Telecom Chiefs See a Turn to Stability
Top U.S. telecommunications executives Thursday gave a mixed outlook on the economy, saying business conditions have stabilized but they don’t see signs of a quick recovery.
The telecom industry has been relatively shielded from the worst effects of the downturn thanks to the growing need for wireless and Internet services. But it isn’t completely immune, as carriers face continued landline losses, weak demand from businesses and pricing pressure in wireless.
“Stabilization” was the key buzzword for the heads of AT&T Inc. (T), Verizon Communications Inc. (VZ), Sprint Nextel Corp (S). and Qwest Communications International Inc. (Q), all of whom spoke Thursday at an investor conference hosted by Goldman Sachs.