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January 2, 2003
A: FROM MENTEES ALEXIS K. IN VA, CASSIE C. IN UT, ERIKA G.
IN CA, ERIN R. IN KY, KATHRYN T. IN VA, KELLY V. IN NJ, MAGGIE
K. IN CT, TERESA L. IN KY, TONJA M. IN CA
The respondents answers for the current value of the stock
ranged from zero to $30 million. Here is a bit about the history
of the Bell stock:
2002
On November 18, AT&T completes the spin-off of AT&T
Broadband, which then
merges with Comcast Corporation. AT&T then conducts a
1 for 5 reverse stock
split.
2001
On December 19, AT&T and Comcast Corporation announce
a definitive agreement
to merge AT&T Broadband with Comcast in a $72 billion
transaction which is
expected to close in late 2002.
2001
On November 21, AT&T closes a $10 billion global bond
offering, the second
largest issuance by a United States corporation
2001
On July 9, AT&T completes the split off of AT&T Wireless,
which becomes a
separate, independent company (NYSE: AWE).
2001
On May 25, AT&T completes the acquisition of substantially
all of the assets
of NorthPoint Communications, a provider of high-speed local
data network
services.
2001
On April 18, AT&T announces details of its offer to exchange
shares of AT&T
common stock for shares of AT&T Wireless Group tracking
stock.
2000
On November 30, AT&T and NTT DoCoMo announce the formation
of a strategic
alliance to develop the next generation of mobile multimedia
services. NTT
DoCoMo invests nearly $10 billion for a 16 percent stake in
AT&T Wireless.
2000
On October 25, AT&T announces a strategic restructuring
plan to create a
family of four new AT&T companies. The plan calls for
each of the company's
major business units - AT&T Wireless, AT&T Broadband,
AT&T Business and AT&T
Consumer - to become independent, publicly-held businesses,
ultimately
trading as either a common stock or a tracking stock.
2000
On June 15, AT&T and MediaOne Group announce the completion
of their merger.
AT&T becomes the country's largest cable operator.
2000
On April 27, AT&T announces that AT&T Wireless Group
tracking shares began
trading on the New York Stock Exchange.
1999
On Dec 6, AT&T announces plans to create a new wireless
company, AT&T
Wireless Group, and a new class of AT&T common stock that
will track the
performance of the wireless enterprise.
1999
On April 15, AT&T completes a 3-for-2 stock split, issuing
one additional
share of AT&T common stock for each two shares owned on
March 31, 1999.
1999
On May 3, AT&T acquires Vanguard Cellular, one of the
largest independent
operators of cellular telephone systems in the United States.
1999
On March 9, AT&T acquires Tele-Communications, Inc. (TCI),
the second
largest cable company in the United States. TCI is renamed
AT&T Broadband &
Internet Services.
1998
On July 28, AT&T acquires Teleport Communications Group
(TCG), the largest
alternate provider of local telecommunications service in
the United States.
1995
On September 20, AT&T announces that it is restructuring
into three separate
companies: a services company, retaining the AT&T name;
a products and
systems company (later named Lucent Technologies); and a computer
company
(which reassumes the NCR name). Lucent is spun off on September
30, 1996,
while NCR is spun off on December 31, 1996.
1993
AT&T announces a definitive merger agreement with McCaw
Cellular
Communications Inc, the largest provider of cellular service
in the United
States. The acquisition is later renamed AT&T Wireless.
AT&T completes the
transaction in 1994.
1991
AT&T acquires computer maker NCR Corporation in an attempt
to realize the
synergies it believes inherent in the coming integration of
computing and
communications.
1984
On January 1, the Bell System ceases to exist. In its place
are seven
Regional Bell Operating Companies and a new AT&T that
retains its long
distance telephone, manufacturing, and research and development
operations.
1982
AT&T and the Justice Department agree on tentative terms
for settlement of
an anti-trust suit filed against AT&T in 1974. AT&T
agrees to divest itself
of its local telephone operations. In return, the Justice
department agrees
to lift the restrictions on AT&T activities contained
in the 1956 Consent
Decree. The agreement, once accepted by the court, becomes
known as the
Modification of Final Judgement or MFJ.
1977
In Chicago, AT&T installs the first fiber optic cable
in a commercial
communications system.
1964
On May 28, AT&T completes a 2-for-1 stock split. Shareholders
receive one
additional share for each share owned.
1962
AT&T launches Telstar I, the first active communications
satellite. Telstar
transmits the first live television signal across the Atlantic
Ocean.
1959
On April 24, AT&T completes a 3-for-1 stock split. Shareholders
receive two
additional shares for each share owned.
1956
AT&T opens the first transatlantic telephone cable for
service.
1927
AT&T begins transatlantic telephone service, initially
between the United
States and London. The conversations cross the Atlantic Ocean
via radio. The
initial capacity is one call at a time, at a cost of $75 for
the first three
minutes.
1925
AT&T establishes Bell Telephone Laboratories Inc. as its
research and
development subsidiary.
1913
AT&T settles its first federal anti-trust suit with a
document known as the
Kingsbury Commitment, which establishes AT&T as a government-sanctioned
monopoly. In return, AT&T agrees to divest its controlling
interest in
Western Union, and to allow non-competing independent telephone
companies to
interconnect with the AT&T long distance network.
1899
In a corporate reorganization, American Telephone and Telegraph
acquires the
assets of its parent, American Bell Telephone, and becomes
the parent of the
Bell System.
1894
Alexander Graham Bell's second telephone patent expires, opening
the
telephone industry to competition. Within a decade, over 6,000
companies
enter the telephone business in localities across the country.
1885
The American Telephone and Telegraph Company is formed as
a subsidiary of
then-parent American Bell Telephone Company, with a charter
to build and
operate a national long distance telecommunications network.
1882
The American Bell Telephone Company acquires a majority interest
in the
Western Electric Company, securing a supplier for telephone
equipment.
1877
The Bell Telephone Company, the first AT&T predecessor
company, is formed
and issues stock to its seven original shareowners.
1876
Alexander Graham Bell invents the telephone, for which he
receives two
patents. With the support of two financial backers, Mr. Bell
founds the
company that becomes AT&T.
As for spinoffs from the original Bell Labs, the following
companies were submitted:
AGR.A., American Bell, Ameritech, AT&T, AWE, Bell Atlantic,
Bell Coast Capital, Bell Industries Inc., Bell Microproducts
Inc., Bell Resources Corps, Bell Savings Holding, Bell South,
Cincinnati Bell, LU, MCI, Metropolitan Telephone and Telegraph
Company of New
York, Pacfic Bell, SBC Communications, Inc., SNET, Sprint,
US West, Verizon, World Com, Q (Qwest).
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