Time4aNAP
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join:2007-04-09
Des Plaines, IL
| Who is Fairpoint?
I can't believe that any company would knowingly and willingly take a sucker's deal like that. True, IBM allowed a little company called Microsoft to make the deal of a lifetime with them, but that's a hindsight perspective. IBM didn't know that their PC would be any more popular than their previous microcomputer attempts. In this case it looks like Fairpoint is signing a contract that has "WE'RE RIPPING YOU OFF!" in 36-point type at the top of every page of the contract. There must be more to this story.
Who is behind Fairpoint, and who are they connected with? With a name like Fairpoint, it even sounds like a sham. If they have to put in their corporate name, it's something that they're not, as a rule.
Who wants to wager when Fairpoint applies with the USDA for some very large loans?
Who wants to wager how long it will be after that before the company files Chapter 7? |
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TKJunkMail
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join:2002-03-03
Avalon, NJ
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| said by Time4aNAP  :Who is behind Fairpoint, and who are they connected with? With a name like Fairpoint, it even sounds like a sham. If they have to put in their corporate name, it's something that they're not, as a rule. Fairpoint Communications, Inc. is the OFFICIAL and legal name of the corporation.
And who owns the stock?
The biggest owners are the mgt firms for mutual funds and the mgt team also owns big pieces:
»library.corporate-ir.net/library···N10K.pdf
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Time4aNAP
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join:2007-04-09
Des Plaines, IL
| LOL...Fairpoint "merged" with Verizon, so it's now Verizon. Spinco and Taconic are wholly-owned subsidiaries of Verizon, so every single bit of this is owned and operated by Verizon.
So...if Verizon is using Verizon to give Verizon a tax break and make a lot of debt magically disappear, who ends up with the liabilities?
The answer is in the mirror. |
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TKJunkMail
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Avalon, NJ
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| 1st - the question I answered was who in Fairpoint benefits.
2nd - Spinco will be spun off and will be merged in to Fairpoint. Not the other way around. Fairpoint will not be a subsidiary of Verizon. And the shareholders of Spinco will be anyone who currently holds Verizon stock - they will get Spinco shares. This means an extremely wide distribution of shares. Fairpoint directors will maintain control of Fairpoint.
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Time4aNAP
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join:2007-04-09
Des Plaines, IL
| said by TKJunkMail :1st - the question I answered was who in Fairpoint benefits. O...K... Why should I care? (That's rhetorical, don't answer it.) I didn't ask that question, nor did I ask about your answer. 
2nd - Spinco will be spun off and will be merged in to Fairpoint. Not the other way around. Fairpoint will not be a subsidiary of Verizon. And the shareholders of Spinco will be anyone who currently holds Verizon stock - they will get Spinco shares. This means an extremely wide distribution of shares. Fairpoint directors will maintain control of Fairpoint. We'll see, when and if it happens. Right now, Fairpoint and Verizon are one and the same. That makes this tax and debt scheme nothing but a shell game, regardless of what the final structure is. |
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NHpublius
join:2007-05-18
Manchester, NH | reply to TKJunkMail
TCH... and who are those "fairpoint" directors going to be? There are going to be 9 of them, right? and aren't 6 going to be appointed by Verizon?
Don't bother to answer the questions.. I know the answers |
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