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| Telecom Tsunami by Jeremy at 12:41 pm EDT, May 21, 2002 | |||
There is no question that these are challenging times for the telecommunications industry and telecommunications investors. The tidal wave of troubles that hit telecom came hard and fast. We have seen an unprecedented number of telecom bankruptcies. We can all debate the causes of the telecom tsunami. My purpose today is not to rummage through the past in hopes of gleaning lessons for the future. My purpose today is to highlight for you what I see as the major challenges ahead. In so doing, I am hoping that you on Wall Street will join us on Pennsylvania Avenue in tackling these challenges. ... Our goal is a bright future for the telecom industry. You are attentive observers of the telecom industry. Our process is to gather as much relevant input as we can ... You watch what happens out there and probably have a pretty good idea of why certain businesses and technologies are succeeding and others are not. Now is your chance to be part of the solution and to help ensure a future for the telecom industry we can all be proud of. This is a May 8 speech given at a Goldman Sachs conference on global communications by the assistant secretary of the NTIA. | |||
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