JG, understood, only intended to comment that if prospectus clearly states that funds from IPO are to be used to upgrade the equipment to remain competitive, and if those funds instead find their way into longdistance subsidies, then you have fraud... they can always say that such equipmt upgrades would come "down the road eventually", so the fraud claims would be substantiated over time
I was alarmed at the arrogance of Armstrong this morning on CNBC, in the face of early stages of a death spiral
ATT:
- wireless strategy doomed to backwaters, yesterday's technology
- longdistance strategy losing marketshare rapidly, with several competitors gaining consistently, and ATT last to meet lower prices
- local phone strategy over cable wicked wicked suspect, with two-way cable still unproven on that scale, and stories of heavy static and multiple calls heard on same lines
- cable AtHome strategy totally in disarray, all growth squandered, the stock squashed, and widespread stories of failure at installation
I give fat/dumb/arrogant ATT 6-8 years until they are sold off in parcels
/ Jim Willie |
