The thinning of competition, along with the potential to whisk away customers from its suffering rivals, should allow AT&T to survive its own dubious investment of more than $100 billion to acquire cable assets. ... AT&T is an "attractive long-term deep-value play" ... Many analysts still fear a nightmarish possibility: that WorldCom and the rest of what Mr. Johnstone calls telecom's "living dead" -- companies reorganizing under Chapter 11 -- emerge from bankruptcy, relieved of their crushing debts and hungry enough for customers to cut prices sharply. Telecom Wreck Provides an Opening for AT&T | 
