Some say more service providers probably will head to bankruptcy court. And as those businesses are acquired by stronger rivals, purchasing their assets for pennies on the dollar, the industry may face even more tension caused by players that have the opportunity to operate at far lower costs. The scenario is already being played out. Big telecom companies have been slashing their staffs even more swiftly than they built them up during the boom. Many dismissed workers are struggling to regain their footing because companies are not hiring.
Telecom is down the tubes.
E-business is down the tubes. Wireless is on hold. But experts say the downturn will not last nearly as long as the crash driven by real estate because wireless phone service and Internet use are growing at phenomenal rates. The rest of the economy continues to do well, as indicated by recent figures that peg the nation's growth at an annual 2 percent for the first quarter. Dallas-Fort Worth led the nation in new jobs for the year ending March 31, adding 104,500.