The writing is on the wall. Now with the lead situation, responsible or not, class action lawsuits will target T. Faced with already a heavy burden of debt and now potentially 60 billion more to clean up, T is headed towards bankruptcy.
Bankruptcy could absolve T from paying full severance or allow only partial. There may not be any more money left (unless Stanley would like to give you part of his $20 million package).
At least we can revel in Stinky having a really bad Friday.
The don't need bankruptcy to modify or cancel the severance plan. They can modify it any time they wish for any reason. I remember in the SE when mgmt severance was 18 months. Knew this old Bell-head. Good man, smart man, but refused to retire until they offered him 18 months pay to leave. The sev policy dropped to 12 months pay, then under T it was 6 months pay with a 6 week off-payroll notice, and now its only 2 weeks notice.
If AT&T is bought, they could discontinue retiree health benefits. It says retiree benefits can be changed at anytime. There are a lot of people getting health benefits that could be cut off. That would be a big savings to the bottom line.
unless Stanley would like to give you part of his $20 million package
They never do.
At $20 million a year and a subservient BOD Stankey does not have “bad days”!!
AT&T will make the wrong decision on this issue again. They should resolve it promptly. The CEO doesn't care, the way he sees it, kicking the can 10 years from now will be someone else's issue.
The funny part is that by deciding to be self insured, AT&T figured would saving lots of money.
Not really!! Specially when looking at a class action lawsuits down the road with punitive damages..
The bad publicity alone, and trying to recover from it, will cost the company billions.
AT&T knew about the lead, but like other corporations, decided to ignore it the problem.
Now they will have endless litigation for the next decade. From environmental groups to employees.
I’m no big T fan at the moment but this lead cable thing is a nontroversy. It’s a scam for illness payouts to ambulance chasers.
Also the phone company was government mandated to provide phone access everywhere. So whose fault is that??
They can it the dividend lol…and prob should
If the writing was on the wall, our stock price would be like $1