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Whitacre Outlines Telecom ''Campaign Platform'' to Boost Jobs, Growth
BOSTON --(Business Wire)-- May 6, 2004 -- U.S. policymakers should reform rules governing local telephone service, improve broadband policies and allow the telecom industry to evolve, which would revitalize the industry, creating jobs and growth, according to SBC Communications (NYSE:SBC) chief executive Edward E. Whitacre Jr.
In a speech before the Chief Executives Club of Boston, Whitacre offered a concise platform of proposals for any candidate for office concerned about job growth and economic health.
"In my view, reforming the local wholesale rules, improving broadband regulation, and allowing the industry to evolve and mature...would have voters cheering," he said.
Whitacre pointed to two new studies that showed how the current wholesale rules have hurt the U.S. economy and how reforming those rules would boost capital spending and job growth.
A study released by the Economic Policy Institute this week reported that the wholesale rules contributed to the loss of 380,000 American jobs--most of which came directly from the telecom industry.
On the other hand, a new study by Decision Economics said this week that reforming telecom regulation would generate $6.8 billion annually for the next five years in capital spending, and lead to the creation of more than 90,000 jobs annually.
Whitacre urged policymakers to move quickly to address these issues. He also noted that while the industry was moving forward to negotiate commercially viable wholesale agreements among themselves, several states were threatening that progress by demanding that such agreements be filed publicly.
"Only in the bizarre world of telecom regulation would companies be expected to negotiate sensitive business issues in public, and then have those results jeopardized by state regulatory interference," he said.
"We are happy to file those portions of the agreements that fall under the Telecom Act's purview, and we have started doing so," added Whitacre. "But no company negotiates terms that affect its business plans and strategies in public."
SBC Communications Inc. (NYSE:SBC) is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves more than 24 million wireless customers. SBC companies provide high-speed DSL Internet access lines to more American consumers than any other provider and are among the nation's leading providers of Internet services. SBC companies also now offer satellite TV service. Additional information about SBC and SBC products and services is available at www.sbc.com.
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