| Deal excluded wireless network that Hawaiian Tel built What hampered post-sale Hawaiian Telcom was that Verizon KEPT Hawaiian Tel's wireless network and wireless customers. However, the bankruptcy filing was less about operating costs and churn and more about the debt load it had to carry to pay for the new owner's purchase of the company. |
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 SnowymIRC unix.ro UnderNetPremium
join:2003-04-05
Kailua, HI
kudos:5
 ·RoadRunner Cable
 ·Clearwire Wireless
| said by MNLM :
What hampered post-sale Hawaiian Telcom was that Verizon KEPT Hawaiian Tel's wireless network and wireless customers. However, the bankruptcy filing was less about operating costs and churn and more about the debt load it had to carry to pay for the new owner's purchase of the company.
It was a good way to shed a few billion dollars worth of debt that they never intended to pay off anyway.
The investors who lost every cent of their investment can now invest in a leaner/stronger company now.
I'm not making that up either. The day hawaiitelcom filed, the CEO said the note owners will not get even a penny back but he did suggest that hawaiitelcom is now a good investment & said the stock holders can now invest with confidence in hawaiitelcom. |
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 morboComplete Your Transaction
join:2002-01-22
00000 | said by Snowy:The investors who lost every cent of their investment can now invest in a leaner/stronger company now. I'm not making that up either. The day hawaiitelcom filed, the CEO said the note owners will not get even a penny back but he did suggest that hawaiitelcom is now a good investment & said the stock holders can now invest with confidence in hawaiitelcom. there's one thing that I really don't get about bankruptcies of corporations: why is it so easy to shed the debt, wiping out investors, and then starting clean as if they made no mistakes? There needs to more incentives to not file than to file. Hell, the consumer bankruptcy laws were re-written a few years back to screw consumers. Maybe it's time to re-write the bankruptcy laws for corporations so that they are screwed. We should try to be equal now... |
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