Thread regarding AT&T layoffs

Lead report - Reuters news article

September 6, 2023 7:41 PM UTC
Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Devika Syamnath

The company and Verizon (VZ.N) have faced questions about the cables since the Wall Street Journal reported in July that the telecom firms left behind a network of underground toxic lead cables which might have contaminated water and soil.

"I said early on in this and I'll still say today, we don't believe that there's a public health crisis right now," AT&T CEO John Stankey said at the Goldman Sachs Communacopia + Technology Conference.

The tests, conducted by the likes of the U.S. Environmental Protection Agency and the state of New York, at some of the sites mentioned in the Journal article, including Lake Tahoe, have concluded that there was no threat to public health, he said.

"We'll make adjustments if something suggests that we need to make an adjustment," he said, adding the company was working with regulators on the cables.

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Post ID: @OP+1otGPrhb

9 replies (most recent on top)

Too big to fail... examples from Nortel and WorldCom. Road to disaster starts with a passive board allowing CEOs to go unchecked.

https://www.wbs.ac.uk/news/six-steps-to-failure-lessons-from-worldcom-and-nortel/

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Post ID: @1mni+1otGPrhb

Anyone have a link to the transcript? I think this is stank trying to buy time “we’ll make adjustments if something suggests” - I foresee more articles and that “something” coming to light soon

Agree about the too big to fail, my guess is someone negotiated for the “something” to come out after this

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Post ID: @1vsc+1otGPrhb

ATT is too big to fail ...Vanguard Group Inc.
BlackRock Inc.
Scissortail Wealth Management LLC
Oribel Capital Management LP
Newport Trust Co.
Geode Capital Management LLC
State Street Corp
Morgan Stanley
Spdr S&p 500 Etf Trust
FXAIX - Fidelity 500 Index

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Post ID: @1fuz+1otGPrhb

How can you know for sure if Stankey is lying? His lips are moving. Lies, lies, and more lies!

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Post ID: @yil+1otGPrhb

I wouldn't pay $1 for a share of Stink's sh t

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Post ID: @wqn+1otGPrhb

But all the halfwit mo--ns on this board told me this was going to sink the company?

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Post ID: @zdf+1otGPrhb

All you stock shorts better get out with your loss now, nothing but a steady climb from here.

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Post ID: @dqf+1otGPrhb

Maybe some breathing room, should help stock price.

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Post ID: @pmu+1otGPrhb

This is good news for AT&T, institutional and other investors. If they find a few places of concern in the future, it won’t be the projected multiple billions of clean up cost by the news.

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Post ID: @itp+1otGPrhb

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