Posts Tagged ‘AT&T’

AT&T Buying T-Mobile US – Thoughts

Thoughts on AT&T’s proposal to buy T-Mobile – Karl Denninger and Robert Scoble, & Brett Arends

One bad company buying another: AT&T buys TMobile (Verizon forced this marriage!)

AT&T Wifi Box in Starbucks store in San Mateo

You all know I really despise AT&T, even though I continue paying them thousands of dollars per year for three cell phones. Since getting my Verizon iPhone I haven’t dropped a call and I can actually hear the other party. Steve Gillmor got one on Friday and, wow, what a difference. Not to mention that the world’s toughest dead zone: Devil’s Slide is non-existent for AT&T and TMobile, but works the entire way on Verizon for me.

TMobile is even worse. It doesn’t have enough coverage. My entire neighborhood, which includes some of the houses of the richest VCs, not to mention VPs from Apple, HP, and other places, has NO TMobile Coverage. This isn’t back waters of some flyover state. It’s 13 miles from the tech center of the world (at least until Beijing takes over later this decade).

CNBC just announced AT&T is buying TMobile’s US business for $39 billion. More details flowing in on Google News and even more over on Techmeme. That’s one way to get more bandwidth to try to serve iPhone users better before they all realize Verizon has a better network.

I think this COULD be a good thing, if they fill in some of the numerous dead zones and get us better service. I’m stuck with AT&T because I need to head to Europe every few months and AT&T’s iPhone is better there. Also because in other places AT&T does have better coverage, and its data is faster and also I can use data while talking, which really isn’t that big a deal for ME anymore (since I have two phones, I solved that problem).

Anyway, does one bad company buying another make a good one? I guess we’ll see.

Yes, I know I might get crap for calling these companies bad companies, but I’ve paid AT&T thousands of dollars over the last few years. I’ve earned that right.

Speaking of which, why didn’t they just spend that $39 billion making a better network? Oh, do I love capitalism sometimes.

This is a forced marriage due to Verizon finally getting the iPhone. If that hadn’t happened AT&T would have continued


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The Big Things That Matter

The Big Things That Matter

Courtesy of PAUL CRAIG ROBERTS writing at CounterPunch

I write about major problems:  the collapsing US economy, wars based on lies and deception, the police state based on “the war on terror” and other fabrications such as those orchestrated by corrupt police and prosecutors, who boost their performance reports by convicting the innocent, and so on.  America is a very distressing place. The fact that so many Americans are taken in by the lies told by “their” government makes America all the more depressing.

Often, however, it is small annoyances that waste Americans’ time and drive up blood pressures. One of the worst things that ever happened to Americans was the breakup of the AT&T telephone monopoly. As Assistant Secretary of the US Treasury in 1981, if 150 per cent of my time and energy had not been required to cure stagflation in the face of opposition from Wall Street and Fed Chairman Paul Volcker, I might have been able to prevent the destruction of the best communications service in the world, and one that was very inexpensive to customers.

The assistant attorney general in charge of the “anti-trust case” against AT&T called me to ask if Treasury had an interest in how the case was resolved.  I went to Treasury Secretary Don Regan and told him that although my conservative and libertarian friends thought that the breakup of At&T was a great idea, their opinion was based entirely in ideology and that the practical effect would not be good for widows and orphans who had a blue chip stock to see them through life or for communications customers as deregulated communications would give the multiple communications corporations different interests than those of the customers. Under the regulated regime, AT&T was allowed a reasonable rate of return on its investment, and to stay out of trouble with regulators AT&T provided excellent and inexpensive service.

Secretary Regan reminded me of my memo to him detailing that Treasury was going to have a hard time getting President Reagan’s economic program, directed at curing the stagflation that had wrecked President Carter’s presidency, out of the Reagan administration.  The budget director, David Stockman, and his chief economist, Larry Kudlow, had lined up against it following the wishes of Wall Street, and the White House Chief of Staff James Baker and his deputy Richard Darman were representatives of VP…
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WSJ: The iPhone, Net Neutrality and the FCC

WSJ: The iPhone, Net Neutrality and the FCC

Wsj_logo 

Courtesy of Andy Kessler 

AT&T’s Picturephone, shown at the 1964 World’s Fair, was a huge flop. Apple’s new iPhone 4, announced this week, has a front-facing camera for video chats. It might succeed, except that AT&T isn’t providing enough bandwidth capacity.

