AT&T’s stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.
Let the big three fall. Decentralize them and remove their overreaching control on the networks. All they do is sick money out of our pockets both directly and indirectly.
They are going to use this as an excuse to finally have to get out of providing (POTS) land line service. Expect them to spin off a subsidiary that owns all this old infrastructure, declare bankruptcy, and either get a bail out to repair the cable of they convince the regulators to let them kill off POTS for good.
They’re gonna charge you whatever you’re willing to pay. They don’t run T1 anymore and are just squeezing the blood from the stone before they rip it down and toss it out.
New Street Research estimated that remediation could cost the telecom industry $60 billion
At&T alone had 120 billion in revenue in 2022 which was a bad year for them but God forbid we penalize a corporation, they’re job CREATORS don’t you know?
The losses were spurred by a Wall Street Journal investigation into lead-sheathed cables installed by phone companies across the US many decades ago.
The industry started phasing out lead in the 1950s, but the WSJ said it found evidence of more than 2,000 lead-covered cables and said there “are likely far more throughout the country.”
Fan-fucking-tastic. Y’all excited to bail out the telcos again?
The industry started phasing out lead in the 1950s, but the WSJ said it found evidence of more than 2,000 lead-covered cables and said there “are likely far more throughout the country.”
Fan-fucking-tastic. Y’all excited to bail out the telcos again?
But how can it be that there are still lead-covered cables everywhere? We already paid them billions of dollars in subsidies to rip out the plain old telephone cables in favor of fiber several times now. They would never just pocket those subsidies instead of actually modernizing the network! \s
Typically, the last mile is often not fiber. Telecoms are generally required to continue non-voip land line service. Its one of those regulations that, despite having good intentions, end up causing issues.
I believe that stock prices have at best a tiny relationship to the corporation’s health, except in extreme cases.
It’s mostly a picture of wealthy and powerful elites manipulating equity prices for their own gain. Completely rigged by people whose only concern is control.
But hey, we should be happy. Use Your Illusion. If we are intentional, free, and authentic they cannot touch our souls.
You know companies need to exist so you can have and do nearly everything you rely on in your life right? Unless you want the state to control all means of production, which I would not recommend, there is a lane where corporations do need to exist and you're absolutely free to invest in their businesses (or not) just like everyone else.
Add comment