Wise indeed was ol’ Aesop, that ancient spinner of fables, when he bequeathed to our Western culture the very useful idea that slow but steady progress is ultimately triumphant. This holds true in most fields of human endeavor. It is a lesson that must constantly be relearned, and also one that our tech-besotted society ignores at its peril. We must appreciate those things that long endure.
“Taking Stock” columnist Malcolm Berko demonstrates an eminently “Aesopian” appreciation for the quietly reliable business model associated with AT&T. This seems entirely appropriate. AT&T (Ma Bell) almost completely dominated telecommunications in the U.S. from 1877 to 1984. It still possesses a quiet dignity and reliability that is mostly absent from the ranks of its many current competitors. No wonder its stock is deemed quite safe.The craving for novelty and vivid spectacle can be a force for socioeconomic good, as the undeniable accomplishments of our tech industry attest, but the downside of such everyday wizardry is simply that ordinary investors must somehow discriminate between authentic high-tech gems on the one hand, and a horde of fancily named failures on the other.
It’s an onerous task. Conclusion: Boring AT&T is safe.
Frank W. Goheen
Camas
