On Thursday afternoon (Jan. 31), the telephone industry will ascend Capitol Hill with yet another plea for unlimited freedom. In this case, Congressional staffers will hear from CTIA, the wireless trade group, about the awful, dreadful consequences of subjecting poor, understaffed and beleaguered companies like AT&T and Verizon to a little bit of government oversight.
That would be the AT&T that reported $3.1 billion in earnings and picked up a net 2.7 million wireless subscribers in the fourth quarter last year. According to AT&T, that increase is “highest quarterly subscriber increase ever for any U.S. wireless provider” and brings the company’s total to 70.1 million with some healthy returns to boot. That would be Verizon which reported a mere $1 billion in earnings for the quarter while adding 2 million wireless customers to bring its total to 65.7 million.