[ex-VZ] Looks Like Fairpoint preparing for Chapter 11 To those in the public service areas of Fairpoint (New England) who may not have heard this please draw near.
FRP has used every excuse in the book to explain away terrible service levels.
You all have your personal horror stories. Perhaps I can shed some light on the real FRP. I am a VZ employee. I knew FRP would not be able to properly service our ex northern states, but VZ was sick of unprofitable rural markets and made a sweet legal deal with FRP on financing.
Under the new shell of FRP. now that VZ has legally turned over our ex VZ
employees to FRP they can play games with the state DPU on service levels and make plans to bankrupt the shell thereby nullifying the contract FRP made with the former VZ employees.
FRP has already set wheels into motion. They are issuing IOU's. in place of payroll to most former VZ people. They claimed they had payroll computer
program problems but now have changed their tune to claim not enough money to pay the IOU's right now.
Clearly this is posturing for Chapter 11 and breaking the union.