Commentary: Why At&T Needs To Bulk Down

AT&T Chairman C. Michael Armstrong made a startling revelation at the Oct. 3 Goldman, Sachs & Co. communications conference. No, he had nothing to say about the company's ongoing talks to merge parts of its business with Nextel Communications Inc. and British Telecommunications. And he didn't disclose any plans to spin off AT&T's ailing consumer long-distance unit.

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