Information Highwaymen

Last fall, postal worker Jack Lawrence watched with keen interest a television infomercial about investing in the "communications technology of the future." After calling an 800 number and receiving a packet on specialized mobile radio (SMR), which is used by taxis and trucking companies, he got a call from a Comcoa Ltd. salesman who made him the proverbial offer he could not refuse. For just $7,000 each, he was told, Comcoa would obtain SMR licenses for him from the Federal Communications Commission. That, said the salesman, would allow him to earn $8,400 annually per license by leasing the licenses to communications companies interested in setting up networks.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.