The new Apple iPhone 4, seen in this image courtesy of Apple, was unveiled by Apple CEO Steve Jobs at the 2010 Apple World Wide Developers conference in San Francisco, California, on June 7, 2010.  UPI/Courtesy of Apple/FOR EDITORIAL USE ONLY Photo via Newscom

First, the company won’t allow two-way video to work over its data network. Second, AT&T just made bandwidth-intensive video expensive by dropping iPhone and iPad’s $30 per month unlimited data plans and replacing them with a two-tiered plan of $15 a month for under 200 megabyte usage or $25 for two gigs. Not that I have a problem with AT&T charging me or the 2% of its customers who are heavy data users. I can always sign up with a competitor. Oh, wait. There are none. AT&T has an exclusive contract with Apple.

AT&T can easily build out enough capacity to handle heavy data users. But it may be playing a game of chess with the FCC over its attempt to impose "network neutrality" rules. The FCC (plus Google and friends) wants all users to have free rein to do what they want on the Internet and smart phones. AT&T just wants users to pay for excess bandwidth.

Both are fine and not incompatible goals, except that competition, rather than rules, will best set the right price and make it happen. But without more broadband capacity and much higher speeds, the productivity applications needed to drive the next wave of growth in the economy will be stillborn.

Read the rest here:

http://online.wsj.com/article/SB10001424052748703303904575293021509968904.html

See also:  AT&T Goes AOL on Data Hogs, Jr. Deputy Accountant 


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Remedial Economics with Obamacare

Remedial Economics with Obamacare

Courtesy of Jr. Deputy Accountant 

Some of us obviously need a refresher in Econ 101 (Ben Bernanke, OMGObama if he ever actually took it, Nancy Pelosi, etc etc) but it’s all good; Obamacare is here to teach us that there is no "something for nothing". Pelosi should probably listen to the lesson twice. 

Reuters:

AT&T Inc (T.N) said on Friday it would record a $1 billion non-cash charge for the current quarter related to the new U.S. health care reform law, as lawmakers called on the company and three other large employers to testify about expected cost hikes.

AT&T’s charge appeared to be the largest in a series of charges announced by U.S. companies this week.

A House Energy and Commerce subcommittee said on Friday it will call on the chief executives of AT&T, Caterpillar (CAT.N), Verizon (VZ.N) and Deere (DE.N) to testify on April 21 about how the reform might adversely affect their ability to provide health insurance.

"The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern," the subcommittee said in the letters.

AT&T, whose annual revenue is expected to be $124.1 billion this year, said the charge is the result of a provision in the law related to the tax treatment of Medicare subsidies.

And where, exactly, are companies supposed to come up with the difference? Public company accounting – in case you are not aware, I’ll save you the filthy GAAP details – is not like government (fund) accounting. While the Obama administration may have the advantage of a conveniently-located printing press in town at Bernanke’s place and fund accounting on its side, public companies actually have to make balance sheets balance and put something aside or borrow to comply with this awesome new health reform plan.

Way to encourage economic growth, Washington. 

Money that could have easily gone into infrastructure, technology, inventory, human capital, or R&D ends up going to Washington (as if the printing press and fund accounting weren’t pay day enough in DC. Here’s a hint: there is never enough) to be redistributed. Partially to the IRS to pay all these new "auditors".

See where we’ve gone wrong yet?
And hey! All you asshat iPhone users can also blame Obamacare for the ever-crappier network you’ll be on as AT&T will, naturally, have to take $1 billion from somewhere else. 

 


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WSJ: Why AT&T Killed Google Voice

WSJ: Why AT&T Killed Google Voice

Courtesy of  Andy Kessler

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Earlier this month, Apple rejected an application for the iPhone called Google Voice. The uproar set off a chain of events—Google’s CEO Eric Schmidt resigning from Apple’s board, and the Federal Communications Commission (FCC) investigating wireless open access and handset exclusivity—that may finally end the 135-year-old Alexander Graham Bell era. It’s about time.

Google_voice_logo With Google Voice, you have one Google phone number that callers use to reach you, and you pick up whichever phone—office, home or cellular—rings. You can screen calls, listen in before answering, record calls, read transcripts of your voicemails, and do free conference calls. Domestic calls and texting are free, and international calls to Europe are two cents a minute. In other words, a unified voice system, something a real phone company should have offered years ago.

Att-3g-iphone  Apple has an exclusive deal with AT&T in the U.S., stirring up rumors that AT&T was the one behind Apple rejecting Google Voice. How could AT&T not object? AT&T clings to the old business of charging for voice calls in minutes. It takes not much more than 10 kilobits per second of data to handle voice. In a world of megabit per-second connections, that’s nothing—hence Google’s proposal to offer voice calls for no cost and heap on features galore.

What this episode really uncovers is that AT&T is dying. AT&T is dragging down the rest of us by overcharging us for voice calls and stifling innovation in a mobile data market critical to the U.S. economy.

For the latest quarter, AT&T reported local voice revenue down 12%, long distance down 15%. With customers unplugging home phones and using flat-rate Internet services for long-distance calls (again, voice is just data), AT&T’s wireline operating income is down 36%. Even in the wireless segment, which grew 10% overall, per-customer voice revenue is down 7%.

