You Paid How Much For That Logo!?!

By Kristie Borges
|  Wednesday, Jun 17, 2009  |  Updated 12:33 PM EDT
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You Paid How Much For That Logo!?!

AP

A.G.: AT&T charged Connecticut customers millions for the use of its logo on buildings and bills.

How much is a logo worth? AT&T paperwork says $145 million, according to the Attorney General.  That’s how much AT&T apparently charged Connecticut consumers for the use of its logo.

Attorney General Richard Blumenthal has launched an investigation into why AT&T charged the ratepayers for affixing the company’s logo onto Connecticut buildings or bills. The A.G. says the money was funneled to a Nevada affiliate to avoid Connecticut taxes on it.
 
“Pleading poverty, bleeding jobs and then charging $145 million for using its logo is both insult and injury to AT&T’s consumers and Connecticut taxpayers. Consumers would surely rather go without the AT&T logo affixed to Connecticut buildings or bills than pay these unconscionable costs,” said Blumenthal.
 
Blumenthal claims AT&T diverted tens of millions of dollars to Nevada.
 
This practice by AT&T was confirmed by its auditors, Ernst & Young, and an independent audit by Barrington-Wellesley Group made public by the Department of Public Utility Control.
 
No response from AT&T yet.

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