This brief report discusses the fact that airlines are dropping nonstop flights even to and from major cities like New York. For business, this is devastating, as the increased cost of tickets can, to some extent, be moderated via other cost-cutting measures. But sending business people on trips that take all day instead of three or four hours is devastating, because you can't recover the lost time spent traveling.
Like it or not, business videoconferencing is going to become much more important more quickly, and bandwidth (or the lack of it) will determine how much it is used in any particular community or business area.