Taking AT&T off the DOW would be a cultural shock for millions upon millions of shareholders...I worked for the company for 35 years and recently retired of my own choice when they made an offer at the end of 1994. They were trying to clean house at the time. I was 59 then and would have retired when I reached 62 - I'm now 63.
After I retired from AT&T Microelectronics, I was forced to become a LUCENT retiree after the spin-off because my division became part of LUCENT.
I've been LONG on T for many years and have watched it struggle along, slowly moving up. I've participated in the old stock plan where employees could purchase shares for 85% of the market value, I've purchased it in my 401K and I just recently moved 90% of my holdings inside my 401K to other options, i.e., GIF, European International Fund, and Russell Index fund. I'm playing a wait and see game at the present time.
I'm still holding on to my LUCENT which has rewarded me handsomely as did T with its run-up from April 1997 to its spot a couple of months back. My goals for the stock were met at that time, however, I held on for a little while longer, up until several days after they announced 2nd quarter earnings and the "STREET" started punishing the stock by selling off. That's when I moved 90% to other places.
I'll stay long with LUCENT and sit back and watch to see what happens with the remaining 10% still in my 401K. At the end of this year, whatever T I have remaining inside my 401K will automatically be switched into a money market fund inside my plan, that is, if I don't move it somewhere before December 31, 1998.
I do have other shares outside my retirement plan that I hold privately.
Go T if you can! |
