AT&T Wireless had a great growth pattern, until management decided
that it was deadly important to become free cash flow positive as soon
as possible, and at all costs.  How do you do that quickly?  Outsource
everyone you can, and fire the rest.  Notice that as cash flow
increased, customer and network service went downhill.  I know I'm
pointing out that the sky is blue, but I think that the management has
been working a long time to make sure that the company was as
attractive as possible to potential buyers.  "Look!  Our costs are so
low, and we're making money!"  They're just lucky that Cingular bit
before the short-term cost savings really started to affect the long
term viability of the company.

Cingular got a good deal; the problems that AWE had are easily fixed:
spend some $ to bring IT back in-house, use the Cingular CRM software
and dump the homebrewed Siebel POS they tried to save money on by
customizing themselves, and use their own network to supplement the
poorly balanced TDMA/GSM network that AWE is struggling to manage on a
shoestring budget.  If they work this consolidation correctly, I think
they're in a great position to have the best coverage and Customer
Service.