Thursday, July 8, 2010

The Free Market

In running through the charts for this morning's newsletter, I came across Verizon. Lousy looking chart save for an oversold bounce possibility. But I got to thinking about the baby bells and "where are they now/"

From Wikipedia:

  • Ameritech — (acquired by SBC Communications in 1999)
  • Bell Atlantic — (acquired GTE in 2000 and changed its name to Verizon)
  • BellSouth — (acquired by AT&T Inc. in 2006)
  • NYNEX — (acquired by Bell Atlantic in 1996)
  • Pacific Telesis — (acquired by SBC in 1997)
  • Southwestern Bell — (changed its name to SBC in 1995; acquired AT&T Corp. in 2005 and changed its name to AT&T Inc.)
  • U S West — (acquired by Qwest in 2000)
This does not include indies such as Cincy Bell and Southern New England. The point is that of Ma Bell and the major Baby Bells, only two remain standing.  The government broke up the company and over time the free market put them back together again. Basically, all that was accomplished was altering who was running the show.

The free market knows what to do.

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