AT&T has shrinking customer base, employees, revenues etc..
American Economy has lowest unemployment 3.5%, wage growth 3.1%, adding jobs 266,000 in November, highest stock market, less regulations etc..
Poor Leadership juxtaposed Great Leadership - The report card is very evident AT&T needs a change in Leadership including the Board
Bargained lay-off announcement today vs the growing economy
Your anger is misguided, CWA is the union of technicians and other craft positions that work for AT&T management. They don't make any of the decisions related to how the company spends or where they install service.
The CWA would love for you to have our service. More customers means a healthier company & stability for all employees. The recent billions is for the exclusive first net cell network for first responders.
You anger needs to be directed at the CEO, C-suite and Board members. They are the decision makers, CWA just implements their plans.
@3ciy, The government gave ATT $1B a year for the last four years to provide rural broadband, and I still don't have DSL at my farm. Wasnt the CWA paid to install it? What did they do with my tax money instead of building out rural broadband?
Don’t forget the large salary & bonus increases for the C-Suite. The CWA didn’t make poor decisions to lose billions on companies and way over pay at premium prices. CWA didn’t lose millions of customers or layoff, rebadge & off-shore jobs. CWA didn’t try to force feed the customer something they didn’t ask for and not listen to their wants & needs.
Good try Randy to deflect even my kid knows on who’s doorsteps the poor decisions lay.
Maybe if AT&T had used the Billions of Dollars that the government gave them for building a national broadband network to, you know, build a national broadband network instead of paying extarvagant salaries and benefits to the CWA we wouldn't be in this position!
@1uau
"In contrast, the American economy assisted by the current administration’s policies has soared..."
It seems the chief policy is to run up the deficits and use $1T/year of borrowed money to rev up the economy. That translates to about $85B/month. The Federal Reserve is printing $60B/month to purchase Treasuries and put these treasuries on the books of the Fed. The point of removing the treasuries from the debt markets and placing them on the books of the Fed is expressly to cause the interest rates in the debt markets to resolve to a lower rate. That is the new "capitalism", federal government manipulation of the debt markets. That's why I own AT&T stock ─ can't generate income on debt instruments with all this government manipulation of markets.
Keep an eye on this chart. https://fred.stlouisfed.org/series/WALCL
Quantitative easing is supposed to be a policy for sick economies. So, why is the U.S. doing it now? I don't know if the purpose is to create a stock market asset bubble, but that is certainly the effect.
Not having Friends to watch doesn’t change the fact that customers want fast reliable internet in their home & businesses. 5G may be the future but we are too far away from the cobbled together, pie in the sky, full coverage cell network. Fiber is here and is a viable system for decades to come.
AT&T should have a two pronged facility network. Finish building out the fiber network while continuing to develop the 5G system and build it out. 5G has various issues right now including, distance and penetration thru trees and walls etc.. there is the MM wave and a middle wave each have their limitations, one is distance the other is speed. When you see a true coverage map, you will understand.
Actually starting in Jan they will no longer be able to watch Friends on Netflix.
It's a lack of service leadership. every customer I meet begs for faster internet speeds. Where workers skillfully doing what they enjoy with a reasonable degree of autonomy intersects with the public's needs/ wants/ demands is where we need to focus. Instead, Randy & Stankey are trying to arrogantly force-feed the public what THEY want rather than meeting customer's realistic needs. We have beaucoup experience in network infrastructure, we have zero experience in media/content. Customer's want a 1490 or 1550 nm laser coming into their homes, they can watch Friends on Netflix.
AT&T’s leadership gets the nod for everything they have wanted to try and look at the results. Loss of billions of dollars , millions of customers, layoffs, off-shoring, rebadging. High skilled, dedicated & knowledgeable people let go while sycophants & nepotism thrive. Have managers over organizations that don’t have any experience or education for the position.
In contrast, the American economy assisted by the current administration’s policies has soared despite all the negative pushback by the state including most of the media. The supposed experts have been wrong time & time again. Yes, there will eventually be a pullback/recession and they will crow how right they were. A blind squirrel finds a nut every now and then.
Markets go thru cycles & I’m riding this one until it stops, my 401k has been rocketing this year (nearly 25%). AT&T won’t start trending upward until there is a change in C-suite & Board and maybe they can start leading again.
I’m excited to see the return of companies and jobs in our country. We have a ways to go but happy to see most everyone has a chance for a job or advancement. Hopefully AT&T can correct their mistakes & join this booming economy.
The stock isn't up because of Elliott. It's up because of the Federal Reserve reversing themselves on interest rates Dec 2018, whereupon I said the stock was a buy at $30. Vanguard and Blackrock came in at around $32. As the Fed continues to lower interest rates, people are gravitating to the stock market in search of yield. Elliott came in around $34, but at that point, the stock was already on a trajectory upwards.
