Saint George, UT
|reply to n2jtx |
said by n2jtx:I agree with you 100%, but all the fault lies in the Fairpoint Execs, they just didn't have a clue on the failing Technology. There is mixed feeling on what makes good Top Managers, but mine was always they have to know their Product, and the best Managers were the ones that worked their way up. I think this is especially true in Technology Companies like Telcos. Here is a prime example of Top Management not knowing their Product, and relying on advice from their Experts.
Anybody who has been on this site for at least six years had been following all this nonsense from the beginning. It was spelled out in detail that the sale would fail and it was no surprise, the play-by-plays, to see the regulators cave. It was not as if there was no information available to show what a truly bad deal this was. Any creditors who feel burned have no one to blame but themselves. There was plenty of information available about how risky this deal was and if they chose to ignore it, they did so at their own peril.