1 hour ago
Monday, September 18, 2006
Commonwealth Telephone is sold
CB: Citizens Communication, based in Stamford, cone., announced Monday it has agreed to purchase Commonwealth Telephone Company of Dallas for $1.16 billion in a stock and cash deal. Commonwealth Telephone, with 1,100 employees, provides business and residential customers with telephone and other telecommunications products and services.
I can't say that I like this. Commonwealth has been locally owned since it's founding in 1897 and I know some people who work for the company. You can bet that the local front office operations and sales force will be cut resulting in several hundred good paying jobs being lost. By way of disclosure I stand to benefit financially from the sale as I own some stock in the company, capitalist pig that I am. I bought stock in them after I switched our telephone service from Verizon and have received outstanding service. We have never had an outage and the package of services is $15 dollars a month less than Verizon was charging. As a customer I worry about receiving the same quality service and as a resident I don't want to see my neighbors lose their jobs.