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Towerstream Corporation: Filling a Wireless Niche |
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| Jul 08, 2008 07:35 AM UTC |
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Tracked Blogger
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Via Long Investment Ideas from Seeking Alpha:
Once upon a time, there existed a giant telecom company called AT&T Corporation (T) that was the target of a 1974 antitrust lawsuit, which eventually resulted in the company breaking up into seven regional operating companies called the "baby bells", a long distance company and a computer company called AT&T Computer Systems. While this antitrust lawsuit broke AT&T's national monopoly, the regional baby bells still held access-monopoly to the consumer's household through what is commonly referred to as the last mile in the telecom industry. Traditionally, the last mile is the copper line that leads into your house or business from the telecom network. The Telecommunications Act of 1996 created a uniform national law that allowed new telecom companies called Competitive Local Exchange Carriers (CLECs) to compete against the incumbent baby bells like Verizon (VZ) and SBC Communications, by giving these new telecom companies access to the "last mile" and the ability to resell the networks of the baby bells. This law led to a slew of new telecom startups like Covad and Allegiance Telecom, as well as spurred growth at companies like XO Communications and McLeod USA. After the crash of the dot com bubble and the ensuing "telecom nuclear winter" that resulted from the capacity hangover of the late 90s, most of these CLECs went bankrupt. 
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