It is rare to hear a note of optimism in the midst of the current financial crisis. But Verizon Communications CEO Ivan Seidenberg, for one, seems unfazed by problems in the financial services industry or 1,000-point intraday swings in the Dow Jones Industrial Average. What enables Seidenberg to stay unconcerned is the relative success of the telecommunications industry, once seen as a disastrous minefield of overleveraged, barely solvent companies. Even with the credit crisis, the telecommunications industry is in better shape than it has ever been in. It is now competitive, relatively flush with subscribers and strategic options. Seidenberg even...