IP: Too Much, Too Soon for Telecom

[Dave Farber <dave () farber net>]

------ Forwarded Message
From: Bret Fausett <fausett () lextext com>
Date: Sun, 30 Jun 2002 15:47:37 -0700
To: Dave Farber <dave () farber net>
Subject: Too Much, Too Soon for Telecom

TOO MUCH, TOO SOON FOR TELECOM

      By KAREN KAPLAN and JON HEALEY, TIMES STAFF WRITERS

> From 1996 to 2001, the telecommunications industry spent nearly half a
trillion dollars building a monumental high-tech network to ferry phone
calls, e-mail and faxes around the world at the speed of light.

But that investment--roughly twice what the federal government spent on the
interstate highway system over the last 50 years--turned out to be a far
bigger bust than anyone expected.

And the nearly $300 billion in debt that piled up during this dramatic
build-out is wrapped like an anchor around the neck of the sinking telecom
industry as it suffers one of the most dramatic collapses in U.S. corporate
history.

http://www.latimes.com/business/la-fi-billions30jun30.story


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