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Original post made
on Jan 16, 2009
I love how this article was based solely on the Real Estate Market and it's multiple failures. True, it has had a domino affect on the economy, but here's the truth behind AT&T's latest round of announced layoffs -- totaling 13k in additional job losses.
The losses here in California are punitive. Cities are fighting the large terminal boxes required for the U-Verse product, as well as the digging up of their city streets. This means the product is hindered in it's deployment, as well as in it's ability to generate revenue. California is too employee friendly. Too litigious. The result, jobs are being eliminated in California and any replacements are being made in Texas and Georgia.
All this while Randall L Stephenson, who has been has been CEO of AT&T for slightly over one year, makes an estimated $12 million a year. All this while the firm moves their executive offices from San Antonio to Dallas because Randall felt San Antonio wasn't "cosmopolitan" enough.
The one word missing from Dave Walden's "commentary" was GREED.
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