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AT&T, Inc. Message Board

  • contrarianbs contrarianbs Oct 4, 2005 4:50 PM Flag

    Merger

    I heard a rumor that based on the Katrina losses, airline lease losses; VOIP competition and questionable business climate SBC wants to back out of the deal.

    Has anyone heard anything?

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    • ATT Force Management Plan has provisions in it should they be acquired by another comapny. The ATT employees who are laid off may still get the normal layoff package.

      MUGZ_4

    • AT&T's pension fund for craft is fully funded and is for life. If for some reason it is turned over to the government, all I will lose is the health coverage which I expect to lose any way. My cash balance would have had to earn a large income to come close to matching the monthly income. I know several Lucent employees who got an even larger amount and turned it over to money managers who assured them 12% or more. They are now working because most of their money is gone.

    • I dont want to question your math, but serious question here,,,

      I "got retired" from a large company that is also miss managing itself out of existance.

      My cash balance principle would not have been paid back to me for over 16 years, and that was at an annuitization rate of 6.2 percent, and that was in 2001 when rates were alot higher. Your example would imply that ATT was buying annuities that pay well over 12 percent,,,? I figured, and correctly, that taking the money I could at least make the 6.2 percent on it over 16 years, and still have the principle balance to. Now that assumes that you rolled the cash balance into your personal IRA account,,otherwise the whole amount would be considered a taxable event in the year you recieved it.

      Now for the poor souls that thought the party would never end, and need the monthly annuity income to pay the heating oil bills,,now thats another story.

    • Every case is different but when I retired I figured my annuity per year and it it equaled my cash balance after only 9 years and a few months. Since I plan on living a lot longer than that, I took the annuity. IMHO, only one person I know who took the cash, should have. He had medical problems and was not expected to live ten years. He lasted six, just long enough to take care of his wife. She died and he lasted another 3 months. Anyway, good luck in what ever you decide.

    • Thanks for the input.
      I only have 23 years, but I have the age and service to leave with benefits and either a cach balance or monthly annuity for life.

      I've seen SBC's contract. SBC's severence package is capped at 20K, and the retirement/benefit rule is 85years instead of AT&T's 75years. There are some folks at AT&T who will be able to leave with 108 weeks severence as compared to my measly 72 weeks.

      There are some who believe that the present AT&T union contract might be extended, thus buying them more time with the current perks that AT&T offers. Some plan to take their chances and remain.

      My take is even though a contract might be extended, it does not prevent SBC from doing something like eliminating all the jobs in our ORG and moving them to Texas where the majority of their own folks can have the work. ....You never know.

      AT&T workers needs to understand that this is not a merger. It's an acquisition. You never know what the purchasing company will decide to do with the employees who are being 'gobbled-up.' ...After all, I remember AT&T's hostile takeover of NCR and how shabbily those workers were treated. Don't think I want to be subject to any Karma AT&T might receive...LOL!

      I will have to find another job, of course, but finding something else to supplement what AT&T will give me to leave is looking better and better. AT&T has been good to me, while it lasted. (I can even participate in paid non-company-related training like Real Estate, Cosmotology, Medical Billing, Plumbing, etc. while collecting severence pay.)

      In this current economy, I doubt seriously if SBC will "wine-and-dine" it's employees like AT&T did.
      Thanks for the input. I think I'm OUTTA THERE!

    • Yes, larsdsl offered some very practical advice. Your decision should be made based primarily upon cold facts and quantitative advice from a financial planner. You can view this pretty much as a dollar and cents decision. Try not to let this become purely an emotional decision. (Having said that, however, you'll need to put a price tag on what it means to you to leave what is probably a very stressful environment with an uncertain future (AT&T) and to (hopefully) get a new exciting fun-filled job.) Also, don't forget to factor in the probabability that this package you're currently being offered is a limited time offer, after which you'll probably get squat for a severance package.

      Last but not least, be happy that you have a choice (even though it may be a difficult choice). Most people never got a choice.

    • They offered a package to me, I took it and ran. Of course, I was older and had many more years than you do.
      In your case with 23 years, you might want to talk to a couple of financial planners and get some thoughts.
      It is a tough decision with only 23 years. Good luck.

    • Those who are eligible should not WALK.
      They should RUN!!!!!
      You've got a fantastic package coming to you (and I guarantee you that SBC will NOT be offering this type of package to you).

      This can be the start of a new and exciting phase of your life! Seize this fabulous opportunity and never look back!

    • Excuse me Rob, but shouldn't you be concentrating on working your job in customer service? It would seem to me that you are robbing ATT of production hours that they are paying you for. Its people like you that cause others to have work harder and organizations to miss their objectives because you are off playing on a message board. Hopefully ATT Security will finally catch you goofing off and terminate you. Yes they do fire people using the internet for personal reasons. Have you ever even met or worked with Eslembochi? I have and he is very smart, but he has no people skills at all. He manages like a tyrant and moral at ATT Labs is low because many of the jobs are moving to India.

      I doubt you work for ATT and if you do, you should be ashamed of wasting company time on message boards, which could be considered stealing, for which you should be fired.

      MUGZ_4

    • I am neither unemployed nor jealous, secretwhistler. It is just a fact that nobody likes the way Robbie boy comes across. He is somewhat like a pet monkey, ok for a few minutes but after a while very annoying.
      You don't have to worry. Robbie will be working for a different company in a couple of months. SBC will never put up with his bullshit.

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