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Chapter 645 The Beginning of the Harvest

On the first Monday of January, the suburbs of King County, New York, were shrouded in twilight.

The last rays of winter sunlight swept across the still-snowy lawn, casting long, slanted shadows on the walls of the rows of houses.

As Fresno stepped out of the car after the door opened, he felt a chill.

"I guess I should try out that new product from AI Technology. I wonder if it'll be any good," he muttered to himself before opening the door and walking into his home.

"Georgina, is that AiTech push snowplow you bought in the garage?"

"That's right, it's in that corner inside," his wife replied from the kitchen. "You can try it out; if it doesn't work, return it."

That was a new product that Axon Technologies released two months ago, around the same time as the iPod.

However, most media outlets focused on the iPod, and nobody cared about the sales of this snowplow.

However, it's understandable, as such products are only in high demand in the northeastern United States.

In states like New York, Illinois, and Massachusetts, most areas have regulations requiring that snow in front of houses must be cleared within four hours of a snowfall.

In other places, this product is not considered a necessity.

The reason I bought this AiTech snowplow is because it is twice as efficient as traditional snowplows.

Traditional diesel snowplows not only have an unpleasant odor but are also inefficient.

This snowplow from AiTech is powered by two high-power batteries, and the snowplow head is also specially customized.

According to GG, it is more than twice as efficient as traditional snowplows.

Nobody wants to be outside freezing in this snowy weather, and this new product was 10% off during Black Friday, so Georgina bought it.

Soon after, the sound of machinery could be heard outside.

When Georgina finished making dinner and went outside, she saw that the snow in the yard was almost completely cleared, and Fresno was doing the finishing touches by the roadside.

"That's much faster now." Georgina praised as she watched the other person push the snowplow back. "Let's eat first, we'll clean the snowplow later."

Fresno nodded, put the snowplow in the garage, and came back.

When Georgina took the gloves he had taken off, her gaze was immediately drawn to the name tag on his chest.

The familiar blue and white AT&T logo is gone, replaced by a sharp blue lightning bolt with the words "China Telecom" printed below.

"China Telecom?" Georgina's voice trembled as she tried to remain calm, but her brows furrowed involuntarily.

Fresno took off his snow-covered coat, hung it on the coat rack in the entryway, and nodded slightly. "From today onwards, our broadband business unit is officially separated from AT&T and acquired by Continental Telecom."

Georgina's heart sank. "Won't it be like 1984?"

The telecommunications industry breakup wave of 1984 was a nightmare for a generation. The U.S. Department of Justice broke up the massive AT&T under the Antitrust Act, which directly resulted in the layoff of 30% of its employees.

Although Fresno wasn't laid off at the time, the thought of those who were laid off made her feel uneasy.

Back then, countless families were torn apart and many people turned to alcohol to survive. Although they have all made it through, no one wants to suffer that kind of pain.

Fresno smiled wryly, "We are just pieces on the chessboard. Whether we become sacrifices is not something we can decide."

"Are they really going to lay off employees?" Georgina exclaimed in surprise.

Fresno had already changed his shoes, and with his arm around her shoulder, he walked into the house, saying with a smile, "This time is different. Not only will there be no layoffs, but we'll also be hiring."

He recalled the rumors circulating in the department during the day, and a glint of light flashed in his eyes. "Who knows, I might even be able to get a minor leadership position, Dangdang."

Georgina looked up abruptly, her eyes instantly lighting up with surprise. "What's going on?"

Fresno didn't hide anything and told them everything he had heard from the department manager and the discussions among his colleagues during the day: "It is said that it is Continental Telecom's strategic plan to significantly expand the size of the engineering department after acquiring AT&T's broadband business, requiring the number of existing employees to be increased by at least 100%."

"The newly added regional team leader positions will be filled by promoting from among our existing employees, with priority given to seniority and technical skills."

His tone was filled with anticipation for the future, but then his expression darkened. "It might also mean we have to move and change our living environment."

Georgina's eyes lit up instantly. She knew that if Fresno really became the regional head, he wouldn't be in charge of their Brooklyn area anymore.

Forget about New York State; you'll likely be transferred to another region.

But it doesn't matter; for Americans, moving is just a normal part of life.

"As long as we have money, we can live well anywhere."

Fresno has worked at the Telephone & Telegraph Corporation for nearly twenty years, and he is top-notch in both experience and skills.

Currently, AT&T's broadband division has four major groups, which in turn have 16 subgroups. Each subgroup is responsible for line maintenance in a specific area during non-construction periods.

