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Sorry to drop in without an invitation, but I absolutely agree that Michael Armstrong is important to AT&T. The strategy of selling Skynet to Loral some time ago, and today's announcement of the aviation business sale to IRIDIUM, indicates a long term corporate strategy - but what is it? If I had to guess, it would be that the company is using other firms as "incubators" for businesses T considers relevant to future growth. By creating, via sale, alliances with forward-thinking communications entities such as Loral and IRIDIUM, AT&T is laying the groundwork for a global terrestrial and space-based communications business that will make the old Ma Bell look like the anachronism it is. Stock splits are fun, and one will surely occur if T continues to execute as well as it has, but the real prize will be awarded to shareholders when the canvas Armstrong is painting is unveiled to an appreciative Wall Street. |
