Here's an article in the October, 2001 Washington Monthly that says that Qwest, the telecommunication company, and the other 'Baby Bells' are one of the big reasons the economy isn't doing so well right now.

The article also discusses the lack of understanding in the current government for the differences between technology/telecom companies and energy companies, massive overbuilding of telecom infrastructure, slow adoption of broadband technology, and subsequent bankruptcies from companies failing to deliver.

Interesting read.