JAMES E. OLSON’S BRIEF REIGN AT AT

Sept. 1, 1986--Olson becomes American Telephone & Telegraph chairman.

Sept. 18--Asks senior managers to trim their management staffs as part of a “new, hard look” at the company’s overall costs, using cash incentives to induce early retirements.

November--Completes plans to recast AT&T;, an effort calling for the blending of the company’s computer operations and telecommunications network services.

Dec. 18--Announces the paring of 27,400 jobs over the following year and a $3.2-billion writeoff to cover costs of early retirements, plant closures, consolidations and depreciation of aging telecommunications gear.

Jan. 29, 1987--Reports 1986 earnings of $139 million, off 91% from the year before.

Jan. 6, 1988--Announces plans to acquire a stake in Sun Microsystems, a move apparently intended to improve performance in the computer business.

Jan. 27--Hails 1987 as AT&T;’s “breakthrough year” as earnings reach a record $2.04 billion, benefiting from a strong fourth quarter and $1 billion in annual savings from the cost-cutting programs.

Feb. 24--Predicts computer operations will be profitable by 1990.

March 22--Olson has a malignancy removed from his colon, and President Robert E. Allen takes over as acting chairman.