edit: apparently a different beast than today's AT&T
edit: apparently a different beast than today's AT&T
The company used to be known as SBC Communications but changed it's name to AT&T after acquiring what was left of AT&T (mostly long-distance phone services) in 2005.
Through a long series of acquisitions AT&T now owns 11/24 Baby Bells.
Sources:
[1]http://en.wikipedia.org/wiki/AT%26T#History
[2]My grandfather worked for AT&T for his entire career and I've involuntarily listened to a minimum of 100 hours of company history throughout my life.
Today's AT&T is not the AT&T of yore. Neither in its technical research, nor in its management.
This is about BIG thinking enabled by the unique org structure. Everything about corporate governance says this is a bad structure. But they still might pull this greatness off!