 willardkMod 2000-03
join:1999-12-02
Jackson Heights, NY | taking bets How much you wanna bet Verizon scoops them up at a bargain basement price....that will give them what they wanted to begin with and presto chango no more lawsuit.
Will |
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| That would suck sooo much, you know what verizon offers for 39.95 a month 608/90 and most people only see 500/60 of that so there is no way in hell they will allow a company such as telocity to sell serive of 1500/1500 for the same price the sell there lines, that would simple be bad bussiness. This looks like the start of the dsl monoploy we all saw coming, telcos eat up the clecs and isp intill there all gone then charge 40 bucks a mont for service worth half that. Lets all just hope fixed wireless and or open cable access comes before the telcos ever scheem ever comes to be reality!!
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-Brett Catlin |
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| Our goal is to re-emerge from Chapter 11 as soon as possible with a strategic partner and on sound financial footing. By taking this action, we have given NorthPoint the time and resources we need to realistically restructure our business and build for a stronger future.
Let me assure you that filing for Chapter 11 protection does not mean that NorthPoint has gone out of business. NorthPoint is continuing to provide outstanding service to our customers, pursue a successful outcome to the structured sale process and execute on a business plan that will allow us to optimize our resources. The purpose of our filing is to use the "breathing room" Chapter 11 provides to sign an agreement with a financially sound strategic partner who is interested in our world-class network, our skilled and dedicated employees and our attractive customer base. We expect to do just that. |
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 justinAustralian
join:1999-05-28
New York, NY
kudos:7 | reply to willardk
Right.. but imagine the mood of Liz Fetter on the day she has to approve expenses for getting twelve new keys cut for the northpoint executive toilets.. |
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| reply to stillok
Thanks for the insight, i assume you are or where a NPNT employee.
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-Brett Catlin |
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| Uh, that's a quote from the transcipt.  |
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| i feel stupid now =)
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-Brett Catlin |
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IAmTheEvilestThere Is Nothing Like A Restart
join:2001-01-03
Milpitas, CA | reply to stillok
Let Microsoft solve all our problems. They will fix it all for us. They have the technology, and the money. Buy Northpoint, Microsoft and you can switch all the Northpoint customers to MSN Highspeed!
Hope you are reading this Mr. Gates!
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Pac Bell people are stupid, the support structure was designed by a idiot, and the training was written by a monkey. |
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 JYoungG L 2814
join:2000-06-13
Sherman Oaks, CA | reply to willardk
How do you know that wasn't their plan all along?
(I'm not saying that it was but it's possible)
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If you're wondering how he eats and breathes and other science facts, then repeat to yourself "it's just a show, I should really just relax" |
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 lml2000Whazzup
join:2000-08-17
Los Angeles, CA | reply to willardk
No way would Verizon even go near this bankruptcy, particularly since there is unlikely to be any assets auctioned off. Remember, we're not talking about the liquidation of assets in a Chapter 11; we're talking about a reorganization and a likely trip to the barber shop by many creditors, most likely by unsecured trade creditors.
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Regards,
lml |
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dbarc
join:2000-01-22
Fort Wayne, IN | reply to willardk
said by willardk:
How much you wanna bet Verizon scoops them up at a bargain basement price....that will give them what they wanted to begin with and presto chango no more lawsuit.
Will
IANAL, but I'd actually bet against that scenerio (though not bet the whole ranch). Although I'm sure there's not a lot of warm and fuzzies between Northpoint and Verizon at the moment, I would think if there's any way possible the two could come to any terms, they'd have discussed it (or at least the lawyers) before the filing and tried to work out a deal to go in with a pre-packaged bankruptcy (much like American purchasing TWA with a pre-package deal). That way it's pretty much over and done with as soon as the court provides its blessings and creditors are satisfied. For Verizon, it would have eliminated the law suit and they'd have still likely gotten the company at a greatly reduced price from their original agreement. (Though there's a question as to whether either side would have agreed to that.)
For them to scoop up the company through the normal bankruptcy process for pennies, I'm guessing there'd be some real legal questions for Verizon and some suits for some time to come. Also, I don't know how many classes of creditors there are, but they're going to wield some pretty strong power during the proceedings. If they get clipped too badly after the original Verizon backout, I'd guess they aren't going to agree to a quick cheap takeover. (That presumes they don't get 100 cents on the dollar. If they did, I'd guess no creditor class would have much impact on the proceedings.)
again, IANAL, just an opiniong having 'watched' a couple from a way too close viewpoint. |
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| reply to willardk
Exactly what I was thinking when I saw this. I just hope that Verizon doesn't get in the habit of throttling all DSL connections at 33% of the rated speed. |
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| reply to dbarc
So what makes you think that Verizon and NP didn't talk about a pre-packaged Chap 11 deal (or Verizon approching NP as the white knight?)? Maybe NP was pissed off enough and thought that they had enough of an upper hand to force the suit and get much more - never under-estimate the power of greed or stupidity... hmmmm... Verizon can still swoop in and scoop it up - maybe unlikely, but how many "shady" business things have you seen get committed and all you could do was just stand there, shook your head (or fist), and not believe that you had just seen that... I bet many... |
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| reply to IAmTheEvilest
Poor monkeys didna have chance they were tricked into it on a false promise of bananas. |
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