Qwest was this high-flying stock with a huge multiple of cash flow, ... It's now buying two companies that have more moderate growth rates. I expect to see that price come back.

I think they're going to get bought out by somebody,

You know, people really have not been buying into these stocks lately, ... They're extremely undervalued. Remember one thing: they own the first mile to every customer that's out there. When they get into long distance, which they will eventually late this year and early next year, they're going to be powerhouse stocks.

I think AT&T should spend a little more time trying to figure out how not to lose net market share and try to slow the bleeding, ... (They should) try to rev up that side of the business without trying to bring in new services. That's still an issue for me as an investor.

Historically, the consumer has been subsidized by business users. Unfortunately, with the deregulation of this industry, the consumers are going to pay more regardless of this merger. It's already in the cards.

But the core businesses are still suffering. It's a mixed bag.