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| Telecom Bankruptcy Wave May Become Self-Perpetuating by Jeremy at 7:45 am EDT, Jul 25, 2002 | |||
As a handful of telecommunications companies begin to trickle out of bankruptcy protection, analysts fear their financial reorganizations could have unintended consequences that exacerbate the industrywide meltdown. The spate of bankruptcy filings so far is doing little to solve the industry's underlying problem. So far, only a tiny fraction of telecommunications companies have survived bankruptcy protection. But those that have are going to make their presence known. Meta Group: "There's a theory that ... bankruptcy [is] a healthy move and a way to wipe away the debt. But the probability of that happening is very low." Another analyst: "The problem here is that networks never go away. As each of these guys go bankrupt, the pain spreads to everybody else." The LA Times gives its readers a lesson in Telecom 101. Welcome to the real world, people; it's over. | |||
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