The New York Times (reg. req.) profiles the successful and innovative telecommunications company IDT (For IDT, the Big Flameouts Light Its Fire). IDT (NYSE: IDT) pioneered international telephone call-back service, allowing individuals in foreign countries to avoid the high cost of local government monopolies. More recently, IDT also developed one of the first Internet telephony services - Net2Phone. By staying lean and mean, IDT has managed to succeed where many other telecommunications companies have failed over the past few years. They are certainly a company to watch, especially as they move into conventional media. Favorite quote from Howard S. Jonas, Chairman of IDT, "Sure I want to be the biggest telecom company in the world, but it's just a commodity. I want to be able to form opinion. By controlling the pipe, you can eventually get control of the content. If anyone can make it work, we can." In other news, famed telecommunications high-flyer Global Crossing filed for bankruptcy according to a Reuters wirestory in the Washington Post's Washtech.com section (Global Crossing Files Bankruptcy, Gets Investment).