We have lived through tempests and tumult over the past year. At Bell Canada, the country’s largest telecommunications undertaking, we have seen changes in leadership, changes in corporate emphasis and direction, and changes in workforce – the only constant at Bell seems to be the company’s ability to thrive and prosper. The Bell Canada portion of BCE remains a source of solace to the bemused BCE shareholder.

The cable and satellite ‘signal provision’ business seemed (relative to the general telecom environment) quiet – even banal, this year – although a late season outrage against the inroads of signal privateers suggests a more bellicose 2003. In the wireless world, Canadian’s hold-theircollective-breath as we await news of Fido’s future – to see if ‘the little company that could’, will.

While Microcell negotiates (and pleads) with bankers, the rest of the wireless industry ponders the implications of the WiFi revolution to their expensive 3G business models. Investment analysts question if the wonders of SMS and wireless picture transmission will lift industry income statements in the manner of a Bay of Fundy tide.

2002. Yes, we have indeed had an interesting (albeit, interesting in the sense, we are told, the Chinese use the term) time over the past twelve months. For those who may have forgotten some of the “high”lights, Exhibit 1, below, may bring back some of the memories – similar, perhaps, to the way that some of the companies on our death watch, 360 Networks and Group Telecom being notable, returned to fight again.