Mid-sized rural carrier stocks have dropped an average of 25.9 pe...
Mid-sized rural carrier stocks have dropped an average of 25.9 percent in the 13 days since FCC Chairman Kevin Martin revealed his plan for overhauling the Universal Service Fund and intercarrier compensation. The category includes Embarq, Windstream, CenturyTel, Frontier,…
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Fairpoint, Iowa Telecom and Consolidated Communications. The drop is steeper than that of the overall market. The same period, the Dow Jones Industrial Average declined 2.2 percent. The S&P 500 fell 4.9 percent, while the S&P Telecom Index grew 1 percent. During the 13-day period, AT&T shares rose 4 percent, while Verizon gained 5.4 percent. Mid-sized carriers balk at Martin’s plan, which they say could cut their revenue so far they wouldn’t be able to recoup costs. Their trade association, the Independent Telephone & Telecommunications Alliance, has asked the agency to put the revamp plan out for public comment.