 morboComplete Your Transaction
join:2002-01-22
00000 | Verizon's shame is Fairpoint It's not difficult to place much of the blame for Fair Point directly on Verizon's shoulders. Just look at the results: Verzion gets a disproproptionate tax write-off for dooming the new company to bankruptcy. It's like a murderer getting off on a minor technicality: it's legal but we all know they are completely guilty of screwing everyone over. |
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1 edit | said by morbo:It's not difficult to place much of the blame for Fair Point directly on Verizon's shoulders. Just look at the results: Verzion gets a disproproptionate tax write-off for dooming the new company to bankruptcy. It's like a murderer getting off on a minor technicality: it's legal but we all know they are completely guilty of screwing everyone over. Fairpoint has to take a major share of the blame for paying so much in the 1st place. Their mgt paid more than it was worth and took on more debt than they could handle(helped along by the recession and debt crisis). They should not have made this deal under the terms Verizon offered. No one forced them in to this deal. |
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 tim_kButtons, Bows, Beamer, Shadow, KaseyPremium,VIP
join:2002-02-02
Stewartstown, PA
kudos:13 | said by fAcEtIOUs: No one forced them in to this deal. Exactly. I'm sure the top execs at Fair Point cooked up some deal to base their bonuses on the number of new customers. Triple your customer base and rake in the big bucks. If the company goes under, move on to your next victim. Some of these executives are nothing but legalized swindlers.
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RIP my babies Buttons 1/15/94-2/9/07, Beamer 7/24/08, & Bows 12/17/94-10/11/09 |
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 tschmidtPremium,MVM
join:2000-11-12
Milford, NH
kudos:5
 ·Fairpoint Commun..
 ·Hollis Hosting
| reply to morbo
said by morbo:It's not difficult to place much of the blame for Fair Point directly on Verizon's shoulders. Fail to see how this is Verizon's fault. They took advantage of tax law to reduce cost of the sale. Have no idea if they were instrumental in making a Reverse Morris Trust legal on not.
They set a price that ultimately was reduced a little to meet regulators and FairPoint objections.
As a NH resident my preference was Verizon not sell off VT/NH/ME. Having said that I think ball rests solely in the hands of FairPoint unless Verizon misrepresented material fact.
/tom |
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morboComplete Your Transaction
join:2002-01-22
00000 | said by tschmidt:Fail to see how this is Verizon's fault. They took advantage of tax law to reduce cost of the sale. Have no idea if they were instrumental in making a Reverse Morris Trust legal on not. Maybe you should re-read my post. What Verizon did was technically legal. However, despite all indications otherwise, everyone (except somehow Verizon, Fairpoint, and the relevant regulators) knew this was a terrible idea that would end badly. Guess what? It has! Now Verizon is attempting to do the exact same thing with Frontier. Do you think that the Frontier deal should go through given what you now know?
I know you New Hampshirites love mavericks, so you've probably enjoyed the Fairpoint mess. For the rest of us, you know what they say: you can lead a horse to water... |
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Reviews:
 ·Comcast
·AT&T Southeast
| said by morbo:said by tschmidt:Fail to see how this is Verizon's fault. They took advantage of tax law to reduce cost of the sale. Have no idea if they were instrumental in making a Reverse Morris Trust legal on not. Maybe you should re-read my post. What Verizon did was technically legal. However, despite all indications otherwise, everyone (except somehow Verizon, Fairpoint, and the relevant regulators) knew this was a terrible idea that would end badly. The regulators are the ones that were told over and over it wouldn't end well and they were in control of the process. They were well within their rights to block things but did not, they are solely to blame for this... rest of it was a business transaction. |
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bac522
join:2003-08-04
Manchester, NH | Bingo...neither Verizon or Fairpoint's fault, but the PUC's of all three states. At the end of the day the land-line business is still a regulated monopoly and the PUC's could have squashed this deal...but I'm sure Verizon pulled some back-room handshakes with PUC members and thus the deal was approved. Why none of the legislators in the 3 states have called for hearings into the members of each state's PUC's is baffling to say the least! |
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tschmidtPremium,MVM
join:2000-11-12
Milford, NH
kudos:5 Reviews:
·Fairpoint Commun..
·Hollis Hosting
| said by bac522:Bingo...neither Verizon or Fairpoint's fault, but the PUC's of all three states. The issue was never the landline business it was expanding broadband services. It was clear Verizon had no interest in doing that. FairPoint argued, as a smaller Telco with a rural background, it was willing to accept lower profit margin.
What exactly do you think regulators should have done?
/tom |
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Reviews:
·Comcast
·AT&T Southeast
| said by tschmidt:said by bac522:Bingo...neither Verizon or Fairpoint's fault, but the PUC's of all three states. The issue was never the landline business it was expanding broadband services. It was clear Verizon had no interest in doing that. FairPoint argued, as a smaller Telco with a rural background, it was willing to accept lower profit margin. What exactly do you think regulators should have done? /tom At the very least added the stipulation to use Verizon's software instead of having India develop new software. They also should have looked at the fact FP was a incredibly small entity with no track record to say they could handle this kind of load and imagine that... they can't handle it. |
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tim_kButtons, Bows, Beamer, Shadow, KaseyPremium,VIP
join:2002-02-02
Stewartstown, PA
kudos:13 | reply to tschmidt
said by tschmidt:What exactly do you think regulators should have done? /tom In recent years government regulators aren't any better than the fox guarding the hen house. They are so much in bed with the industries they are suppose to be keeping an eye on that the corruption is blatant. Yet you'll never see any prosecutions of government or business officials.
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RIP my babies Buttons 1/15/94-2/9/07, Beamer 7/24/08, & Bows 12/17/94-10/11/09 |
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