That judge really created havoc when he broke up AT&T only to see some of them merge back together.
As for T they have always made money in spite of themselves. I worked for a bank that was processed by NCR when AT&T bought them. A lot of the NCR employees retired on the windfall.
It was a comedy of errors after that. Both T and NCR were in the PC business, I recall they tried merging those 2 divisions under Bell Labs. NCR had the bank processing and ATM divisions and T finally said screw it and spun NCR off again.
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