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News Release
May 10, 2002
CONTACT: David Fish
(202) 289-8928

The Telecom Meltdown: Causes & Cures 
Congressional Seminar Scheduled for Friday, May 17 

WASHINGTON, D.C. - The telecommunications sector – one of the most important sectors of the U.S. economy – has experienced major declines in stock prices and capital spending and significant increases in layoffs and bankruptcies. In fact, the problems in the telecom sector are a major cause of the current economic slowdown. How did this happen, and how will the sector find its way out of the doldrums?

A panel of experts will answer those questions and others at a Congressional Seminar hosted by The Progress & Freedom Foundation on Friday, May 17, “The Telecom Meltdown: Causes and Cures.” It will take place in Rayburn House Office Building, Room B369, from 12:00 – 2:00 p.m.

Featured panelists include: Thomas M. Lenard, Vice President for Research at The Progress & Freedom Foundation; Terry Barnich, Managing Director of New Paradigm Resources Group; Larry Darby, adjunct fellow at The Progress & Freedom Foundation and head of Darby Associates; and Blair Levin, Managing Director of Legg Mason Equity Research. The moderator will be Randolph J. May, Senior Fellow and Director of Communications Policy Studies at The Progress & Freedom Foundation.

“The telecommunications sector led the economy on the way down, and is a significant cause of the current slowdown,” Lenard said. “If we are to enjoy a robust economic recovery, the telecommunications sector will have to be revived.”

Those interested in attending the Congressional Seminar should register by contacting Eileen Goulding at 202-289-8928 or

The Progress & Freedom Foundation is a market-oriented think tank that studies the digital revolution and its implications for public policy. It is a 501(c)(3) research & educational organization.



The Progress & Freedom Foundation