I don't know if Stevenson is putting out these blurbs himself for propaganda purposes. He's been an utter disaster for AT&T. Giving away $4 Billion for nothing to T-Mobile on a surety agreement should have got him fired instantly. Another $10 Billion pension shortfall, and the guy's still there! The "owners" ought to have their heads examined.
Well, there are several ways to look at the pension shortfall. You can simply carp about it. On the other hand, if you look around American business it is not unusual. If you really want to puke, look at the funding levels of many, if not most, of the public sector pension funds. If you are an employee, you could and probably should be pleased T is strengthing the pension fund. From an investor standpoint, we came out O.K because the market didn't see it as a significant negative.
He would really gain my respect if he would offer the employees the option of dropping out of the union and using the same payroll deduction to buy AT&T stock. Employee ownership makes a company a really special place to work.