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To: McNabb Brothers who wrote (25732)	12/20/1997 12:31:00 AM
From: B Hewson	Read Replies (1) \| Respond to of 176388

Hank, have you considered T from the long side? It is doing very well. Armstrong is a top-notch executive, formerly from IBM, and ATT is so much like IBM, that he could do for T stock what Gerstner did for IBM stock. Just by cutting the bureaucratic fat he can elevate the stock price. After all, how much top line growth has there been at IBM and yet the stock has gone up 5X? Armstrong is very sharp and is focused on raising the stock price. Plus, it is a big cap, low PE, blue chip, good in this environment. Armstrong will make it happen. Bet he's still smarting from having Akers get rid of him at IBM. Barbara