Being a gravel pit is great
So the large telephone companies in this country don't want to be commoditized. To avoid this fate, they're vertically integrating, calling Google names, and claiming that net neutrality opponents want to regulate the internet. And worse.
Someone should tell them that being a gravel pit can be a great way of life, and can unlock broad economic growth for the rest of us.
Here's a 2006 presentation from Bear Stearns that was sent around recently. The presentation makes the point that last-mile internet access can usefully be compared to water, gas, and electricity — it's a utility. It's difficult to replicate, it attracts regulation, and it's essential to ongoing growth.
Being a utility is a good business. The report notes that “utilities trade at a premium to telecoms” because of their “stable, predictable returns.” And structurally separating last-mile access from retail “services” would unlock great value, according to Bear Stearns, as well as being in a country's national interest.