As soon as Verizon Wireless (VZ) cut prices on its wireless calling plans last week, smaller competitor AT&T (T) did the same. Or, should we say, Verizon and AT&T simply rearranged pricing plans to grab psychological mind share more than anything.

As voice becomes something used less every year (while data use skyrockets), charging less for voice calls and more for data features is simply moving things around. Looks better for the customer, but makes little to any difference in revenue for the wireless carrier.

AT&T, Inc. (T) has been getting itself into a wad about recent commercials from larger competitor Verizon Wireless. In those ads, Verizon touts its advanced 3G wireless coverage over AT&T's tepid 3G coverage as a way to battle the ubiquitous popularity of the Apple (AAPL) iPhone that no carrier seems to be able an unseat as the phone to exclusively sell.

AT&T, Inc. (NYSE: T) has seen incredible gain on the back of the Apple iPhone in the last two years. So much, in fact, that its national wireless network is most likely strained -- causing many an iPhone customer to constantly have problems with their service.

Alltel Wireless, which is in the midst of being acquired by Verizon Wireless (making the carrier the largest in the U.S.), wants to shake up the wireless industry of sorts. How? Require one-year contracts for its new wireless subscribers without raising the subsidized prices of its wireless handsets.

Apple, Inc. (NASDAQ: AAPL) could sell twice as many iPhones if it decided to dump partner AT&T, Inc. (NYSE: T) as the only exclusive provider of the iPhone, according to some Bernstein Research analysts. Would Apple dare do that? Since Apple and AT&T joined exclusive forces almost two years ago, Verizon Wireless has emerged as the largest wireless carrier in the U.S. -- and none of its 87+ million subscribers has an iPhone. Mighty tempting, Apple.

Sprint Nextel Corp. (NYSE: S), the trying to be the"comeback kid" under CEO and telecom vet Dan Hesse, just lost another swath of customers in its latest quarter. The company reported almost an almost $600 million net loss in its latest quarter as its postpaid (contract) customers continue to defect to the competition.

All in all, this quarter wasn't as bad for Sprint as previous quarters. The third-largest wireless carrier in the U.S lost 182,000 wireless customers last quarter, leaving it with under 50 million total wireless customers. Still, the last quarter of 2008 saw Sprint lose about 1.3 million customers, so this past quarter was quite the marked improvement.

Verizon Wireless, a division of Verizon Communications, Inc. (NYSE: VZ), and Microsoft Corporation (NASDAQ: MSFT) may be partnering soon to take on the Apple, Inc. (NASDAQ: AAPL) iPhone. The iPhone, which has re-defined the mobile handset and has racked up huge sales worldwide in the 22 months in existence, needs a strong competitor. So far, all the iPhone "killers" have been anything but.

When Sprint Nextel Corp. (NYSE: S) launched the $50 all-you-can-eat wireless plan with its Boost Mobile prepaid brand back in January, it was a shock to the wireless industry. Indeed, prepaid wireless generally is more expensive and less feature-laden than contract wireless in the U.S. But not even contract wireless plans that featured unlimited talking/texting/web access could be found for $50. What was Sprint Nextel trying to do? Cannibalize itself?

Verizon Wireless, a unit of Verizon Communications Inc. (NYSE: VZ) closed on the $28.1 billion acquisition of wireless rival Alltel Wireless late last week and is now the largest wireless company in the U.S., leapfrogging AT&T, Inc. (NYSE: T). The purchase amount includes $5.9 billion in equity and $22.2 billion in debt from TPG Capital, which had purchased Alltel for $27.5 billion in the spring of 2008.

Although it was a short-term deal that TPG Capital was after (it made some money, after all), Verizon is once again the top dog in U.S. wireless service. For some reason, the industry is insisting on combining all kinds of competitors to leave just a handful of them to serve customers. Will this combination be in the best interest of consumers? It doesn't matter. Like most mergers, it is meant to bring in more revenue and try to stem the losses Verizon Wireless has seen since AT&T became the exclusive distributor for Apple, Inc.'s (NASDAQ: AAPL) enormously successful iPhone.

Verizon's customer base of more than 83 million customers will now be the force to reckon with when newer devices are created by manufacturers and wireless carriers are looked at as release partners. With Verizon and Alltel both using the same technical standard -- unlike the disastrous Sprint and Nextel merger of 2005 -- this new entity is setting itself up from the start to be the pre-eminent wireless company in North America. Let's see if it can remain that way.

"Investors have been focusing on the shortcomings at Qwest Communications International (NYSE: Q), and to be sure, it has plenty," observes turnaround specialist George Putnam.

In his The Turnaround Letter, he adds, "But the company also has very valuable assets and strong cash flow. In addition, we believe the stock would command a good premium in a takeover." Here's his bullish review.

"Following its IPO in 1995, Qwest expanded via acquisitions and partnerships, and participated in the telecom bubble of the late 1990's.

"Unlike many of the other high-flying telecoms of that era, however, Qwest realized that in addition to a story you needed customers. In 2000, it went out and acquired US West, which gave Qwest the revenue base to survive the bursting of the telecom bubble

"Although the company survived, the shareholders have had a rocky ride during the current decade. The stock peaked around 60 in 2000, dropped to just above 1 in 2002, rebounded to 10 in 2007 and then declined to its present level.

"Management's challenge is too maximize the value of its assets. One of Qwest's greatest assets, and biggest challenges, is its huge traditional landline telephone business. The landline business is in a slow but steady decline as customers move to wireless or Internet telephony.

