For every taste and budget, a paperback

The Biggest Company on Earth: A Profile of AT&T, by Sonny Kleinfield. New York: An Owl Book/Holt, Rinehart & Winston. 322 pp. $8.25.

Based on Kleinfield's extensive 1978 New York Times series, this book sums up and offers some guidelines on numerous policy issues surrounding the American Telephone & Telegraph Company. Daily events make this a timely book, even though it was written before the court settlement in which AT&T agreed to divest itself of its local phone companies.