To Society. Here's Where To Start

Peter Horst
Peter HorstContributori
CMO Network -I write and consult on CMO leadership challenges in modern marketing
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  • Without a sense of purpose, no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate from key stakeholders.
BlackRock Inc. headquarters building in New York. Daniel Acker/Bloomberg News

{ THE PG }
Some events stand out as watershed moments that re-define the environment and re-direct the course of events. Bill Gates writing his “Tidalwave of the Internet” memo in 1995. Steve Jobs holding up the iPhone in 2007. I believe we’re seeing another such moment: on January 12, BlackRock CEO Larry Fink sent a letter to CEOs of public companies telling them that they’re responsibility not only to deliver profits, but also to make “a positive contribution to society.”
In his letter, which I received from BlackRock today, Fink lays out a number of requests which one might find surprising from a $6 trillion asset manager. He cites the pre-occupation with short-term, reactive measures to drive quarterly profits and asks CEOs to focus on “investments in employee development, innovation and capital expenditures that are necessary for longer-term growth.”
Even more electrifying, however, was Fink’s clarion call for CEOs to seize the mantle of leadership in making the world a better place, beyond simply delivering profits. He sees governments as failing in their duty to address the major challenges that loom in the future: “As a result, society is increasingly turning to the private sector and asking that companies respond to broader societal challenges.”

Larry Fink, chairman and chief executive officer of BlackRock Inc. Chris Goodney/Bloomberg
To make this case, Fink explicitly raises the issue of purpose as the critical North Star to guide corporate decisions: “ Without a sense of purpose, no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate from key stakeholders. ” He cites environmental impact, workforce diversity, community engagement and employee re-training as among the larger issues companies must grapple with.

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The reason Fink’s letter is so striking is that it goes straight to the heart of a raging debate about the role of social purpose in a brand’s agenda. One camp, call it Team Jim Stengel, argues that embracing purpose is not only essential to developing resonant customer relationships, but it also drives better corporate performance. The opposing camp, call it Team Mark Ritson, believes that social causes are for one’s private life and that the purpose of business is to drive profits.
Fink’s letter says they’re both right. Make no mistake, the outcome Fink seeks is a healthy long-term return for the millions of individuals whose investments he stewards—he offers no easy outs for disappointing performance. The challenge he lays out is to simultaneously walk and chew gum, to find that magic resolution of the seemingly competing mandates: deliver financial returns and make the world better at the same time.
In his letter, Fink pulls the rug out from under that most common and potent objection to embracing a broader purpose beyond selling product: that shareholders don’t value your lofty ideals, they only want profits. Executives can no longer point to Wall Street as a reason for staying safely on the sidelines of the uncomfortable challenges and debates around social, environmental and political issues.
Many companies are already well down this path, with a range of results from laudable to cringeworthy. The Dove brand has won many kudos for its stirring campaigns focused on the notion of real beauty; Pepsi, on the other hand, earned widespread condemnation for its ad that featured Kendall Jenner defusing a social protest with a can of soda. Even leaving aside the question of how purpose relates to profits, embarking on a brand agenda for social good is no simple matter.

Here is a set of key steps to follow, for companies that are either contemplating their first step into the social sphere, or that are already down that path but unsure of their progress:
Start with core values and beliefs. Any effort to weigh into the bigger social issues must be grounded in a set of deeply held values and beliefs. The worst thing a brand can do is to jump on the  bandwagon of an issue that is hot but not sincerely meaningful to the company or its leadership. Savvy consumers will quickly sniff out a phony purpose and the brand will suffer. What issues genuinely motivate the company’s leaders? Its employees? What was the gleam in the eye of the founder? Where does the business model intersect with social concerns, such as sustainable supply chain, diversity, health care, or others? For this work, it’s always worth re-watching Simon Sinek’s inspiring Ted Talk, “Start with Why”.
Assess your risk profile. When wading into the arena of social purpose, there is a spectrum of choices: from a generally uncontroversial purpose (e.g. real beauty) to a sharper, more current issue (e.g. voter registration) to a polar position on a hot topic (e.g. opposing Trump’s immigration policy). As you move along the spectrum, you increase both the likelihood of resonating powerfully with people who agree, along with the risk of alienating those who don’t. Be sure to align with leadership, board and other stakeholders as to where you’re ready to land, as you don’t want second-guessing and finger-pointing in the event of any backlash.
Pick a focused, credible issue. Resist the temptation to take on overly broad, ill-defined problems. Instead set your sights on a concern that is clear and defined. A fuzzy mash-up of social strife set Pepsi up for failure, whereas Frito-Lay more successfully zeroed in on voter registration among young people. Make sure there is an appropriate and credible role for your brand in your chosen issue. To the point of walking and chewing gum, the challenge is to find that golden intersection of issues that are meaningful to society and relevant to your brand. Heineken took on the lack of civil dialogue amidst conflict and credibly showed people discussing their differences over a beer.

