Thursday, February 24, 2005 - Posts

Lend me 16 billion dollars

A distinct advantage of living in a Red County in a Blue State is that you get face time with your United States Senator. Last night I caught up with Jon Corzine after he gave an informal talk.

 “What do you think of the AT&T deal” “they are not doing well in the long distance phone business” “yes I know VOIP over the Internet is replacing the phone companies, but AT&T owns the fiber that circles the globe, they are the Internet”.

I had his complete attention, “their PR agencies are feeding the news stories about the failed long distance business, but AT&T’s assets are worth much more then the 16 billion dollars SBC is offering, why don’t you lend me 16 billion and we’ll buy AT&T”. He didn’t laugh, but shook his head and repeated “16 billion, Global Crossing went broke trying to...” I interrupted the Senator “replicate what AT&T already had”.

Just when I thought he was going to reach for his checkbook he said “we really need to get Verizon back here” “you mean New Jersey Bell, that became Atlantic Bell”, “yes we have to get Verizon back here…” We need to call AT&T and get some numbers ple-ase!