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Technology Stocks : Harmonic Lightwaves (HLIT) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (2728)	4/22/1999 10:04:00 PM
From: Hiram Walker	Respond to of 4134

Mark, follow up article from CNET. Hey and T loves HLIT,they are doing almost ALL of the rebuilds on TCOMA. I love Mike,he is my favorite CEO(until he drops HLIT). news.com AT&T: The house that Armstrong rebuilt By John Borland and Corey Grice Staff Writers, CNET News.com April 22, 1999, 6:30 p.m. PT news analysis Just a year and half after taking the reins at AT&T, chief executive C. Michael Armstrong is wasting no time trying to reshape the once-lumbering phone giant into a broadband superpower that acts in Internet time. Today's surprise $62 billion bid for cable company MediaOne is just the latest example of Armstrong's ambitions. In bidding for MediaOne, AT&T's chief has muscled his way into the middle of a proposed merger with Comcast, a cable contender that has received a $1 billion investment from Bill Gates' Microsoft. The bid comes just a month after AT&T completed its $55 billion buyout of Tele-Communications Incorporated--a deal that will test the much-touted convergence of voice, video, and Internet services. Armstrong's appetite also has included a bold bid for America Online, which was rebuffed last June. If today's bid for MediaOne is accepted, AT&T will become the nation's largest cable company. But cable television is simply a sidelight--the series of acquisitions and partnerships gives AT&T control of a network that Armstrong hopes to use to corner the market on consumer broadband services. Ambition to spare AT&T's holy grail is a lucrative combination of high-speed Internet service, local and long distance telephone, along with whatever cable video services are available. With his progressive move into the cable market, Armstrong has now brought this goal within reach. Armstrong came on board at AT&T in November 1997, inheriting a telephone behemoth that had been largely ineffective in expanding its traditional long distance market control to new technological fronts. But as the "tentative" bid for AOL showed, Armstrong had the ambition and imagination to match the changing communications landscape that Ma Bell was facing. Rebuffed on his first Internet foray, Armstrong quickly moved to bid on Tele-Communications Incorporated, the Denver-based cable TV company that also controlled @Home, the leading high-speed cable Internet service. Still, Armstrong is betting the future of his company on broadband. "Ever since the Telecommunications Act of 1996 was passed, Americans have been waiting for someone to run another wire to their homes to give them a choice in local phone service and deliver the advanced services they expect in a competitive market,'' Armstrong said in a statement accompanying today's bid. "Our earlier acquisition of Tele-Communications Incorporated and now our proposal for MediaOne Group should leave no doubt that we are serious about doing just that," he said HLIT is gonna kick some cable ass. Tim