AT&T reported its loss widened to nearly $1B in the first quarter, blaming the performance on falling long-distance sales, an accounting change and a slide in the value of its investments. The company's revenues continued to slide, especially in its long-distance telephone businesses. ... Long-distance telephone sales continue to be punished by increasing competition from cellular service, e-mail and local telephone carriers ... How, exactly, do you manage to lose a billion dollars in a single quarter? AT&T found a way. | 
