On Friday, AT&T Inc. said it will buy the assets of Verizon Wireless in 79 mainly rural areas for $2.35 billion, a deal that will affect more than 1 million subscribers.Verizon Wireless was forced to sell the service areas, which are spread over 18 states, to satisfy regulatory conditions of its purchase of Alltel Corp. The areas are mainly Alltel territories that overlap with Verizon's own coverage, but also some Verizon territories and areas...more
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Is the Spirit of America alive and well again in Detroit? Can we assume that capitalism will reign again and business will rise to meet the needs and wants of the American public or go the way of the Edsel? Who can say? Well, perhaps the following will help you decide. I dont claim to have figured it out, but there are certainly some ideas and facts to ponder. Just days ago General Motors Chairman/CEO Ed Whitacre proudly stated that GM has now repaid all $5.8 billion of federal loan money with interest, five years ahead of schedule. This was possible, Whitacre said, because of GMs changed business plans and the success of new models such as the Chevy Malibu and Buick Lacrosse.Buick dealerships in Ft. Myers see this as a sign that GM is back on its feet and will soon be running with the big automakers again. General Motors received about $50 billion from the U.S. and Canadian governments. Most of those funds were turned into company stock. The remaining cash has now been paid back. This is remarkable when you consider that General Motors has been out of bankruptcy less than a year. GM also has announced that its Fairfax, Kansas plant will add production of the Chevy Malibu, adding...more
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