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CWA Launches Initiatives Against AT&T Breakup
A gathering of 400 local union officers representing CWA members at AT&T focused on the company’s proposed breakup at the Communi-cations and Technologies national leadership conference meeting Dec. 3-7.
CWA has called AT&T’s plan to split into three separate companies shortsighted, with serious, negative consequences for employees, consumers and long-term investors. AT&T should “move forward, not backward,” participants declared in a statement on the restructure.
Until recently, AT&T’s business plan was based on the acquisition of new lines of business, such as broadband and local telephone service, to offer a combination of bundled services to customers, CWA Vice President Jim Irvine said. Now, this bundling approach has been effectively dropped, while competitors are moving forward with fully integrated bundling plans, he said.
Irvine announced that a new CWA website, www.attinsider.com is now online, providing investors, analysts and others with the latest information about the AT&T breakup and how consumers, workers and investors will be affected.
CWA also is continuing to work with major institutional investors and groups who are reviewing their investments in AT&T. A meeting of the Council of Institutional Investors was set to take up the issue of the breakup on Dec. 12 in New York.
CWA also has proposed a shareholder resolution for consideration at next April’s AT&T annual meeting. The resolution recommends that the board of directors adopt a policy requiring two different people to hold the positions of chief executive officer and chairman of the board, to improve corporate governance and performance. Currently, C. Michael Armstrong holds both positions.
CWA has called AT&T’s plan to split into three separate companies shortsighted, with serious, negative consequences for employees, consumers and long-term investors. AT&T should “move forward, not backward,” participants declared in a statement on the restructure.
Until recently, AT&T’s business plan was based on the acquisition of new lines of business, such as broadband and local telephone service, to offer a combination of bundled services to customers, CWA Vice President Jim Irvine said. Now, this bundling approach has been effectively dropped, while competitors are moving forward with fully integrated bundling plans, he said.
Irvine announced that a new CWA website, www.attinsider.com is now online, providing investors, analysts and others with the latest information about the AT&T breakup and how consumers, workers and investors will be affected.
CWA also is continuing to work with major institutional investors and groups who are reviewing their investments in AT&T. A meeting of the Council of Institutional Investors was set to take up the issue of the breakup on Dec. 12 in New York.
CWA also has proposed a shareholder resolution for consideration at next April’s AT&T annual meeting. The resolution recommends that the board of directors adopt a policy requiring two different people to hold the positions of chief executive officer and chairman of the board, to improve corporate governance and performance. Currently, C. Michael Armstrong holds both positions.