Cramer wants to add AT&T executives to his ‘Wall of Shame’: who else is on the list?

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on May 19, 2021
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  • Jim Cramer tweeted today that he wanted to add the AT&T executives to his ‘Wall of Shame’.
  • He called the WarnerMedia and Discovery merger "final act of one of the dumbest mergers in recent history".
  • In the past, he has added Equifax and General Electric executives to the list.

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CNBC’s Jim Cramer in a tweet earlier today said that he wanted to add the AT&T executives to the ‘Wall of Shame’. Take a look at the tweet below:

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Cramer has been critical of AT&T (NYSE: T) since they announced the merger of their business unit WarnerMedia with Discovery (NASDAQ: DISCA) on Monday. Shares of both AT&T and Discovery are down since the announcement of the merger.

Cramer adds those business executives to the Wall of Shame who he thinks are incompetent and have led to value destruction for the shareholders.

What else did Cramer say on AT&T?

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AT&T acquired Time Warner for $85 billion in 2018 touting the synergies of the combined entity. Now they recently announced the merger between WarnerMedia and Discovery. On the deal, Cramer said:

“It’s not a transformational deal… it’s the final act of one of the dumbest mergers in recent history. The truth is, AT&T made a boneheaded decision and now they’re paying for it, but in corporate America, no one really pays for it, no one’s even allowed to say it, no one’s allowed to admit it.”

He further added:

“Today’s move is a major repudiation of that nonsense. All this talk of synergies and monetizing AT&T’s close relationship with its customers was totally chimerical. To me, this was a tremendous destruction of value.”

Read about the merger of AT&T’s WarnerMedia and Discovery here.

Who else is on the list?

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In the past, Cramer added Equifax Inc. (NYSE: EFX) CEO Richard Smith to the list for his handling of the cyber breach at the firm. At the time, the hack was the fifth-largest in history while putting data of 143 million U.S. consumers at risk.

Cramer has added General Electric Company’s (NYSE: GE) board of directors to the list for signing off on all the poor and value-destroying decisions that the company had been making for some time.

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