Attention AT&T Shareholders

CWA members who hold AT&T shares are urged to vote against the charter amendment proposed by AT&T management and included in the proxy statement that you will be receiving shortly.

The amendment seeks to change AT&T’s charter to let its massive breakup plan go through by a simple majority — rather than two-thirds — vote at the May 23 shareholder meeting.

The two-thirds provision in the charter is there for a very good reason — to keep management and a few large investors from being able to easily ram through a change as important as a complete dismemberment of the company.

AT&T management’s plan is to break up the company into three separate businesses for wireless, broadband and long distance, and to create separate stock listings for residential and business portions of long distance.

Many institutional and individual investors share CWA’s concern over this reversal of AT&T’s bundled services strategy and are calling for management to come forth with more detailed information about the proposed breakup and its impact on workers, customers and shareholders.

A restructure of this magnitude demands that management be compelled to lay out all the facts and to win a broad consensus of support among its large shareholder base, as the present two-thirds rule requires.

Cast your vote for shareholder rights — vote against the charter amendment on your proxy statement and mail it back right away in the postage-paid envelop that comes with your proxy