Telecom Wreck Provides an Opening for AT&T "Although AT&T is not the monopoly it once was, the company may soon find itself at the top of the telecommunications pyramid again. After nearly two decades of deregulation that created new competition in every facet of its business, AT&T is still standing even as several upstart rivals — particularly those in the business of serving businesses — are mired in onerous debt, industry overcapacity or financial scandal."