AT&T
The big news for AT&T in 1997 was its revolving door for executives and its lack of progress cracking the local telephone market.
Little-known company President John Walter quit his job during the summer after the carrier's board of directors decided not to promote him to CEO to replace Robert Allen. The episode proved to be an embarrassment for AT&T, which then moved on to an intensive search for Walter's replacement. Knowing that it needed to deliver a high-profile talent, AT&T lured super-executive Michael Armstrong from Hughes Electronics Corp.
Armstrong has a tough job ahead of him. While AT&T continues to grow key businesses, such as frame relay services, the company failed in 1997 to make much progress in the local phone and electronic commerce markets.even as rival carriers strengthened their end-to-end service offerings. AT&T also needs to deliver on its electronic commerce promises.
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