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New York: AMACOM, 2005
HE7775 .H33 2005
For decades, advocates of an unfettered telecommunications market pushed for deregulation. When at last it came, the explosion of growth dwarfed even that of the concurrent Internet boom. But as with so many dot-coms, a huge number of players in the new telecom games entered the fray with faulty business plans, temperamental investors, and insufficient strategy to maintain the momentum of that first Big Bang. And while many dot-coms were pure e-businesses with tiny staffs and little infrastructure, the telecoms were real companies employing thousands of people and providing vital services. The largest dot-com failures rarely topped $1 billion. Compare that to the huge flameout of WorldCom: $30 billion.
The combination of easy money, newly opened markets, and uncontroled deregulation created a perfect storm that sent an entire industry spinning out of control and caused many businesspeople - honest and dishonest - to propose, fund, and carry out ventures designed to change the way the telecommunications industry worked. Now, even though more than 100 telecommunications companies have gone bankrupt, deregulation is still the order of the day, and the picture has not grown any rosier for customers or invenstors. Are we headed for another implosion?
Telebomb describes the origins of this chaos and follows each of the long-term trends that originated in the mid-1990s. This thought-provoking book, written by an industry insider, draws conclusions about the ultimate winners and losers during and after what the author aptly refers to as the "telebomb." After analyzing the effects of the Telecommunications Act of 1996, the book takes a much-needed look forward to explore how the industry must change to become more responsive to customers and more profitable for investors - and to prevent another telebomb.
Quoted from dust jacket.