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October 13, 1997updated 03 Sep 2016 11:35am

AT&T TO BID FOR HUGHES TO GET ROUND CEO PROBLEM?

By CBR Staff Writer

The Wall Street Journal speculates that AT&T Corp may bid for Hughes Electronics Corp – a unit of General Motors – as a way round the problem it faces picking a new chief executive. The logic is that if it picks vice chairman John Zeglis it will upset major shareholders. But if it overlooks him, he and his chums may storm off in a huff. A successful bid for Hughes would net its dynamic boss C. Michael Armstrong and Zeglis might be persuaded to stay on as heir apparent.

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