It's a lot easier for cable to get into the phone business than it is for phone companies to get into TV.

When an industry recovers, it's not unusual to get companies that postponed their decisions to return to the market. I think the conventional wisdom is they will go ahead with this.

In terms of the executives involved, they've got every incentive to do a deal, whether it makes sense or not, because if they don't do one, they give the money back.

The market must like the announcement.

A longer lockup, especially by executives, is certainly a vote of confidence in the company that investors do pay attention to.

It's tough for the regional and boutique players, with the pecking order of the bulge-bracket firms, to muscle your way into the big deals.