IT WAS INTERESTING TO READ INQUIRIES about Puerto Rico, Spain and Portugal from some of your readers. But you have yet to provide any information about the largest island in the Caribbean-Cuba. Communist rule is not going to last much longet President Fidel Castro is in his 70's and there is no successor to take his place. The Cuban people are anxious for a change to capitalism, and will welcome Cubans from Florida with open arms and parades. How about preparing for the transition by publishing information that will be useful to your non-U.S. citizen investors?
Encino, California, USA
Tell Full Story of Telmex
EARNINGS ARE NOT THE ONLY REASON WHY Telefonos de Mexico is "enjoying deregulation:' as your "Top 100" survey pointed out (July 1999). Despite a telecom law based on sound competitive principles, Mexicos regulatory system has favored Telmex. As a recent OECD [Organization for Economic Co-Operation and Development] report pointed out, it allows this former monopoly to set predatory prices in the competitive long-distance market, and to compensate by hiking prices for local service, where it retains dominance. It allows funds collected for the public purpose of building new lines to accumulate as general revenues for Telmex, without accountability. It sets network access charges without reference to actual costs and it functions without transparency. The Mexican consumer loses out. AMEDEC, a Mexican consumer group, notes that contrary to world trends, local service rates have increased eightfold since Telmex was privatized. Mexican officials say their first goal was "not to destroy...