WorldCom Spending Call Rings the Slowdown Bell

With the WorldCom (WCOM Quote) numbers in, it looks like equipment spending by the big service providers will be flat this year.

And that's the good news.

The bad news is that many of the remaining phone companies, Internet service providers and cable companies, stricken by a flight of support in the stock and debt markets, have shifted to survival mode and slashed their capital budgets. Names like Genuity (GENU Quote), PsiNet (PSIX Quote) and Teligent (TGNT Quote) don't exactly make up a robust junior varsity squad. ...