If the number of employees doubles, the number of corresponding teams will also expand accordingly, which means that 16 new team leader positions will be added.

Given Fresno's terms, she believed the other party could definitely secure a position as the leader of one of the groups.

At that time, his salary will increase by at least 30%.

Thinking of this, Georgina's face lit up with a long-lost smile, as if she could already see her husband in his brand-new uniform, working as a team leader.

However, her expression then changed again. "But what about the hearing?"

Not only did she ask this question, but Annie, watching TV, also had the same question.

However, she wasn't worried about whether the hearing would pass or not. Mainland Telecom only had one dedicated line from Chicago to Wall Street, and with the Telephone and Telegraph Corporation's broadband business, there was simply no possibility of business coverage.

In her view, the hearing was just a formality.

But why this format was adopted? Why did Wall Street do this? That's what she wanted to ask.

Since China Telecom and AT&T announced that they had reached an acquisition agreement to acquire AT&T's broadband business for $68 billion, the entire US media has been in an uproar.

The acquisition has dominated the front pages of major newspapers and prime-time television news, with all parties arguing endlessly and making a great fuss.

"Wasn't this already agreed upon?" Anne turned to Ernst. "Why is Wall Street making such a big fuss about it, even going so far as to involve the Department of Justice and hold this unnecessary hearing?"

Ernst put his arm around her slender waist, his fingertips gently tracing her hair, his gaze fixed on the television screen.

Looking at CNN's blatant propaganda about telecom monopolies, and their claims that history is repeating itself, only this time with different protagonists, I can't help but admire the hyenas on Wall Street and their ability to manipulate capital.

"You think this hearing is unnecessary?" Ernst asked with a smile.

"Of course," Anne shook her head. "It's a complete waste of government resources."

"The two companies have no overlap in their businesses and cannot form a market monopoly in the region. The acquisition is a sure thing."

Even if the acquisition is completed and China Telecom becomes one of the top ten broadband service providers in the United States, its market value will still be far behind those of the real telecom giants.

"If it's considered a monopoly, then what are those giants?"

Ernst nodded slightly, but disagreed, saying, "You're looking at this from the perspective of China Telecom, not from the perspective of the entire telecommunications industry and capital."

Annie thought for a moment, then looked up at him. "You mean, capital wants to use mainland China Telecom to tell the public that the telecommunications industry is developing normally, and that the monopoly situation that consumers are worried about will not happen again?"

Ernst watched a television debate about the acquisition of Continental Telecom and nodded, saying, "Over the past year, the average telecom tariff across the United States has increased by 18%, while service quality has declined by 22%, and consumer dissatisfaction is rising."

"Since the implementation of the Telecommunications Law in 1996, there have been more than 127 mergers and acquisitions in the telecommunications industry, increasing market concentration by 40%. Those telecommunications giants are only focused on frantic expansion and seizing market share, and they don't care about user experience at all."

"The telecommunications industry today appears to be a field of many powerful players, but in reality, it has long been secretly controlled by capital. Consumers may seem to have more choices, but in reality, no matter which company they choose, they face the fate of being exploited by Wall Street."

"Under these circumstances, public concerns about monopolies are growing stronger, and the government is also facing enormous public pressure."

"History is repeating itself." Ernst's voice was laced with sarcasm. "The players on Wall Street are masters at making huge profits from the constant coming together and splitting apart."

"Back then, they broke up AT&T under the guise of anti-monopoly, ushering in an era of fierce competition in the telecommunications industry. As companies raised their service fees, their market capitalization soared."

"What Wall Street is doing now is to bring back together these little guys that were broken up back then and made a fortune on their own, maybe three or maybe five."

"But one thing is certain: each of these re-integrated industry giants will have a market value exceeding that of the original Telephone and Telegraph Company."

"Even if we split the market and the market remains the same, the overall valuation of the industry can increase five times, ten times or even more."

"And ultimately, it is always the ordinary consumers who pay the price for all of this, accepting the increased fees without even realizing it."

"What about China Telecom? Will it also be acquired? Or will it expand through acquisitions and become one of the giants?" Annie asked.

Ernst picked up the remote control from the bedside table and said seriously, "I don't think you should be concerned about this right now."

"Then what are you concerned about?" Annie paused for a moment.

"Your horsemanship is so bad that I have serious doubts about your claim that you've been learning horsemanship since you were a child."

"Therefore, you need to practice diligently."

Annie blushed instantly, turned around and lay down, not daring to look at him.