17 January 2020 | Bruce Kushnick, Managing Director: email@example.com |
ABOUT: This case details one of the largest accounting scandals in American history. It is based on the annual financial reports of Verizon NY, the state-based telecommunications utility, which shows that the application of the FCC’s deformed cost accounting rules, which are still in use, have made the entire US wired infrastructure appear unprofitable. We estimate that $50-60 billion annually is being overcharged, that the wireline customers are being forced to subsidize the wireless business, instead of delivering fiber optic services to the home, and that this created the Digital Divide, and keeps America’s communications prices extremely inflated as compared to overseas.
The companies tout 5G Wireless, but it is a bait-and-switch and not profitable once the subsidies are removed; cities and states would have billions in funds for wireline fiber optic upgrades, not to mention lowering prices and bringing back direct competition.
Link to 2020: IRREGULATORS vs. FCC Law Suit