AT&T vs. the Farm Team
Making money has never been easy for small-town phone companies, most of which rely on federal subsidies to survive. But two years ago, Ronald Laudner, chief executive of Farmers' Telephone, in rural Iowa, hit on a lucrative new source of profit, thanks to a convoluted federal mandate that requires long-distance carriers to pay rural phone companies. By the end of 2006 his call volume was up twelvefold and annual net revenues had doubled, to $2 million.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- The Latest on the Political Turmoil in Zimbabwe
- Goldman Sachs Sees Four 2018 Fed Rate Hikes as U.S. Growth Gains
- Norway Oil Bosses Insist End Isn't Nigh After $35 Billion Shock
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig