I don't envy the FCC's job here. This is an incredibly tricky decision.

The industry has gotten the hell beaten out of it because of number portability. The market is assuming it's going to have a pretty negative impact. If and when it can be determined that number portability is a big or little deal is when you should make an investment decision.

Connection cost is a meaningful cost. If the usage would drop, it would reduce companies' connection cost, and they'd get a slight benefit to their margins.

It's a bit of a perfect storm for them right now. They seem to be stubbing their toe in a couple different ways.