The second is aStructured Short Sale Program (which mirrors a Deed-in-Lieu process),through which Cartus acquires the delinquent borrower's home at marketvalue and immediately deeds the property to the investor. "During the 1980s and 1990s, when the real estate marketexperienced recessions, we supported lenders with similar programs.Currently, we also provide comprehensive short sale counseling and supportto growing numbers of corporate transferees who find themselves 'upsidedown' on their mortgages. Cartus thenmanages and resells the property based on an agreed workout strategy."Cartus has an established track record in the asset recovery business,"said Kelleher. The first is a ShortSale Program, in which Cartus works closely with the borrower to list andmarket each property to a pre-established cost target. "The short sale programs we offer combine our expertise inhome marketing and inventory disposition with our experience in customercounseling and support, which enables us to help the mortgage industryavoid lengthy and expensive foreclosures while facilitating solutions forborrowers whose loans are in default."Cartus Asset Recovery offers two principal programs.

Realogy brands comprise the majority of the Cartus BrokerNetwork, a select group of brokerage firms who market propertiesthroughout the U.S on behalf of Cartus clients. With its access to thescope and expertise of the Cartus Broker Network and each of Realogy'sfranchise systems, Cartus Asset Recovery has the ability to reachborrowers virtually anywhere in the nation."Cartus Asset Recovery draws upon our network strength, our reach, and ourreal estate expertise in a solution that represents a strong opportunityfor the company while directly responding to today's unprecedentedeconomic and market challenges," said Kevin Kelleher, president and CEOof Cartus. Realogy brands handled approximately 1.3 million real estatetransaction sides in 2008 in which it represented either the buyer or theseller. Based ontransaction volume, brokers operating under one of Realogy's franchisebrands represented the buyer or seller in approximately one out of everyfour single-family home sale transactions in the U.S that involved abroker. DANBURY, CT, May 13 (MARKET WIRE) -- Cartus Corporation, the premier provider of global mobility managementand workforce development solutions, today formally announced the launchof its new asset recovery services. The company delivers these servicesthrough Cartus Asset Recovery, a new unit that provides the mortgageindustry with accelerated balance sheet relief and greater net assetrecovery through tested, cost-effective "short sale" programs.

Cartus'short sale programs provide mortgage servicers, insurers and investors analternative to the lengthy, expensive, and often adversarial foreclosureprocess with borrowers whose loans are in default. Cartus estimates thatits services can save approximately 300 days of foreclosure time andbetween $20,000 to $40,000 per loan.Cartus is a unit of Realogy Corporation, whose well-known brands includeBetter Homes and Gardens(R) Real Estate, CENTURY 21(R), ColdwellBanker(R), ERA(R), and Sotheby's International Realty(R). AT&T has a total employee base of about 299,000 people.Shares of AT&T were down 1.6 pct to $25.32 in noon trading on New York Stock Exchange.(Reporting by Sinead Carew; Editing by Tim Dobbyn). NEW YORK (Reuters) - AT&T Inc (T.N) said on Wednesday it had given its "best and final" offer for a labor agreement covering about 9 percent of its employees whose contract has expired.AT&T said the offer to the 27,000 Communications Workers of America members includes pension and wage increases, and keeps 401(k) contribution as well as "above-market health care."A representative of the CWA declined comment on the offer from AT&T because negotiations were still going on.The latest offer from AT&T was to workers in Texas, Missouri, Oklahoma, Kansas and Arkansas.AT&T is currently in discussions with the union for labor contracts covering a total of 80,500 of its employees.