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In this picture, FLAG joins other cables at a landing station in Ninimiya, Japan. With its Britain-Japan cable complete, FLAG Europe-Asia went live in 1997. But by 2001, the Internet bubble had burst. Companies like FLAG and Alcatel had over-built for a broadband demand that never materialized. Struggling under more than $1 billion in debt, FLAG Telecom in April 2002 joined a list of bankrupt telecom companies that continues to grow -- and which so far includes such headline-grabbers as WorldCom, Global Crossing, Metromedia Fiber Network, Williams Communications, Viatel, Winstar Communications and PSInet. In June 2002, the company's once high-flying stock was selling for pennies a share.
Photo: Alex Tehrani
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