Summary

By April 2001, 17 CLECs out of a total of approximately 410 in the United States either had ceased operations or filed for Chapter 11 bankruptcy. A majority of the remaining companies are operating at a loss and investors are leery of investing in them. Economic reverberations of business failures were felt beyond telecommunications. According to PriceWaterhouse Coopers, 36% of total first through third quarter investments by venture capitalists were for telecommunications. The article, “Telecom Tightrope,” published in Barron's Online, 8 January 2001, by Jacqueline Doherty reported that total investment in telecommunications in 2000 was $157.4 billion. Poor performance by telecommunications companies has an impact on banks, stock and ...

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