He focused on areas that had been deregulated, leasing equipment and selling long-distance telephone services.
The accounting fraud drove America's second-largest long-distance telephone company into Chapter 11 bankruptcy.
This partly reflects the emergence of long-distance telephone plans that no longer charged per minute but rather used a fixed fee.
Likewise, traditional local and long-distance telephone service over the copper network is being displaced by better technology from cable and fiber.
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There are sound reasons why long-distance telephone, television and Internet long ago moved from satellites to terrestrial microwave and then fiber optic.
The Hartford Stock Exchange is an example of why: It closed in 1935, within months of the opening of long-distance telephone lines between that Connecticut city and New York.
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In turn, the utility can offer its ratepayers a package of some two dozen consumer services, including Internet access, appliance protection, satellite television, long-distance telephone service, carbon-monoxide protection and security.
WorldCom and Sprint are the Number 2 and Number 3 US long-distance telephone companies respectively, and the US government is worried that the two companies already compete in the same areas and that US telecoms industry would be left with only two main competitors.
It forthrightly refused to recognize that the Internet was obliterating traditional barriers between long-distance and local telephone calls and between telephony, TV, radio and cable.
The telephone enabled long-distance communication in real time.
The flagship Titan 5500, introduced in 1991, came just at the cusp of a huge capital spending boom from the U.S.' regional Bell telephone companies and long-distance carriers.
Periquet also likes Philippine Long Distance Telephone (nyse: PHI - news - people ), listed on the New York Stock Exchange as an American Depositary Receipt.
Instead of tracking the cost of a long-distance phone call, for example, the new classification simply tracks the cost of telephone services.
He says that around 250 people come to his cabina each day - with most of those coming in the middle of the night to make long distance telephone calls.
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