Wireless data service is AT&T’s only bright spot, up a whopping 26% per customer. How so? As any parent of teenagers knows, text messages are 20 cents each, or $5,000 per megabyte. After the first month and a $320 bill, we all pony up $10 a month for unlimited texting plans. Same for Internet access. With my iPhone, I pay $30 a month for unlimited data service (actually, one gigabyte per month). Is it worth that? The à la carte price for…
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Zero Hedge

Watch Live: President Trump And Israeli PM Netanyahu Joint Press Conference

Courtesy of ZeroHedge. View original post here.

Having confirmed earlier in his press conference with Israeli President Rivlin that 1) he did not say the word 'Israel' to the Russians, and 2) Iran are the bad guys (confirming the narrative from the Saudis the day before), President Trump is due to join Israeli PM Benjamin Netantahu shortly for a joint press conference...

Trump meets with President Rivlin at his residence for a bilat. Trump commended Rivlin's work, and the two discussed the "opportunity" for Israel and other countries in the Middle East to come together.

"Thi...



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Financial Markets and Economy

Producers Set to Extend Cuts as Rally Stalls: OPEC Reality Check (Bloomberg)

Reeling from the worst oil-market rout in a generation, producers controlling about 60 percent of the world’s supply came together last year determined to put an end to the global glut. 

OPEC's Worst Cheater Will Get Harder to Ignore as Curbs...



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ValueWalk

FPA Crescent Fund 1Q17 Letter, Audio, Transcript: Arconic Letter And More

By VW Staff. Originally published at ValueWalk.

FPA Crescent Fund commentary for the first quarter ended March 31, 2017.

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Dear Shareholders:

The FPA Crescent Fund (“the Fund”) returned 3.37% in the first quarter of 2017. This compares to the 6.07% return of the S&P 500 in the period and the 6.91% return of the MSCI ACWI index.

The first quarte...



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OpTrader

Swing trading portfolio - week of May 22nd, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Market News

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Financial Markets and Economy

Stocks don't need the Trump bump anymore (Business Insider)

Does the stock market even need the Trump trade anymore?

Merely posing such a question may strike some equity enthusiasts as blasphemy. After all, in the months right after the presidential election, the sectors seen as most closely tied to President Donald Trump's proposed policies — most notably financials and industrials — soared.

Stocks Rise, Dollar Slum...



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Digital Currencies

Bitcoin Soars Above $2000 For First Time Ever

Courtesy of Zero Hedge

Bitcoin is now up over 100% in 2017, amid global political uncertainty and increased interest in Asia, suddenly spiking above $2000 this afternoon for the first time ever...

That is a year-over-year gain of more than 350%. The move comes, as CoinDesk notes, amid a broader boost in the cryptocurrency market, which broke the $60bn barrier today. The increase has taken place amid strong surges from Ripple's XRP, which seeks to lower costs in enterprise cross-border payments, and ethereum's ether token, a cryptographic asse...



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Biotech

Beyond just promise, CRISPR is delivering in the lab today

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Beyond just promise, CRISPR is delivering in the lab today

Courtesy of Ian HaydonUniversity of Washington

Precision editing DNA allows for some amazing applications. Ian Haydon, CC BY-ND

There’s a revolution happening in biology, and its name is CRISPR.

CRISPR (pronounced “crisper”) is a powerful technique for editing DNA. It has received an enormous amount of attention in the scientific and popular press, largely based on the promise of what this powerful gene e...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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Chart School

...And Then Things Went Pear Shaped

Courtesy of Declan.

After days of steady gains, it was surprising to see the level of selling on show today; the last day like today in the markets was last December. How today plays out in the long term is still up for grabs as key trading ranges haven't been breached. Shorts will be watching for opportunities, but what followed last December was another kick start for the rally - bulls have a reason for optimism.

The biggest reversal was in the Semiconductor Index. Yesterday's 1.5% gain was whipped by a 4.4% loss. The attempt to break out of the rising channel was snapped away, putting the breakout gap from last week under pressure.

...

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Mapping The Market

Bombing - Right or Wrong?

Courtesy of Jean-Luc

I am telling you Angel – makes no sense… BTW:

Republicans Love Bombing, But Only When a Republican Does It

By Kevin Drum, Mother Jones

A few days ago I noted that Republican views of the economy changed dramatically when Donald Trump was elected, but Democratic views stayed pretty stable. Apparently Republicans view the economy through a partisan lens but Democrats don't.

Are there other examples of this? Yes indeed. Jeff Stein points to polling data about air strikes against Syria:

Democr...



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Free eBook - "My Top Strategies for 2017"

 

 

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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Mid-Day Update

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