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Windham Info > Message Board > Fairpoint = chapter 11
 
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citizen51
Registered: 03/12/08
Posts: 81

    10/27/09 at 02:03 PM
  #1

No one saw this coming, right?  Thanks NH PUC!  As long as my fiber service is unscathed and I can avoid ComCast, I'm good.  Hopefully Verizon buys it back at the eventual fire sale.  They are kidding themselves if they think they can get out of this mess.  Like the unions are gonna make any concessions.

http://www.eagletribune.com/archivesearch/local_story_299103054.html
and
http://www.eagletribune.com/archivesearch/local_story_300023852.html


viper77
Registered: 06/13/05
Posts: 163

    10/27/09 at 05:59 PM
  #2

Verizon took a 60% ownership of Fairpoint when they spun off the three states.

twit22
Registered: 10/07/07
Posts: 1,767

    10/27/09 at 07:01 PM
  #3

I hope you guys get Verizon..It was good for the net. But for the longest time, I tried to get it in Windham and could not. Now maybe you will, but if they own 60% of Fairpoint I wonder where they sit with this chapter 11 deal?

I had to get Comcast down here, no Verizon unless it is a dish, and Comcast bundle which is what you have to do actually or pay an arm and 3 legs is terrible. I hope Verizon goes via cable lines vs. the dish as we had problems with that in NH when it snowed, windy etc...How do these things happen? How bad was the Management, apparently really bad. Jeez this is getting wild. Wonder how many other known companies are on the brink of chapter 11 or 7?

edited::

 
citizen51
Registered: 03/12/08
Posts: 81

    10/27/09 at 09:11 PM
  #4

Here's an article that says that Verizon would own 60% of the company, which would be branded Fairpoint:
http://www.cellphoneguru.net/carrier/verizon/fairpoint-acquires-verizon-phone-lines/

But here's an article from Verizon's investor relations site that says that the Verizon shareholders would own 60% of Fairpoint:
http://investor.verizon.com/news/view.aspx?NewsID=876

That is different than Verizon owning 60% of the company, no?
viper77
Registered: 06/13/05
Posts: 163

    10/28/09 at 08:41 AM
  #5

It looks like I stand corrected.

I've heard talk that AT&T might be looking at buying up Fairpoint.
husky96
Registered: 11/06/09
Posts: 7

    11/06/09 at 05:06 PM
  #6

Fairpoint is a mess both internally, as they bit-off more than they could chew from a financial standpoint, and externally as they could not handle the size of the operations they bought.  It took me 6 months last year to get a bill fixed, even after they admitted that I was right.   Not sure how valid the talk of FairPoint being purchased by Verizon or AT&T.  Talk on the Street is that both are mad at FairPoint since both firms had planned on selling-off more rural landlines, but the FairPoint mess has caused the Fed to look closely at any new deals.

crankyoldguy
Registered: 02/23/07
Posts: 666

    11/06/09 at 07:20 PM
  #7

Does anybody else remember the t.v. adds promoting the Fair Point deal?  It had powerful marketing b.s. written all over it and immediately reminded me of that old adage, "if it sounds too good to be true, it probably is."  I wish I'd bet in it.

ROTFL
Registered: 03/30/06
Posts: 142

    11/07/09 at 07:51 AM
  #8

The whole reason Verizon did the FairPoint scam in the first place was to get out from under federal requirements to bring high speed service to rural areas. (Requirements they agreed to in order to be allowed to compete with cable companies in the highly profitable urban areas.) The only way they will buy it back is if the government forces them to.


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