At&t Shareholders Defeat Proposal

As expected, American Telephone and Telegraph Co. shareholders voted overwhelmingly Wednesday against a proxy proposal put forth by the National Alliance, a neo-Nazi hate group, that would have required the phone company to stop doing business in Israel.

Fully 96 percent of the votes came in against the proposal, according to reports from Chicago, where the company’s annual shareholders meeting took place.

The AT&T board of directors recommended voting against the proposal.

The National Alliance proposal received 4 percent of the shareholders’ 1.09 billion votes, just over the 3 percent required by the Securities and Exchange Commission to get the proposal included in next year’s AT&T proxy statement.

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