Get the right guidance. The meaningful issues that make up brand purpose are fraught with nuances and pitfalls that can trip up well-meaning brands and unleash indignation. Shades of word choice and imagery can trigger powerful unintended reactions. Even the much-lauded Dove experienced this backlash from an online ad that showed an African-American woman pulling off a brown t-shirt to reveal a white woman in a white shirt underneath. Bring in voices that can represent those most affected by the concerns you’re addressing.
For a private sector company to take on the challenge of making society better, a good dose of courage and intestinal fortitude are required. By issuing both permission and a mandate to play a broader societal role, Larry Fink has hopefully provided CEOs with that last push needed to step up to the challenge.

Peter Horst is a Fortune 500 CMO and Founder of CMO Inc., a marketing consultancy. He is also the author of the bestseller, "Marketing in the #FakeNews Era." Join the conversation @PeterHorst.

I've built iconic brands and led marketing teams at Fortune 500 companies like Capital One, General Mills, TD Ameritrade, and most recently at Hershey, where I was the Global CMO. During my 30 years working across B2C and B2B products, services, and technologies, I’ve create...
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AT&T, Accenture Join Forces to Transform AT&T Consumer Sales and Customer Care

Pete BennettOctober 13, 2019Accenture, Antitrust Division, AT&T, Big Tech, FCC, SBCGlobal No comments

