How can an incumbent LEC fail? They are a utility and will likely be around as long as telephones and data exist. Normally these types of companies are an extremely secure and conservative investment, no? The highs from the $10 days were artificially high from an inflated dividend. Now, the dividend is in line with the industry. They will compete with VZ for wireless and competition usually makes companies better over time. Their fixed line and data biz is mainly a monopoly. Am I missing something?