TECHNOLOGY & TELECOMMUNICATIONS
<i> Times Staff and Wire Reports</i>
GTE to Take 4th-Quarter Charge for Accounting Change: The Stamford, Conn.-based firm said the $4.7-billion charge will be related to a change in the way it accounts for depreciation of its plant and equipment. The charge, which amounts to $4.83 a share, will result in a loss for the quarter and for the year. In 1994, GTE Corp. posted a profit from operations of $2.29 billion, or $2.38 a share, on sales of $19.9 billion. The charge makes GTE the eighth major local phone company to write down the value of its equipment, allowing for faster introduction of new technology. The move by phone companies to take such charges arises both from a changing regulatory environment and the appearance of new competitors for local phone service.