I pay attention to the Federal Reserve and the wireless. I'm expecting the streaming stuff to bomb. If it doesn't the stock goes into the 40s. If it does bomb, the stock stays where it is, because of that nice dividend. Elliott only blabbered about stuff that everyone knew needed to be done anyhow.
The one other thing I'm looking at is this 2020 and the turning off of wireline telephony. It doesn't make money anymore and Frontier will prove it 1st quarter 2020 if Fairpoint wasn't enough proof already. The sooner that AT&T can jettison this drag on earnings, the better.
Here's what Fairpoint had to say: "The complaint alleges that Verizon lured FairPoint into the deal and dealt it a bad hand, resulting in FairPoint buying “inferior assets that had no future.”" That describes the copper plant to a T. The trouble for AT&T is, they're not going to be able to find another Fairpoint to dump the copper plant onto.
AT&T is a piece of sh– company that has focused for as long as I can remember on a– kissing between leaders and promoting and hiring people with no reasonable basis. Consider Melissa Arnoldi, the piece of sh– accountant who screwed up TechDev even worse than it already was and was then put over ATO. Really? This stupid human being doesn't know anything about technology and was eventually canned for going into the boardroom and never having any answers. All she could do was to ask other people what they thought. After the third time, the board said it was time to go. The problem is that we are surrounded by supposed leaders who literally have no experience in the area they are supposed to lead. No wonder the company can't perform. The stock market has tripled since 2000 and AT&T is barely up 50%. That should speak for itself. One stupid thing after another like pissing away $8B on T-Mobile and id–tic purchases like DTV. And who do we have to blame for that?..... Stankey. id–t. And so what do you do with an id–t? That's right! Promote him so he can do it again! I seriously think we could fire the entire leadership and reach down into the ranks and promote the people whose teams declare them the most capable and we would be so much better off.
The main reason the stock is up is because Elliot vulture fund took a stake in the company. Prior to their input the stock had been a dog for years, only buoyed by a safe dividend. That has been put in jeopardy by the managements team over leveraging the company for assets that were at their peak.
Investors see a hollowing out of the company and near term metrics to be met by selling of assets, off-shoring, layoffs, rebadging. Thus the run up of stock price. There are plenty of examples in the business world, the buzzards are circling.
T stock is up 42% ytd. That’s with the dividend.
Recessions are mostly based on perception. If you get enough fools believing, paranoia kicks in and it happens, unless you are aware of a bubble ready to burst creating a financial crisis.
Someone waved a magic wand, 54,000 manufacturing jobs in November. Time for Randy & the C-suite to move on and let someone else take the wand.
To all who are leaving the company either by choice, layoff, rebadged.
I wish the best for you and yours, hopeful this great economy will offer you a better opportunity. Peace and Blessings this Christmas/Holiday season!
@ qrk, I agree, first time in 12 years that my 401k has seen such an increase. This economy is great!
Hopefully AT&T can get back off the mat and back to being a great company again.
Correction from last post. My 401k is up 24.80 %, I haven’t looked in a few weeks. Wow! What a blessing!
My 401k is up 22.4 % this year. Real numbers matter, thanks economy! Closer to my retirement goals
This is a political ad for id–ts. The economy isn't roaring for the majority of T's customers and almost half the households do not own stock.
Prett weird isn’t it. Att never seems to have any money anymore.
It’s a testament on how inept our leadership is that in one of the most greedy, unregulated, corruption prone economies under this administration T hasn’t or rather is unable to take advantage of the situation. It’s quite pathetic and investors should have tossed the id–ts atop a long time ago.
Let’s list the things that should have kept us from being where we are right now.
That’s just some of the things off the top of my head and the only thing raising the stick price despite all that is Elliot Management's moves. Now imagine T in a regulated scenario where non of the listed has happened in the past 3 years. It’s f—ing scary.
No matter who leads AT&T, old technologies are dead. During the holidays, I'm watching people making FaceTime video calls, and between that and VoLTE, landline telephone is indeed dead. And DSL is going to be dead in 10 years or less, replaced by Fiber or wireless internet. And the network is being automated, resulting in less jobs.
These jobs aren't coming back any more than switchboard operator is coming back.
The current Leadership & Board’s dismal record doesn’t imbue confidence. I hope there is a change of both or use an outside entity to search for the next CEO that can get the company soaring again.
There needs to be a change from the toxic, top down micro-management, big data, nepotism style. The company needs to start treating employees as assets and not a liability. The future depends on it because younger generations aren’t going to make a career with AT&T. There isn’t much of a work/life balance.
AT&T just tends to stay ahead of the economy. Don't let those jobs number fool you. They are never substantiated, and this economy is only temporary. History will repeat itself. AT&T uses a somewhat realistic and fact based view of the business, as they should.
You Sir/Ma’am are lacking in candor when you mention leadership when addressing C-suite & Board
Darth Sidious
R2D2
Chewbacca