When the Sh#t hits the fan

AT&T’s massive loss this evening has been telegraphed since… T-Mobile.When the shit hits the fan

I wrote about this in November (AT&T is going to lose 4 Billion!) and even back in August (AT&T + T-Mobile = Arnaque).

To be honest I’d lost interest. The obvious stupidity of this deal baffled me at the moment, but impotent I moved on. I should have taken note…

Tonight AT&T posted a $6.7 Billion quarterly loss, with margins falling. And considering the collapse of the $39 Billion deal, a humbling experience by any measure, why not spend the earnings-call reassuring your investors? Or even groveling a bit? Mr. Stephenson you might have even tried to be humble. But bashing the FCC?

I’m reminded of Netflix!


Here’s a quote from Reuters:

In his first presentation to investors since the December collapse of his $39 billion bid to buy Deutsche Telekom’s T-Mobile USA , Chief Executive Randall Stephenson spent much of the earnings call criticizing the U.S. Federal Communications Commission for opposing the deal.

The FCC colludes in your partial monopoly, companies with far less firepower would have managed both the deals and the marketing many times better than you have.

Mr. Stephenson, why do you still have your job?