That is called FAILURE. Time to replace, preferably with an outsider. The last thing AT&T needs is another inbred Bell head running the show into the ground.
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Amen, directors worth their salt need to show randy the out door asap. His exit is about 4 years overdue now. Randy is the same guy who ran boy scouts into the ground as board leader there. He's very good at leading century old iconic organizations straight downhill. I could lose the shareholder value he has, for only 1/10th his pay. Adios randy, your time is more than over here. Hopefully you will never lead any large org ever again. Plus, my elderly dad (eagle scout) saw you on tv and said you act very weird for a large company ceo. You've been outsmarted multiple times in big ways, and others have paid the price.
Land Line "copper" is being replaced with fiber overlay. We even provide fiber to our competition cell sites in AT&T territory.
Seeing that AT&T included of an increasingly obsolete landline and long distance business that was and is subjected to government regulation, there is no saying that some other guy, say C. Michael Armstrong, could have done better.
AT&T won't become healthy until they jettison the obsolete landline, if the government lets them. The cell business looks healthy enough. The Direct TV acquisition encompassed a "triple pay" of mobile, fixed wireless internet, and voice, and now, AT&T is finding fixed wireless internet undo-able. That was their plan to become a nation-wide broadband provider.
I'm glad I own Verizon along with T. Bought some T today in a Roth, but I'll dump them if I see partly cloudy skies, as opposed to partly sunny days. But, unlike GE, the dividend isn't under stress, so, I don't put them in the same boat as GE.
I couldn't care less what the stock price was in 2007 - I didn't own them in 2007. I only care where they are now, and where they will be in 3 months.
AT&T needs a CEO who can profitable innovate and show leadership, a CFO who can talk to the market that the market respects, a strategist with a sales/marketing background (Stankey and Donovan were total failures), # of the 4 company CEOs need to be replaced: Stankey ran DTV into the ground and gas no clue how to run a media producing company like TW, Donovan can't turn DTV around and is running wireless into the ground and Verizon is humiliating T, and Lori Lee made her accomplishment when she was born: she's a woman who accomplished nothing.