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This page contains all of the posts and discussion on MemeStreams referencing the following web page: Telecom Outlook: First the Bad News, Then the Bad News. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Telecom Outlook: First the Bad News, Then the Bad News
by Jeremy at 5:28 am EDT, Jun 18, 2002

The turmoil continues in telecommunications, making the long-awaited turnaround increasingly difficult to call. Indeed, in light of a wave of bad news last week and through the weekend, some analysts say the industry's problems could actually become worse before they become better.

Joe Nacchio leaves Qwest; XO files for bankruptcy; Lucent's sales decline 15% in a single quarter; Sprint's debt is nearly junk.

Analyst: "I foresee a near total collapse as the endgame."

Another: "The magnitude of the problem is enormous." 24 of 29 top US telecom companies that have not yet filed for bankruptcy are at risk of doing so in coming months.

A banker's view: "Let the ailing networks rot."

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