Funny accounting for the last 20 years? I wonder who paid for the network to be completely replaced several times? Any idea how much that costs?
Do you realize AT&T is externally audited every year?
We can joke around a bit right?
You say you AT&T is playing around with funny money.
That's like saying someone said they saw you walk out of a house of ill repute last night. Can't prove it, but it could be....
WWillson,
I think the integrity of GAAP (common set of accounting rules, requirements, and practices) is nothing like it was decades ago. As long as a company has cashflow, they can play with GAAP all they want. It is when a company perverting GAAP can't service the debt is when the house of cards is exposed.
For ATT to spend over one billion dollars for naming rights to a football stadium tells me all I need to know about ATT. Naming rights for a stadium might be a good match for an organization trying to get its name out there- not a match for an already household name deep in debt.
An example you may know is the ballpark former known as Comiskey Park. It is now called
Guaranteed Rate Field. I never heard of Guaranteed Rate Field, so spending for the naming rights seems like a good fit. But ATT paying over one billion dollars for the naming rights to a football stadium is nuts. One of the best organizations in the USA is Berkshire Hathaway. Deepest pockets of any non tech firm in the USA. You don't see BH firms paying for naming rights.
In my observation- ATT is not the organization that was Bell Labs, Ameritech, etc. Those "glory days" are long gone. ATT is a deep in debt organization that works much harder at lobbying governmental agencies than being a corporation that American citizens should be proud of.
We see things very different- but that is ok. I have been wrong many times before, and I may very well be wrong here. But I have yet to see anything that specifies or implies ATT is a great American corporation today, as it was decades ago.