Down to the wireless: in telecom, wireless sees healthiest future.

Buyside, June, 2002 by Chensvold, Christian M.

The notion that everything is relative is a hallmark of modern thought. But some things are not dependent upon subjective interpretation. These are known as facts, and it's a fact that over the past year the telecom industry has experienced the market equivalent of the Alamo.

This is probably the worst 12-month period ever for telecom, says Kevin Calabrese of Argus Research Corp. Plummetting valuations, debt burdens, slow sales and accounting and regulatory issues have not just put a dark cloud over the industry, but have mired it in a torrential downpour.

Take long distance. The past few years have brought enormous competition. And while it is easing, regional operators are also adding long-distance services, resulting in a greater number of...

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