[1] http://archive.wired.com/wired/archive/4.12/ffglass_pr.html
Edit: Also, it's written by Neal Stephenson for whatever that's worth.
I consider it my small contribution to the world to make sure as many nerds as possible get to read that story.
Fantastic bit of journalism.
Kevin Kelly maintains a great list at http://kk.org/cooltools/best-magazine-articles-ever. Apparently he likes David Foster Wallace...
Edit: this is what it actually gives you as an answer in that article:
"The answer has to do with slack control. And most of what is known about slack control is known by Cable & Wireless Marine. AT&T presumably knows about slack control too, but Cable & Wireless Marine has twice as many ships and dominates the deep-sea cable-laying industry. The Japanese can lay cable in shallow water and can repair it anywhere. But the reality is that when you want to slam a few thousand kilometers of state-of-the-art optical fiber across a major ocean, you call Cable & Wireless Marine, based in England. That is pretty much what FLAG did several years ago."
"Beyond 1500 meters from the shoreline, builders typically lay unarmored cable directly on the seabed ... a few reach depths greater than 8000 meters."