8 Aug
2001
8 Aug
'01
10:53 a.m.
And just in case anyone is curious, this is a potential scenario for many struggling telco startups. (Bankruptcy to clear debt and eliminate interest payments so there there is at least a CHANCE to pull ahead.) -Wayne On Wed, Aug 08, 2001 at 10:45:15AM -0400, Nathan Stratton wrote:
On Wed, 8 Aug 2001, Smith, Rick wrote:
Just found this...
As someone who has 14 DS3s into their network I think this is very good news. Covad was crushed with $160 million a year payments on $1.3 billion in debt. That now all gets converted into common stock (sucks for common shareholders) and everything is reset. This lowers cash needed to break even down to $200 million from $400 million.
-Nathan