April 18, 2004 |
Few people appreciate the highs and the lows of a competitive telecommunications industry better than Chuck McMinn. For five years, the co-founder and chairman of Covad Communications Group Inc. was hard-pressed to stop Wall Street from throwing money at him to build what grew into the only nationwide high-speed digital-subscriber-line, or DSL, network. After spending $1.3 billion, Covad found itself insolvent in 2001 as its technology-oriented business customers failed by the handfuls.
January 13, 2003 |
Seven years after Congress passed a landmark law restructuring the phone business, hope for the beleaguered telecommunications industry may lie less in federal regulation than in two fast-growing technologies: wireless computer networks and Internet telephony. From behemoths such as AT&T Corp. to start-ups such as TeleSym Inc., the industry is spending hundreds of millions of dollars with the intent of transforming the staid public phone system.
November 25, 2002 |
WorldCom Inc.'s archrivals have set their sights on the fallen telecommunications giant, potentially undermining its financial health as it struggles to emerge from the largest bankruptcy filing of all time. This group of competitors -- which includes Pacific Bell parent SBC Communications Inc. and the other Baby Bell local phone companies -- is lobbying federal regulators for new rules that would require the nation's No.
July 22, 2002 |
WorldCom Inc.'s mammoth bankruptcy filing Sunday could prolong the telecommunications industry's long and painful implosion by dragging teetering companies over the brink with it. More than three dozen telecom firms have already landed in Bankruptcy Court since a crippling combination of overcapacity and sinking demand left the industry struggling to find a way to pay its crushing debts.
July 11, 2002 |
From the living room of his luxurious 10,000-square-foot midtown Manhattan apartment, Francesco Galesi built an empire that earned him a winter villa near Jamaica's Montego Bay, a 12-bedroom oceanfront castle on Long Island and a net worth of more than $400 million that once ranked him halfway up the Forbes 400 list of America's wealthiest. Galesi made his millions in real estate.
July 19, 2002 |
Signs of recovery in the crippled telecommunications industry were nowhere to be found in the latest batch of earnings reports, as several of the sector's biggest players Thursday announced continuing losses and tempered expectations for the future. But much of the bad news was expected, and investors showed their relief by boosting the shares of Sprint Corp., Sprint PCS Group and Level 3 Communications Inc.
November 10, 2004 |
Federal regulators gave a big boost to Internet phone call providers Tuesday by protecting the rapidly growing service from state regulation. The Federal Communications Commission voted 5 to 0 to give Internet telephony companies the sort of relative regulatory freedom enjoyed by the cellphone industry.
May 13, 2004 |
Federal regulators and the Bush administration are increasingly skeptical that negotiations between Baby Bell phone companies and their competitors over access to local networks will succeed. But the Federal Communications Commission and the White House appear to be at odds over how to bring the two sides together before June 15, when a federal appeals court lifts a stay on a ruling that tosses out existing phone competition rules.
December 12, 2003 |
The telecommunications industry didn't seem all that impressed in 1995 when a small New Jersey start-up called VocalTec Communications Inc. developed a way to send ordinary telephone calls over the Internet. Now, phone companies nationwide are heralding Internet telephony as the technology that could kick-start competition and pull the $400-billion telecommunications business out of its years-long slump. Long-distance giant AT&T Corp. and Time Warner Inc.
January 15, 2003 |
The government's chief communications regulator told lawmakers Tuesday that he shares their concerns about growing media consolidation and hinted that he's unlikely to completely eliminate existing broadcast ownership rules, as some have suggested he might. Eager to show that he still has an open mind on the issue, Federal Communications Commission Chairman Michael K.