Level 3's CEO Talks Telecom

James Crowe on why he believes his outfit has what it takes to ride out tough times -- and why it doesn't pay to mislead investors

How low can telecom go? "We're within a few feet of the bottom of the ocean," says James Q. Crowe, president and chief executive officer of data carrier Level 3 Communications (LVLT ). Indeed, the industry has been beset of late by bankruptcy filings, concerns about companies' financial viability, and questions about accounting indiscretions.

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