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Phone Companies Ripping off Local Authorities

Just read a pretty effed up article in the paper this morning and thought I’d share it in this blog. Apparently phone giants AT&T and Verizon Communications have been ripping off local authorities nationwide. Local officials in several states have filed several lawsuits claiming that they’ve been distributing out discounts to big businesses at the expense of 911 emergency services, shortchanging millions upon millions of dollars.

Verizon_Logo_2015I don’t know about you, but this is corporate corruption at its finest; robbing public services and costing everyone the security they’re promised by their local authorities. Roger Schneider, who is an entrepreneur from Huntsville, Alabama, found out about this thievery 12 years ago. Phone companies eventually settled at somewhere around $3 million dollars in cases which he helped bring about in the state of Alabama.

Earlier this year in January AT&T got slammed pretty hard by 10 counties in a case in Tennessee, but they prevailed somehow. Seeing the corporate world continuously do shady stuff like this and then eventually getting sued, and then after that becoming more profitable and stronger, richer, and more powerful, depresses a middle class guy with an average income like me.

322984903_05295b713f_zMakes me feel like there isn’t much hope out there anymore for a guy to save up and start a small business and even compete with the corporate giants who eventually first push him to become an underdog in the market and then eventually force him to shut down his business as a result of not keeping up with the lower prices provided by his competitors.

About 15 jurisdictions in the city of Pennsylvania alone have filed cases against more than a dozen different phone companies. This has been going on for quite a while but recently has picked up full force and has been gaining national attention to the point where the corruption and greed of these corporate Fortune 500 companies is being thoroughly investigated and exposed to the media.

The Rise and Decline of Corporations 2016

walmart-jetI’m sure you’ve heard by now that Yahoo! is getting ready to sell itself off to Verizon for $4.8 Billion. That’s a lot of money but in terms of how much their competitors like Google and Bing are worth, its really not much.

Considering the fact that each of those giants are worth in the hundreds of billions of dollars if they were to be bought by someone. It seems to me like both little startups and big companies that have been around for a while are being bought out by bigger guys in the whole scheme of things. There just seems to be lesser and lesser competition these days.

And a level below that we see little mom and pop stores that shut down as a result of Walmart’s low prices and aggressive business tactics.

Walmart is currently having talks about buying web retailer Jet.com. Jet, in case you haven’t used it or heard of it yet, is just like amazon except they give away lots of discounts and do free shipping and things like that. Analysts are currently estimating that Jet is worth at least $3 billion. If this deal goes through it’ll be the biggest purchase in Walmart’s history or mergers.

jet-buy-walmartWalmart wants to dominate in both the brick and mortar sector as well as online. Right now the “Walmart” of the internet is Amazon. Last black Friday, Amazon had more orders from customers than they had estimated, resulting in UPS not being able to deliver everything on time. Walmart definitely wants a piece of that action, and if they take over Jet.com then they could potentially be a real threat towards Amazon.

This however is not Walmart first attempt in competing with Amazon. Walmart has added new features for customers like mobile payments, along with an addition of over 1 million products on its online platform.

Acquiring Jet would also give Walmart that edge its been looking for to appeal to higher income shoppers.