Breaking Bell | Stuck in a Quagmire | 3

Business Movers

Wondery

History, Business, Entrepreneurship

4.8 • 1.5K Ratings

🗓️ 10 July 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

AT&T bosses throw everything at the wall in the hope of getting a federal antitrust lawsuit dismissed. But as the case finally reaches court, the lawyers and politicians going up against AT&T prove to be unreliable negotiators.

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Transcript

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0:00.0	Want to get more from business movers?
0:02.2	Subscribe to Wondry Plus for early access to new episodes,
0:05.7	ad-free listening, and exclusive content you can't find anywhere else.
0:09.6	Join Wondery Plus in the Wondery app or on Apple Podcasts.
0:14.3	Wonderly.
0:15.0	The Wondry! It's February 23, 1981, at the Madison Hotel in Washington, D.C.
0:33.7	56-year-old AT&T General Counsel Howard Treanins drops his briefcase on the floor and flops onto the bed.
0:41.3	It's only mid-morning, but Howard's already had an early start.
0:45.3	He's flown into Washington to go over papers after weeks of delicate negotiations with lawyers from the Department of Justice.
0:51.3	For the last seven years, AT&T has been facing scrutiny for potential
0:56.0	antitrust violations. But recently, the two sides came together and agreed to a deal. Now Howard's
1:02.3	looking forward to finally bringing the messy situation to an end. After glancing at his watch,
1:07.8	Howard leans across the bed, picks up the telephone, and dials the number for his
1:11.8	counterpart at the Department of Justice. Hello, this is Sanford Litback. Sandy, it's Howard. Oh, hey Howard. I was
1:19.0	about to call you. I just got into my hotel. I'll need a few minutes to clean up before I head
1:23.5	over for our meeting. Just wanted to give you a heads up in case I'm a little bit late. Well, about the meeting. Oh, please don't tell me we need to reschedule. You won't believe what time I had to get up this morning.
1:33.5	Well, no, we're not rescheduling. There's not going to be a meeting. We're pulling the deal.
1:38.8	What? What do you mean, Sandy? I mean, we've given up so much to make this work. I understand that, Howard. I really do.
1:45.4	So why are you doing this when we're so close to the finish line? We had an agreement.
1:49.2	Why are you screwing us over again?
1:51.5	Look, Howard, I understand how you could be frustrated and angry.
1:54.4	Yeah, I am.
	...

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