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Telecom execs on line for merger bonuses

Article Abstract:

Bell Atlantic CEO Ivan Seidenberg and GTE CEO Charless Lee are expected to receive bonuses once their companies' $52-mil merger deal is finalized. According to the companies' proxy statements, Seidenberg will get $3.8 mil in implementation incentive, in addition to a $10 mil retention bonus if he remains co-CEO until 2004. Lee, on the other hand, will get to receive $4 mil in merger-related bonus and up to $10 mil in long-term incentives. The bonuses will not be the first of a kind that the CEOs will receive in recent years, prompting some critics to oppose the bonuses.

Long Distance Telephone Svc, Management development, Long distance telephone services, Bell Atlantic Corp., GTE Corp.

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Bell rivals gain market share

Article Abstract:

Rivals of Bell telephone companies saw their market share nearly double in 2000, notably in New York and Texas. By the end of 2000, the Bells' rivals controlled 16.4 million phone lines, 8.5% of the US' total, up from 8.3 million lines, or 4.4% in 1999. Sixty percent of their lines serve large and midsize businesses, while their share of residential and small- business customers rose from 4.6% to 2.3%. In Texas their share jumped from 4 to 12%, and by 20% in New York.

Market share

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