ress release, "Level 3 Communications and Union Pacific Railroad Sign Fiber Optic Right of Way Agreement," April 2, 1998. [6] Williams press release, "Williams Returns to its Roots With Launch of Wholesale Net- work Services for Nationwide Market," January 5, 1998. [7] Williams press release, "Williams Communications CEO Refutes Bandwidth Glut," June 12, 2001. [8] LMDS operates in the 27-32 GHz band, where the typical range is about two miles but link capacity is competitive with coaxial cable. [9] AT&T press release, March 2, 1992. [10] Stephenson, N., "Mother Earth Mother Board," Wired, October 1996. The North American SONET hierarchy measures bandwidth in "STS" capacity units of 51.84 Mbps, which are equal to one optical unit (OC). The European SDH hierarchy, almost the same in many technical respects, measures bandwidth in "STM" units of 155.52 Mbps, each equal to three OCs. Thus, STM-4 is the same bit rate as STS-12, also called OC-12. [12] Wavelength, of course, is the inverse of frequency; the optical spectrum is simply a higher part of the electromagnetic spectrum than radio waves. We perceive optical wavelengths as different colors, but fiber optics perform best in the infrared range. That is, approval by the state and FCC according to Section 271 of the Telecom Act, which releases them from the MFJ prohibition against providing interLATA services. Losing by Winning: Wireless License Auctions Although the move from monopoly to competition has arguably been the major force reshaping the telecommunications industry since the divestiture era, the most visible change may well have been the growth of wireless services. Mobile telephones were a rarity in the early 1980s; today, in many countries they out- number wireline phones, and even in the United States they represent a large share of the voice market. This growth has primarily been the result of techno- logical advances, but regulators worldwide have accommodated it by spectrum allocations and regulated network interconnection. But the rapid growth of th