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AT&T, Inc. Message Board

  • axzl axzl Nov 17, 2000 6:31 AM Flag

    Are other shareholders as baffled

    by the latest restructuring proposal as I am? It
    appears that T is breaking into four parts of which one
    is AWE. But to get AWE we must trade our T shares to
    get them and then we won't have any claim on the
    other parts of the company. Depending on the ratio of T
    to AWE for the trade, this appears to be the biggest
    screw job yet on T shareholders.

    This is really
    turning into a shell game. First T shareholders were
    promised that AWE shares would be distributed to T
    shareholders until shareholders voted for the AWE tracker and
    now the rules have changed after the fact. Maybe I
    don't understand correctly, but if I do, isn't this a
    fraudulant act by CMA and the BOD on the T

    Will someone smarter than I please explain what they
    think is going on!!!!!!!!!

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    • Remember the movie "Raging Bull". Jake LaMotta
      was the fighter who would not fall down no matter how
      much abuse he took.
      That's how us T longs are right
      now; our brains are scrambled but we still hold on to
      those shares.
      The AWE distribution was a big factor
      in sticking with T but now that turns into a farce.
      Also, Malone has pulled a scam where he got a barrel of
      T shres, sold millions when the price was up and
      now walks away with LMGa the assets of which, I
      thought were owned by the AT&T shareholders.
      One other
      thought from my punhed out head; shouldn't there be a
      shareholder vote on the four-way breakup or can CMA and the
      BOD make the decision without us?
      I'm almost ready
      to take the dive.

    • i think your summary is fair.

      however, i
      think there is one solution:

      if everyone is
      concerend about cma's action, let's just keep an eye out
      for whatever statement he makes concerning his own
      actions, then do as he does.

      i.e. if you can be
      sure he does as he says he is going to do (:>D)

    • It sounds like CMA has been taking lessons frome Gore and company. Change the rules till you get the results you want.

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