Word: nacchio
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Dates: during 1990-1999
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...used to be the first commandment of telecommunications: Thou shalt be huge. No phone company now has to invest billions in an expensive network. Instead it can just piggyback on other folks' networks, which have excess capacity to rent. Some upstarts are building networks of their own. Says Joseph Nacchio, CEO of Qwest, a telecom upstart based in Denver: "All the old reasons for scale are gone." Nacchio, who left the No. 3 slot at AT&T to run Qwest, compares the latest round of mergers to "an oligarchy buying a monopoly." The future, he predicts, will bring a more...