You've Come a Long Way, Baby

AT&T jumps into the market for linking up computers

American Telephone & Telegraph Co.'s long-awaited subsidiary, Baby Bell, came into the world last week. Some baby. The company, which will be known as American Bell, immediately had 1,000 employees and $59 million in assets from its corporate parent. Unlike AT&T, the offspring will be free of federal regulation and will thus be able to venture into the growing fields of information processing and computers.

American Bell's first offering will thrust it into the thick of one of the newest and fiercest slugging matches in U.S. business. Using its experience in transmitting human voices...

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