Reasons abound for security protocol surrounding cell phone records at the major carriers. Consumers just don't like hearing about privacy breaches. But as the presidential office moves into the wired age, for the first time a President-elect is a red flag going off in Verizon Communications (NYSE: VZ)'s face.

A personal cell phone account owned by Barack Obama (but that has been inactive for several months) was confirmed to have been accessed by "several" of Verizon's employees -- all of whom have been placed on administrative paid leave pending an internal investigation into which did so for a good reason.

While it's easy to imagine the thrill that might accompany viewing the phone calls of the President-elect (how many minutes to that number in Chappaqua, New York in June?), it's also easy to imagine the potential damage that could arise from such illegal access, both to Obama (or any candidate) and to the trust the public places in its cell phone carriers. Verizon is right to have taken action and made the news public; but the company should have put more preventative measures in place to ensure its sensitive customers' data was secure.

Microsoft Corp. (NASDAQ: MSFT) is talking to Verizon Wireless in an effort to replace Google, Inc. (NASDAQ: GOOG) as the default mobile search provider on the second-largest wireless network in the U.S. Why does Microsoft want this? Because, it has lost the web search business to Google on the PC screen -- so perhaps it thinks it can compete better (or win) the web search race on the cellphone screen.

Google CEO Eric Schmidt has reminded the world that Google's next large focus is on the mobile market. Although mobile search and mobile web browsing has taken a while to gain steam, the sheer number of mobile devices with internet connectivity dwarfs the PC market. Google and Microsoft are both licking their chops over this one.

So, it's kind of like entering the web search market back in 1988 here -- whichever company can seal as many deals to become the de-facto mobile search and information portal for major wireless companies will own the space. It's the same argument that has stood for a while in the PC market: consumers will use whatever default software or services offered on the device they just bought. Why type in "google.com" on your cellphone or smartphone keypad if Microsoft's search is right there waiting for you? Seeing that Verizon Wireless doesn't have an outside partnership for mobile web searches, this may be a huge battle that gets little attention -- but that doesn't mean it's not important.

While AT&T, Inc. (NYSE: T) continues to bask in the sunlight of huge iPhone 3G sales, competitor Verizon Wireless isn't doing too shabby, either. In fact, one analyst says both wireless carriers are stealing all the customers and thunder from the other wireless carriers in the U.S. and riding off into the sunset. Those other wireless carriers? They're stuck eating dust at the moment.

Craig Moffett of Bernstein Research mentioned the U.S. economic slowdown as magnifying the effect, while stating "There simply isn't enough growth left in the market to support all players." He's right -- carriers like Sprint Nextel Corp. (NYSE: S) have been struggling for quite some time (even installing a new CEO), and fourth-largest carrier T-Mobile is just standing by gaining customers as needed. At the same time, AT&T and Verizon Wireless continue to grow. Remember, these are the remnants of the old telco companies that are now becoming monopolistic just as they were in the 1980s with the landline telephone market. Yes, I said monopolistic.

Moffett added that the rapid decline in voice spending with wireless carriers has not been made up, as hoped, with wireless data and texting revenues (even with rising prices). Moffett then added, "That makes subscriber growth -- again -- virtually the sole growth engine for the U.S. wireless industry." With wireless maturing as an industry, are there growth times ahead, or just a consolidation of carriers as all markets are saturated? Growth, especially in 2009, will be hard to come by.

Verizon Communications Inc. (NYSE: VZ) today reported better-than-expected second quarter results, fueled by growth in its wireless and FioS TV and Internet customers.

Net income rose 12% to $1.88 billion, or 66 cents a share, from $1.68 billion, or 58 cents, a year earlier, according to the New York-based company. Sales rose 3.7% to $24.1 billion. Excluding one-time costs, profit was 67 cents, two cents ahead of the 65-cents expected by analysts surveyed by Bloomberg News. Sales were slightly below the $24.2 billion Bloomberg estimate.

"Our second quarter results were on track with our business plan, and top- and bottom-line growth remained solid," said Chief Executive Officer Ivan Seidenberg in the earnings press release. "We remain focused on steady improvements in revenue growth and productivity that will increase profitability and cash flows and create future opportunities to enhance shareholder returns."

Among the highlights:

• 1.5 million net customer additions for the wireless business;
• Wireless churn of 1.12%, 0.83% retail post-paid churn;
• 11.8 percent increase in total revenues; data revenues up 45.3%
• 176,000 net new FiOS TV customers and 187,000 net new FiOS Internet customers

Going forward, it will be interesting to see if consumers, who are already stretched thin, begin holding off on ordering FiOS even if the service is superior to cable. Also, will stressed consumers quit the service because they are worried about more pressing needs like their mortgage?

Dark Knight, the Batman movie starring Heath Ledger, did boffo box office: $158.3 million, according to Defamer. But this blockbuster will not just benefit Warner Brothers and DC Comics, which share parent Time Warner Inc. (NYSE: TWX) with BloggingStocks. There are at least six companies that will benefit from Dark Knight's success. According to Seeking Alpha, these companies include:

• Time Warner -- through its Warner Brothers and DC Comics subsidiaries are profiting most directly.
• Comcast Corporation (NYSE: CMCSA) partnered with Warner Bros. to offer "behind-the-scenes footage, trailers, and mini movies on demand"
• Verizon Communications, Inc. (NYSE: VZ) and Nokia Corporation (NYSE: NOK) collaborated in creating the Nokia6205 The Dark Knight Edition. Seeking Alpha reports that "This batphone targets superfans, with bat wallpaper, voice tones, screensavers, and the film's trailer pre-loaded."