Can Walter Fix At&T?

So far, he's counting on nitty-gritty management changes to anchor a turnaround. Will that satisfy the Street?

In his first 100 days as president and chief operating officer of AT&T, John R. Walter has heard an earful. Customers have complained that the telecom giant is arrogant. Employees have groused that they're bogged down in bureaucracy and politics. And investors have bemoaned strategic blunders that made AT&T a bystander in the greatest bull market in U.S. history.

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