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AT&T stock fell to 29-year low on Friday and sank another 6.7% today (arstechnica.com)

submitted 1 year ago by [email protected] to c/[email protected]

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AT&T's stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

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[–] [email protected] 1 points 1 year ago

Utilities, in particular, can and often should be owned by municipalities or states. For every example of an inefficiently-run state-owned enterprise, there’s a dozen boring, local, publicly-owned utilities that are run as well or better than private companies.

The clusterfucks tend to be at the national level where there’s no real oversight. A corrupt president might be able to treat a utility as a slush fund or jobs program and get away with it but a mayor or county executive just doesn’t have the juice to be flagrantly corrupt without someone investigating.