The collapse of the talks puts in doubt the ability of Global Crossing to continue in its current form, providing communications services to companies in 27 countries.

So long, Global Crossing ... and off to the chopping block it goes.

Talks Collapse on $750 Million Takeover of Global Crossing

NII Holdings Inc, which provides wireless telephone services in Latin American, said on Friday it had filed for Chapter 11 bankruptcy protection and planned a restructuring that will strip Nextel of its majority stake.

Nextel's NII Files for Chapter 11

Analyst [with haughty disgust]: "Worst. Results. Ever."
Another: "Even incumbents are not spending."

Ciena Loss Grows as Revenue Falls 80%

KPNQwest: "The company continues to believe that there is substantial risk that there may be no underlying value to either its debt or equity securities."

KPNQwest Is Seeking Bankruptcy

The industry appears to have created its own economy. Despite the recession, a prolonged technology slump and Sept. 11, sales of video game hardware, software and accessories increased 43 percent last year, to a record $9.4 billion.

Recession? Don't Tell the Video Game Industry

John J. Rigas and his family finally surrendered control yesterday of Adelphia. For the Rigases, giving up control of Adelphia because of growing turmoil about questionable dealings may be the last chapter of the family's involvement in a business they built into the nation's sixth-largest cable operator but pushed to the brink of ruin.

Rigas Family Is Giving Up Voting Control of Adelphia

Adelphia is close to a deal under which the Rigas family would give up all its board seats and supervoting rights and forgive $575 million in debt. The deal would also include either the transfer of $1.2 billion in cable assets to Adelphia or the cash flow from those properties, which is more than $90 million a year.

Got debt?

Adelphia and Rigas Family Continue Their Tug of War

... 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.

Telecom Tsunami

Despite mounting pressure from outside directors, bankers and others aimed at forcing the Rigas family to resign from the board of Adelphia Communications, the family is strongly resisting giving up its five seats.

The family is still stonewalling the SEC, and if this sufficiently irritates Nasdaq, this company is toast. Upon delisting, the bondholders will come swooping down on them. The author of this article claims that the bondholders are unlikely to press the issue, though.

Rigas Family Said to Resist Leaving Board of Adelphia

Corvis board member: "Near-term prospects are not bright for anybody, but there are significant opportunities overseas in Asian countries and in terrestrial and underseas markets in the Middle East and Africa."

I ask: Are you looking for your growth in undersea African markets? Does this sound like a reasonable short-term business plan?

This is a lengthy, in-depth article with lots of quotes from the latest shareholders meeting.

Corvis, waiting for the pickup