The recent credit crunch that is occurring in our country due to the near collapse of our economy is starting to take a toll on the wireless industry. Big players like At&t and Verizon are noting that their access to capital is becoming quite restricted with At&t not able to sell commercial paper longer than overnight. Executives are worried about the long term effects of the credit crisis in the industry. Wireless companies need to continue to grow, improve, and innovate for them to be successful. In order to achieve this goal, these companies need access to capital. The credit freeze is restricting this. Telecom companies including Verizon have decided to join blue chip companies to lobby for the government bailout plan. The bill has not passed the House of Representatives by a pretty narrow margin. The vote count was 228 to 205.
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