Broadbandits: Inside the $750 Billion Telecom Heist

By Om Malik and Om P Malik

Book Overview

Dieses Buch blickt hinter die Kulissen der Telekombranche.

Hier lesen Sie alles, worüber die Medien nicht berichten - über die Hauptakteure, die in Boomzeiten den Reibach gemacht haben, über die Experten, die sich einen Namen gemacht und ihn wieder verloren haben, über die Unternehmer, die jetzt hart kämpfen, um ihrem Leben wieder einen Sinn zu geben....

"Broadbandits" betrachtet die Telekom-Spekulationsblase aus der Sicht eines Insiders.

Mit einer Fülle von Geschichten und Anekdoten über eigenwillige Alleingänger, die einfache Licht- und Glasfaserkabel in regelrechte Goldadern verwandelten, über Finanziers, die zu gierig wurden und Millionen Ahnungsloser schröpften, über unbedarfte Risikokapitalgeber, die glaubten, dass sie die Hauptader angezapft hätten, über glücklose Unternehmer, die überzeugt waren, dass sie im Begriff waren, die Welt zu verändern und über selbsternannte Experten, die das Geschehen aus dem Hintergrund anfeuerten.

Das Buch stellt eine schillernde Besetzung vor - angefangen beim Sohn eines ehemaligen Kneipenwirts von Brooklyn bis hin zum Nachfahre einer blaublütigen Yankeefamilie - und erzählt, wie sie alle von diesem neuen Goldrausch erfasst und mitgerissen wurden.

Hier lesen Sie die Insiderstory, warum viele Startups und auch alt eingesessene Telekomunternehmen dem sog. "high yield heroin", der Droge des gro en Gewinns, zum Opfer gefallen sind.

"Broadbandits" ist das ma gebliche Buch über die Finanztricks und Machtkämpfe, die die Telekombranche schlie lich zu Fall gebracht haben.

Die wohl faszinierendste und spannendste Geschichte über den Untergang der Telekom-Riesen, über Intrigen und Habgier.

Om Malik ist ein führender Journalist des Red Herring und hat sich auf den Telekommunikationsmarkt spezialisiert.

• Format: Paperback
• Language: English
• ISBN: 0471660612
• ISBN13: 9780471660613
• Release Date: November 2004
• Publisher: Wiley
• Length: 352 Pages
• Weight: 0.89 lbs.
• Dimensions: 0.9" x 5.7" x 8.8"

Customer Reviews

I am invaluable-I didn't know what was going on!

Though much of the financial carnage associated with the companies chronicled in Broadbandits is well documented, I found Om Malik's coverage of the human element and motives involved to be both fascinating and illuminating.His timing on publishing this book could not be better, given the backdrop of ongoing investigations and legal action against many of the companies or principals he writes about. I find it ironic that a number of these "visionaries" and "promoters" who were paid like kings because they were supposedly so invaluable to their companies or firms, now use as a defense that they really didn't know what was going on in their companies. It is amazing people like Bernie Ebbers who made literally hundreds, if not thousands, of presentations to knowledgeable investors, who ask insightful questions, could now make this claim. Also, where are the other research analysts on Wall Street. It is one thing for Grubman to be an active co-conspirator, but where was the independent research that should have debunked these charlatans before they got started. The easiest myth to debunk of all is the myth that the Internet was growing 100% every four months over a sustainable period and press releases that claimed dial port consumption was increaseing 10% per month. Any reasonably asstute person could do the calculations on this and realize that there are not enough people or information to sustain this growth rate for more than a fleeting moment. In a matter of a couple of years everyone in the US would have had to have been signed onto an individual dial port twenty-four hours a day. Om Malik makes it clear how phony these arguments are and how dishonest and disingenuous they are. Future generations will look back on this much as we look back at the Tulip Bubble in Holland and wonder how did anybody ever believe any of this. This is a great first book for Om Malik.

Who, what, when, and why

This book explained things to me that even after following these stories over the last 5 years I didn't understand. I now know how all this stuff works, and why the bubble burst, and why my 401K looks more like a 101K. And, the book is actually enjoyable. I never thought reading about the people that stole my money could by so much fun. I guess it feels better knowing that most of them got theirs.

An OC-3 dose of human greed searching for technowealth

Be it the robber barrons of the railroad age or the techno age, their MO is the same. Hype the potential of rapid growth and fabulous wealth to employees, investors, lenders, and regulators while you carve out your personal wealth and build your mansions. Flagler did it in Florida and Ebbers did it Mississippi. Fast Eddie W. is doing it at SBC in Texas and hoodwinking all as the PSTN infrastructure is being fast eclipsed by the Chamber like pioneers at Cisco with VOIP networks. I made it my goal in reading this book to focus on telecom pioneers such as my Illinois native telecom hero, Jack Goeken, who took on the Goliaths at AT & T. I was happy to see that the author balanced out the book by talking about Jack. There is still plenty of room for the telecom Horatio Algers to make a substantial and lasting impact in helping the masses of the world to better communicate and bring us all a little closer together. Search these people out ... go to work for them ... invest in them ... read about them ... get inspired about them. We are out there!

Don't repeat history, learn from this book!

The latest run-up of telecom stocks -- for no reason -- is an interesting backdrop to reading this book, because you can see it all happening again. Malik's insights are deep and enjoyable, the pace comfortable, and the writing is engaging. While I can't say I enjoyed re-living the disasters in the telecom industry, I can say that it's something we all should do to avoid making many of the same mistakes. A great beach book.

A Thrilling, No holds barred account of Broadband Mania

A no holds barred account of moral and financial bankruptcy of the senior managements of major telecom companies...Malik weaves an entertaining account of the systematic deceit of the public by the barons of the new telecom and power of hype to which many of us succumbed. A must read for all those who lost in the stock market hype to be kept from being taken for a very expensive ride again.....