In a new offensive, AT&T reassigns Nacchio to fight long-distance rivals

Article Abstract:

AT and T reassigns its Business Communications Services manager Joseph Nacchio to the head position of the residential long-distance business division as part of its strategy to keep customers. Changes in AT and T management have been occurring since July 1993 due to the shift towards multimedia products and services and globalization. Nacchio is expected to respond to the competitive long-distance market with more aggressive marketing. AT and T reassigned its Consumer Communications Services president Merrill Tutton to senior vice president of global strategy, so Nacchio can manage Tutton's former unit and combat the marketing pressure from competitors MCI Communications and Sprint Corp. AT and T insiders attribute Nacchio's new assignment to Pres Robert E. Allen's wish to put AT and T on a marketing offensive.

Electronic computers, Telephone communications, exc. radio, Long distance telephone services, Appointments, resignations and dismissals, Long-distance telephone service, Nacchio, Joseph, Competition, Marketing Strategy, New Appointment

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U.S. and SEC charge 17 in AT&T tip-trading case; gains totalling $2.6 million said to be made on plans of company takeovers

Article Abstract:

The Securities and Exchange Commission and federal prosecutors are charging 17 people in five states with insider trading in a deal that involved AT&T's takeover plans and created profits of $2.6 million. Two former employees of AT&T are being charged with passing information about AT&T's acquisition plans to friends and family who then traded stocks based on the information and then shared their profits with the employees. Both employees are pleading guilty to criminal conspiracy charges and one, Charles Brumfield, is also pleading guilty to charges of perjury after lying to SEC officials. Brumfield obtained confidential information about AT&T's planned acquisition of Teradata Corp, NCR, Paradyne Corp and Digital Microwave and then passed this information to a group of friends and his son.

Illegal Acts (Employee), Cases, Telecommunications services industry, Telecommunications industry, United States. Securities and Exchange Commission, Employee discipline, Stock markets, Stock Market, Court Cases, Lawsuit Litigation

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