telecom

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Congress Torn on Telecom Immunity
Congress Torn on Telecom Immunity
Nov 16, 2007 7:48 AM CST

Congress Torn on Telecom Immunity

Senate panel sidesteps; House passes bill without it

(Newser) - Congress is conflicted over proposed immunity laws that would retroactively protect telecoms from suits alleging they illegally handed the government information on calls. The Senate Intelligence Committee endorsed immunity 13-2 last month, but the Judiciary Committee left the immunity section out of the document it approved yesterday. The House passed...

Comcast Sued Over File-Sharing Interference

Telecom giant says it slows high-volume users to protect wider network

(Newser) - A subscriber has sued Comcast for slowing file-sharing activities after an AP report last month showed that the nation's largest cable company falsely signals file-sharing software that the network connection has dropped. The man alleges that Comcast misleads consumers by claiming it offers "mind-blowing" speeds and "unfettered access"...

Cable, Telcos Killing US Web Success Says Pundit

Sees broadband providers' Luddite attitudes stifling growth, innovation

(Newser) - Comcast’s recent disabling of big file uploads could lay waste to Silicon Valley’s media complex, says SiliconValleyWatcher’s Tom Foremski, injuring or killing Web 2.0 companies like YouTube or Facebook. Comcast's insistence that it isn’t contractually obligated to provide those companies’ services, he argues, is the...

Dodd to Block Telecom Immunity
Dodd to Block Telecom Immunity
Oct 19, 2007 6:57 AM CDT

Dodd to Block Telecom Immunity

Vows to keep bill shielding carriers from coming to a vote

(Newser) - Dem presidential hopeful Chris Dodd said yesterday he will place a “hold” on a bill that would grant retroactive immunity to telecom companies who handed over phone records to the feds without warrants. The White House and the Senate Intelligence Committee had made a deal to clear carriers Wednesday,...

AT&amp;T Stops Time (of Day)
AT&T Stops Time (of Day)
Aug 29, 2007 6:39 PM CDT

AT&T Stops Time (of Day)

Americans no longer calling in to hear the right time

(Newser) - Californians are saying goodbye to a more genteel era, a time when they used to set clocks by calling in to AT&T for the correct hour. Cell phones and computers have made the service outdated, the company says. “Times change,” says a spokesman. “There are just...

AT&T to Shift All Ad Work to 1 Agency

Five firms currently handle telecom titan's $3.3B budget

(Newser) - AT&T plans to turn its decentralized media buying and planning over to one advertising agency, and the five incumbents are in the running for the business, which Advertising Age values at $3.345 billion for 2006. The telecom giant, the second-largest advertiser in the nation, says it is “...

Ex-Qwest CEO Gets 6 Years
Ex-Qwest CEO Gets 6 Years
Jul 27, 2007 5:43 PM CDT

Ex-Qwest CEO Gets 6 Years

Nacchio's insider-trading penalty includes paying $71M

(Newser) - Qwest's former CEO was sentenced to 6 years in prison today for engaging in insider trading while the company's stock plummeted. Joseph Nacchio committed "crimes of overarching greed,'' a federal judge in Denver said as he fined him $19 million in addition to the $52 million he must...

Mr. Slim Is New Global Fat Cat
Mr. Slim Is New Global Fat Cat
Jul 4, 2007 7:11 AM CDT

Mr. Slim Is New Global Fat Cat

Mexican telecom chief Carlos Slim beats Bill Gates as world's richest man

(Newser) - Move over, Bill Gates. The Microsoft founder, who has  been the world's richest individual for a decade, has lost his lofty perch to a little-known Mexican telecom tycoon, Carlos Slim, the Guardian reports.  His wealth has been estimated at $67.8 billion compared with $59.2 billion for Gates.

BCE Agrees to Landmark LBO
BCE Agrees to Landmark LBO
Jul 1, 2007 10:24 AM CDT

BCE Agrees to Landmark LBO

Ontario teachers' retirement fund lines up largest Canadian takeover ever

(Newser) - Canada's dominant telecom company will go private in the country's biggest takeover ever, and one of the largest LBOs in the world. A powerful teachers' retirement fund and two American private-equity firms made a deal yesterday for CBE, also known as Bell Canada. The $48.5 billion (C$51.7 billion)...

High Court Raises Bar for Investors' Suits

Companies trump shareholders for second time in a week

(Newser) - Investors who accuse companies of fraud based on executives' misdeeds must show that they acted intentionally, the Supreme Court ruled today, making it easier for corporations to have shareholder lawsuits dismissed. The decision helps protect companies against frivolous suits by clarifying a 1995 law, the Times reports, but critics say...

Private Equity Binge Goes Wireless
Private Equity Binge Goes Wireless
May 21, 2007 10:18 AM CDT

Private Equity Binge Goes Wireless

Goldman Sachs, Texas Pacific Group will buy Alltel for $27.5B

(Newser) - A consortium led by the Texas Pacific Group and Goldman Sachs yesterday snapped up the nation's fifth-largest wireless provider for $27.5 billion, the largest telecom buyout ever. The $71.50 per share offer for Alltel awaits shareholder and regulatory approval and comes weeks before a scheduled auction for the...

More Americans Go Wireless
More Americans Go Wireless
May 15, 2007 11:10 AM CDT

More Americans Go Wireless

Landline use falls; one-eighth of US households rely on cellphones only

(Newser) - More and more Americans are bypassing landlines and using only cellphones, a new CDC survey says. The trend encompasses people of all ages and incomes, and it's especially pronounced among the young and the poor. One-eighth (12.8%) of all households use only a cellphone—up from 3.2% in...

Nacchio Goes Down for Insider Trading

Federal jury convicts former Qwest CEO for dumping company stock

(Newser) - Joseph Nacchio, former CEO of Internet-bubble-blowing telecom Qwest, was found guilty of 19 counts of insider trading by a federal jury in Denver yesterday. Nacchio dumped more than $100 million in Qwest stock in 2001, before the stock imploded over questionable accounting practices. The jury acquitted on 23 other counts.

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