AT&T, Accenture Join Forces to Transform AT&T Consumer Sales and Customer Care

AT&T, Accenture Join Forces to Transform AT&T Consumer Sales and Customer Care

Firms sign agreement to creatively enhance sales and care capability serving nearly 60 million consumers
NEW YORK – Jan. 15, 2002 – AT&T (NYSE: T) and Accenture (NYSE: ACN) today announced an innovative, multi-billion-dollar agreement in which the firms will team to transform AT&T Consumer’s long distance sales and customer care operation. The “co-sourcing” agreement, which calls for AT&T to spend about $2.6 billion over five years, combines the strengths of both companies, each of which will contribute to the management, staffing, technology and culture of the operation.
Under terms of the agreement, AT&T Consumer will continue to be responsible for establishing strategic business direction, defining marketing strategies and designing product offerings. Accenture will be responsible for providing new technology development and ongoing management direction for the transformation of AT&T Consumer’s long distance sales and customer care operation.
“This is a terrific business opportunity for both companies and a positive development for consumers, employees and shareowners,” said Betsy Bernard, AT&T Consumer president and chief executive officer. “This agreement will enable us to continue to deliver the world-class customer care consumers rightly expect from AT&T, while at the same time transform our business to dramatically increase our operational efficiency and significantly reduce costs.”
As part of the agreement, AT&T will provide the vast majority of employees for the “co-sourced” operation. These people will remain on the AT&T payroll, collecting the same AT&T salary and benefits they currently enjoy, and most will continue to perform the same work they do today while reporting to their current AT&T supervisor or manager. Going forward, these costs will become part of the “co-sourced” agreement.
Accenture, in turn, will provide personnel who will help lead the transformation and implement technology and process improvements. Specifically, Accenture will be responsible for deploying innovative new technology to transform AT&T Consumer’s customer care computer and systems infrastructure to enrich AT&T’s interactions with its customers. Accenture also will deliver innovative training and performance management techniques that, in the end, will result in AT&T’s customer care representatives having the leading-edge tools and information they need to serve customers quickly and efficiently for years to come.
The “co-sourced” operation will be led by Bill Stake, currently vice president for AT&T Consumer’s sales and customer care organization.
There will be no immediate change in the ways customers interact with AT&T Consumer. And there are long-term benefits designed into the agreement to enhance customer care and build on AT&T’s tradition of world-class customer service.
Both companies said that today’s agreement also is expected to result in significant savings for AT&T. Specifically, AT&T Consumer said the “co-sourced” operation will enable the company to improve productivity and flexibility while reducing sales and customer care costs by more than half over the life of the agreement.
“AT&T and Accenture are transforming an award-winning sales and customer care team by merging the experience and skills of both organizations,” said Joe Forehand, Accenture chairman and CEO. “This, combined with state-of-the-art technology, will enable AT&T Consumer to serve its customers more quickly and efficiently than ever before.”
Bernard said today’s announcement stemmed from AT&T Consumer’s strategic imperatives to manage the business for cash while transforming its service-delivery operation, even as it explores new opportunities for growth while preparing to become a tracking stock later this year. She emphasized that the company will benefit by having an even clearer expectation of its sales and customer care costs since they’re clearly articulated in the agreement with Accenture.
Bernard said the agreement includes strong performance metrics to ensure the “co-sourced” operation meets quality standards consistent with AT&T’s. The agreement also includes upside opportunities for Accenture and AT&T if the “co-sourced” operation surpasses certain targets, and the ability for AT&T to earn service credits from Accenture if the “co-sourced” operation misses certain targets.
Both companies said the agreement is effective immediately.
About AT&T
AT&T (www.att.com) is among the world’s premier voice, video and data communications companies, serving consumers, businesses and government. Backed by the research and development capabilities of AT&T Labs, the company runs the world’s largest, most sophisticated communications network and is the largest cable operator in the U.S. The company is a leading supplier of data and Internet services for businesses and offers outsourcing, consulting and networking-integration to large businesses.
About Accenture
Accenture is the world’s leading management consulting and technology services organization. Through its network of businesses approach — in which the company enhances its consulting and outsourcing expertise through alliances, affiliated companies and other capabilities — Accenture delivers innovations that help clients across all industries quickly realize their visions. With more than 75,000 people in 47 countries, the company generated net revenues of $11.44 billion for the fiscal year ended August 31, 2001. Its home page is www.accenture.com.
Editor’s note: NEWS BRIEFING CONFERENCE CALL
AT&T and Accenture will hold a news briefing conference call at 1:30 p.m. (Eastern time) today with Betsy Bernard, AT&T Consumer president and chief executive officer, and Joe Forehand, Accenture chairman and chief executive officer. The number for today’s briefing is 1-800-288-8961 (U.S.) or 1-612-288-0337 (international). No access code is required. Trouble number: 1-866-892-1640 (U.S.) and 1-612-334-6983 (international). A replay of the news conference will be available for 24 hours beginning this afternoon at 3:00 p.m. (Eastern time) at 1-800-475-6701, access code 623652 (U.S.), or 1-320-365-3844, access code 623652 (international).
The foregoing are "forward-looking statements" which are based on management’s beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside AT&T’s control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of AT&T.

This press release contains forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and other factors, including those discussed in the Accenture Annual Report on Form 10-K for the fiscal year ended August 31, 2001 filed with the Securities and Exchange Commission. Accenture undertakes no obligation to update or revise any forward-looking statements.

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“Big mistake”: Heads are rolling at AT&T over payments to Michael Cohen

Pete BennettOctober 13, 20199/11, Antitrust Division, AT&T, President Trump, SBCGlobal, SEC, Terrorism, Whistleblower No comments

Hello, world!

If you feel so bad why can't you pay Pete Bennett for services rendered between June 2001 and October 2001. Are you afraid AT&T might be liable for cost related to 9/11?






