What could drive upside is more significant price cuts, and it wouldn't surprise me if it happened after the spring of 2004.

An AOL counter-bid is not out of the question. The nice thing about a Cox deal is that it would be part of AOL and part of its revenue and cash flow .

Microsoft would do whatever they can to keep AT&T from going to AOL.

I was surprised that they came out this soon and announced. It's really just a token one, but there's room for it to increase.

Do two wrongs make a right?

If we fast forward two years, the biggest challenge for carriers in the industry is upgrading the technology in their networks.