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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: jhild who wrote (17072)	8/13/1998 3:00:00 PM
From: Scrapps	Read Replies (1) \| Respond to of 22053

FCC Says Bell Companies Lose Lots Of Equipment-Post August 13, 1998 10:06am Reuters WASHINGTON (Reuters) - A preliminary audit by the Federal Communications Commission has found that the regional Bell telephone companies cannot locate an estimated $5 billion worth of communications equipment that they claim on their accounting books, the Washington Post reported today. The newspaper, quoting sources familiar with the investigation, said the audit's findings would lend support to allegations by consumer groups that the country's big local phone companies routinely inflate reports of their costs to justify higher rates for consumers. Bell company officials disputed the accuracy of the FCC study, saying the two sides had different definitions of ''missing.'' ''Their audit will say 10 percent of the equipment is missing'' in the category that was surveyed, one company official told the Post. ''We will contend that about 3 percent is missing,'' the official added, suggesting that amount would be reasonable given the size of the networks and constant reshuffling of equipment. One Democratic congressional source said lawmakers would argue that any changes in the accounting books should result in dollar-for-dollar reductions in phone rates and connection Source: Reuters Nawwwww...they'd never...would they?