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“Big mistake”: Heads are rolling at AT&T over payments to Michael Cohen



By Max de HaldevangMay 11, 2018
AT&T CEO Randall Stephenson didn’t mince his words in a memo to staff: ”Our reputation has been damaged. There is no other way to say it—AT&T hiring Michael Cohen as a political consultant was a big mistake,” he wrote, according to a memo obtained by CNBC.
Top executive Bob Quinn is leaving the company over the decision to pay $600,000 to president Donald Trump’s personal lawyer. Stephenson framed the departure as Quinn “retiring,” though the Wall Street Journal reports (paywall) he is being ousted.
The telecoms giant funneled the money to Cohen through the same shell company used to pay hush money to Trump’s alleged former partner Stormy Daniels. Stephenson writes that the payment was a “serious misjudgment,” adding that the “vetting process clearly failed.”
Read the statement in full:
All AT&T employees worldwide Team, Our company has been in the headlines for all the wrong reasons these last few days and our reputation has been damaged. There is no other way to say it – AT&T hiring Michael Cohen as a political consultant was a big mistake.
To be clear, everything we did was done according to the law and entirely legitimate. But the fact is, our past association with Cohen was a serious misjudgment. In this instance, our Washington D.C. team’s vetting process clearly failed, and I take responsibility for that.
Here is more information on this issue, if you’re interested. For the foreseeable future, the External & Legislative Affairs (E&LA) group will report to our General Counsel David McAtee. Bob Quinn, Senior Executive Vice President – E&LA, will be retiring. David’s number one priority is to ensure every one of the individuals and firms we use in the political arena are people who share our high standards and who we would be proud to have associated with AT&T.
To all of you who work tirelessly every day to serve customers and represent the brand proudly, thank you. My personal commitment to you is – we will do better.
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FBI baffled over wave of nighttime fiber-optic cable vandalism

Pete BennettSeptember 16, 2019AT&T, Cyberterrorism, Fiber Vandalism, Infrastructure, Sabotage, Telecommunications No comments

Connecting the AT&T Fiber Vandalism to 9/11 and PG&E San Bruno, Metca
AT&T Fiber Attacks - Walnut Creek HeadEnd Locust Street 


The vexing incidents of attacks involving telecommunications, pipelines, fiber, forest lands, commercial/industrial structures, vehicles, trucks, rail and refineries extremely concerning when adding in over 20,000 pages of stolen PG&E documents connected to Pete Bennett during his 2011 arrest in Walnut Creek CA.

A collection of articles documenting fiber sabotage events, not vandalism but sabotage covering economic, banking, public services and in the bay area has the capability to turn the local economy upside down.

   FBI baffled over wave of nighttime fiber-optic cable vandalism ...



https://arstechnica.com › tech-policy › 2015/06 › fbi-baffled-over-wave-of...


Jun 16, 2015 - FBI baffled over wave of nighttime fiber-optic cable vandalism ... AT&T fiber-optic cables were cut and a sniper's bullets knocked out 17 ...

A year later, sabotage of key fiber optic cables remains a ...
https://www.mercurynews.com › 2010/04/07 › a-year-later-sabotage-of-ke...

Apr 7, 2010 - An AT&T construction splicer Roger Florendo walks by the trailer used to splice the fiber optic lines that were cut along Monterey Highway near ...

Fiber optic cables in California sabotaged 11 times, AT&T ...
https://www.rt.com › USA news

Sep 16, 2015 - FBI agents in California are investigating the cutting of two AT&T fiber optic cables earlier this week – at least the 11th such attack in a year. ... The attack caused internet service to be disconnected, and crews were still working to restore the service on Wednesday.

Cable Sabotage Cripples Internet for Parts of Silicon Valley ...
https://www.wired.com › 2009/04 › cable-sabotage

Apr 9, 2009 - Deliberate sabotage is being blamed for a sizable internet and ... right-of-way in San Jose, climbed down and cut four AT&T fiber optic cables.


SSSSDDDD
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