Telecom Collapse?

[alex at corp.nac.net (Alex Rubenstein)]

And it gets better:

AT&T to reduce workforce by 12,000 - AT&T Inc. will layoff 12,000 of its employees, or 4 percent of its total workforce, in response to recent economic pressures.

Sprint/Nextel has had negative net income of $326mm, $829mm, and $505mm for the last three quarters.

Verizon seems to be doing alright, about a billion in net income each quarter. 

GBLX has had negative net income of about $70mm each of the last three quarters.

L3 has been doing slightly worse.

I am sure Q4 numbers aren't going to be great.

I hadn't thought about this, but it's going to be pretty interesting the next year or so.