Dylan Tweney thinks the dot-bomb should be called the telebomb:
When I asked executive outplacement firm Challenger, Gray & Christmas about this earlier this year, they told me that ten times as many people lost jobs in the telecom sector as had been laid off in the Internet/dot com sector. In other words, the years 2001-2002 were the telebomb, not dot-bomb.
Yup. They blew a ton of cash during the boom.
Posted by jzawodn at August 18, 2003 07:46 PM
Almost exactly 10 years ago, I saw an interview with a telecom analyst at Bolt, Beranek & Newman, almost as an afterthought he tossed out that they had a $10k office betting pool on which company would be the first to lose $1billion in telecom. I wonder who won the bet. And of course, BBN no longer exists, another merger victim of the telecom bomb.
Egads. Dont' I know it. Nortel was the #2 or #3 employers around here. Lucent #5. And they are both mere shells of thier former selves.
Nortel in particular could waste money like a monopoly. I think they never stopped acting like the phone company they were. I'm just happy I got laid off in the first round, so I could still find a job.
You're right! It really should be called the "telebomb". Here in the Dallas, Texas area, where there used to be a "Telecom Corridor", a rather large area of Richardson, Texas, there's really now just a bunch of empty buildings. Although, it appears that things are beginning to pick up again, finally.
