Logs6-11 - GreetingLine Logs#6-11 6 The Dish on AT&T's...

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Lauren Zeinstra Logs #6-11 6. The Dish on AT&T’s Satellite Plans For several years now, AT&T has been thinking about creating a satellite-television sector, and now that they have a fairly strong hold on the telephone industry, they’re ready to branch out. Although AT&T stock has been experiencing high stock prices, steady increases, and trading at about 21 times per-share earnings, the price of buying out a television company is rather costly. Between $30 and $40 billion is likely to be spent on the purchase of EchoStar Communications, which has investors and shareholders feeling a little wary. However, with companies like Comcast moving from television services to phone services, and Apple moving from computers to phones, AT&T needs to be thinking about the future and ways to stay ahead in the market. A satellite deal would help AT&T fend off rival cable companies who try to lure in customers with low priced bundles – because AT&T would be able to offer the same thing, allowing them to keep their current customers. AT&T already has an invested interested in EchoStar, as they put $500 million in to the firm in 2003. AT&T really needs to move forward with the idea of purchasing EchoStar and offering a satellite television service if they want to continue doing well in the market. Searcey, Dionne and Cimilluca, Dana (2007, October 24). The Dish on AT&T’s Satellite Plans. The Wall Street Journal pp. C1, C5. 7. In Citi Shake-Up, Broader Troubles When Charles Prince’s, former CEO of Citigroup, four-year tenure ended, the company began its search for a permanent CEO. Although Citigroup remains the largest bank in the country, and one of the largest in the world, Prince failed to reach his goal of uniting the corporation under “One Citi”. This left the corporation with a semi-dysfunctional collection of businesses whose employees often ignore and
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Lauren Zeinstra Logs #6-11 sometimes even compete against each other. Even though Citigroup dropped the Salomon Brothers name it had acquired, some employees still answer the phones by saying “Salomon”. Citibank then started to experience new losses on top of $2.2 billion in trading and mortgage-related write-downs. The corporation was struggling, and needed someone to step up to the plate, and fast. Sir Win Bischoff was appointed at temporary leader of the company, which was quite unexpected. Never the less, he took the company by storm and began creating alliances in London and Europe. Even
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