(Thanks to Scott Huffman for this link)
Once upon a time there was a very wise ruler who heeded the counsel of his advisors. In his Kingdom there was a very powerful feudal lord, Lord AT&T, who sported a fancy coat of arms recognized around the world. Lord AT&T was so powerful that he possessed the power of communications for all the land, and this was called a monopoly.
A ruling was ordered by the Ruler's Court of Supreme Advisors that Lord AT&T must divest his holdings and share them among other feudal lords. And so, Lord Ameritech, Lord Bell South, Lord NYNEX, Lord Bell Atlantic, Lord Pacific Bell, Lord Southwestern Bell and Lord US West were bestowed with riches beyond the dreams of avarice. They came to be called the Lords of the Baby Bells.