Word: telecoms
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...reality, there's not much left of the Comcast ranch to bet. Roberts and his father Ralph, 77, who own 7% of Comcast stock, have spent billions building up a collection of programming and telecom services. The list includes 57% of QVC (home shopping); a 68.8% piece of E! Entertainment (programming); the N.B.A.'s Philadelphia 76ers and the N.H.L.'s Flyers (more programming); a 20% stake in Teleport Communications Group (business telephone service); and a 15% position in Sprint Spectrum (cellular telephones...
...muscle made it possible for others to build competing services. But it left some 3 million AT&T shareholders vulnerable. Suddenly gone was a quintessential widow's and orphan's stock. In its place was a smattering of shares of eight different companies, all entering a brave new telecom world that promised upheaval and risk, not safety. The bust-up, though, has proved a resounding success for investors who simply did nothing. One hundred shares of AT&T the day before the court-ordered break-up was worth $6,052. Anyone who held on to those shares, along with...
...carriers back into its fold. It's a short step from there to continue to buy. Might it be a good thing? Well, maybe. Global competition is a reality. It may just be that one huge American phone company is what it will take to match wits with British Telecom and Nippon Telephone in the year 2525, if man is still alive. SBC brings proven phone-company management to the party, which might help sell the deal. What we know for sure, though, is that in the '90s every Baby Bell stock has outperformed AT&T. I'll take spin...
...French, for example, have siphoned the entire pension fund of state-owned France-Telecom into the national treasury in order to bring down the deficit. In Germany, Kohl has plunged into a furious fight with the stick-to-the-rules Bundesbank by moving to revalue the country's gold reserves closer to a "market" price to add $10 billion to the federal coffers. The Bundesbank warns that such a trick could undermine "the credibility and stability" of the euro...
...proud of his record: "In the past three years, this commission has put the ball in the net more often than not," he said. "We have completely rewritten the rules for all five lanes of the information highway: telephony, wireless, satellite, cable, and broadcasting." The sweeping 1996 telecom reform law, which some say has yet to bring any major changes to the industry, allowed cable and telephone companies to move into each others' businesses as well as deregulating cable rates and making it easier for media companies to own more outlets. Tech watchers viewed the announcement with mixed feelings. While...