The Wires Will Cool Off A Bit

To get a preview of how telecommunications will fare in 1991, look at Shearson Lehman Brothers Inc., whose business was sideswiped a year before everyone else's. "For us, cost reduction is a way of life," says John J. Lane, Shearson's director of communications. He is ditching many leased long-distance circuits, ridding branch offices of unnecessary lines, blocking employees from calling on 900 numbers, and poring over phone bills for mistakes. "There's a tremendous amount of error in invoices," Lane says. "It requires a systematic review to make sure we aren't being overcharged."

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