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New Global Telecom Index Connects Investors to Dividends

As investors search for defensive stock investments and high dividend yields during the current bear market turmoil, they need look no further than telecom services companies. In contrast to many of the existing telecom ETFs (the four listed below are all down by about 40% on average in the last year) which have large positions in Verizon (VZ) and AT&T (T), the ETF Innovators [ETFI] Global Telco Dividend Income Index is structured as an equally-weighted, all-world index among the top 35 rated compani

Dialing for Dividends in Telcos

Although not completely immune from the current global economic slowdown, many telecom services companies are currently yielding higher amounts than tobacco companies and the Utilities Select Sector SPDR (XLU). Although many of the foreign telecom companies included in the ETFI Global Telco Services Dividend Income Index issued special one-time dividends over the past year which inflates their trailing 12-month yield; both Verizon (VZ) and AT&T (T) are currently yielding over 6% each while trading at multi-year lows.

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Sprint Nextel (S) executive John Garcia, head of its most important business unit, is leaving. His bio is already off Sprint's Web site. (Google cache.)

WSJ: Mr. Garcia is stepping down as head of the CDMA business, the unit that control's 70% of Sprint's customer base. The circumstances of Mr. Garcia's departure were not clear. The company spokeswoman declined to comment, and Mr. Garcia could not immediately be reached for comment.

Sprint has tapped Keith Cowan, president of strategy and corporate development, as an interim replacement for Mr. Garcia while it searches for a successor.

Sprint

Hundreds -- thousands? -- of people across the country are trying to buy new BlackBerry Storm gadgets at Verizon Wireless stores today, and many of them are talking about it on Twitter.

In fact, it seems some places are already sold out of the Storm. One guy, Derek McClain in Indiana, says Verizon (VZ) will offer free overnight shipping and a $50 instant rebate if you got stood up and want to order one. We haven't verified that, but it sounds plausible.

Here's a live stream of what people are saying about the Storm on Twitter. It might take a few seconds to load -- don't be alarmed.

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