Fred from Union Square Ventures laid out a pretty interesting post on how the Yellow Page industry is such a waste. There are some pretty humorous posts on what ends up happening with the Yellow Pages when most Local Search is moving online.
He speaks for a lot of us when he says "I haven't used the Yellow Pages in ten years and every year I have to throw them out."
The founder of How Stuff Works says in this post "There's the $1 billion dollars wasted printing them. There's the 1.5 billion pounds of paper -- untold square miles of forest. There's the millions of gallons of gasoline spent transporting and delivering them. All of that wasted because they could be delivered electronically in one way or another with very little cost and very little environmental impact."
In the end the Yellow Pages as a business will not work much longer, and in the meantime they are taking every dime they can from local businesses for a product that does not deliver powerful results.