If you're riveted by this week's episodes of "As Lehman Brothers Turns" or "AIGs of Our Lives," don't forget that the VoIP industry is feeling the consequences. Nortel Networks whacked its 2008 forecast today and said it would try to sell its metro Ethernet business. Revenue is now expected to be down 2 to 4 percent this year; previous estimates were 2.1 percent growth. The given reason is, of course, the economic slowdown. Even before this week's financial news, Nortel stock was down 75 percent this year.
Well, if all this gives you lack of sleep, then read this MarketWatch story for more information.
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