bah6
join:2001-04-22
Brooklyn, NY |
bah6
Member
2001-Aug-7 10:21 am
First Post =]but really, where are we all going to go?
Back to the bells.
verizon for me. =[ |
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quadaa
join:2001-04-05
Littleton, CO |
quadaa
Member
2001-Aug-7 10:31 am
ATT Consumer reopening Northpoint switchesI just called AT&T Business DSL to complain/inquire. Nothing new on that front. Actually had to mail the link on Covad to the rep... HOWEVER, she mentioned that AT&T Consumer is going to be re-opening the Northpoint switches that they bought in November. Yet another example of the big squashing the small and profiting... |
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freakymat
Anon
2001-Aug-7 10:31 am
Goto......I say we all go to Earthlink. |
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to bah6
Re: First Post =]I'm hoping that Optimum Online gets my town wired soon! Four times the speed for $20/month less than Covad. |
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 Kibbles
Premium Member
join:1999-07-31
Mission Viejo, CA |
Kibbles
Premium Member
2001-Aug-7 10:40 am
Who is left?New Edge Networks...and who else? |
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 zemus
join:2001-01-13
Brooklyn, NY |
zemus
Member
2001-Aug-7 10:41 am
hahaha!yes.. get cable service, however if you dont have cable service, you'll need to go back to the baby bells... However, you should go thru an ISP like earthlink, at least in the NY area they resell verizon service but no caps and actually better service on average. |
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to quadaa
Re: ATT Consumer reopening Northpoint switchesAT&T DSL is actually available where I am in Columbus Ohio. They are re-using the former NP DSLAMs and other equipment. |
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gtidsl
join:2000-07-29
Morristown, NJ |
gtidsl
Member
2001-Aug-7 10:41 am
Do you really think they are going to make it?What this is - is to get the Bondholders something before its worth NOTHING.
Funny the stock is up .20.... People are buying the line.
We shall see.........
Upon closing of the restructuring, Covad said it expects to pay out $283.3 million to bondholders. After the payout, Covad said it will have about $250 million of cash on a pro forma basis as of June 30, 2001, enough to run its business (into the ground) into early 2002. |
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 FROSTY
MVM
join:2000-08-10
Leeds, AL |
to bah6
Re: First Post =]Hey, Covad blows in my area!!!
Bellsouth kicks their butt!!! |
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MegaPATH VP RespondsI just received a reply from a VP at MegaPATH concerning a question I asked. QUESTION: How will the announcement concerning Covads expected bankruptcy effect the transition? » www.reuters.com/news_art ··· D=149495Thank you, sgi_guy RESPONSE: Not at all. We knew of this yesterday and are even quoted in some of the press releases. They are doing a packaged deal with all their creditors agreeing. They will survive and be better for it. Regards, Gary R. Thomas Sr. VP Operations MegaPath Networks Inc. gary@megapath.net |
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DaveForDSL to quadaa
Anon
2001-Aug-7 10:48 am
to quadaa
Re: ATT Consumer reopening Northpoint switchesWell at least that means my Netopia M7100 modem isn't a complete doorstop I hope.
With Covad and rhythms gone and pressure from bells to force ISP's to use pppoe we're definately not going to be left with a lot of great options.
I'm hoping cable will support static IP or something. |
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to bah6
Re: First Post =]seriously, this sucks. i use megapath for business in NYC and this will be my FIFTH isp switch.
Covad to Northpoint to Harvardnet to Rythyms and now back to Covad.
I think I should simply ditch megapath before Covad goes under and bo with Verizon. The ADSL is cheaper anyway, though no doubt not as reliable.
Sigh... |
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stant_98
join:2001-08-07
Silver Spring, MD |
PLACED ORDER W/EARTHLINK/COVAD. SHOULD I CANCEL?`WHAT DO YOU THINK? |
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DaveForDSL
Anon
2001-Aug-7 10:52 am
EarthlinkA rep at earthlink claimed that if Covad went under they would maintain the lines for customers.. Not sure if anyone can verify if this is the case. Supposedly they have done it for other services that went Chapt 11/7. |
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Actual Press ReleaseWell I tried to post this at 7:30 this morning but for some reason they decided not to post it. Here is the link to the actual press release on the Covad website. The plan is solid and I think they will find the funding they need. The only problem will be the reaction from their ISP partners and their enduser's. If everyone freaks out and bails on Covad they will definitely not have a chance. Now if instead they realize that this is good for the company and it's customers in the long run we will all come out on top. This move is completely voluntary, very well thought out and pre-planned. If Covad can retain the trust and the loyalty of their customers and partners they will pull through this and reach profitability. Anyway, here is the link to the press release: » www.covad.com/companyinf ··· ss.shtml |
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DaveForDSL to gtidsl
Anon
2001-Aug-7 10:55 am
to gtidsl
Re: Do you really think they are going to make it?They also say that they need $200 million to go cash flow positive. Who wants to give them $200 mill when they have $1 bill plus in debt. Anyone want to take that risk? Doubt it unfortunately. Hope I'm wrong because we need another option for DSL... but it looks pretty grim... |
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to stant_98
Re: PLACED ORDER W/EARTHLINK/COVAD. SHOULD I CANCEL?`That would be NO. I'm not trying to be funny but your best chance for NON-ILEC DSL is with Covad. I'll admit it's a chance but everyone likes the underdog, right? |
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RiO0
join:2001-01-05
Norristown, PA |
to quadaa
Re: ATT Consumer reopening Northpoint switchesYou had to know this was going to happen. Why else pay the money for the assets? They are letting a lot of time go by first because when they come back in they want to do it on their own terms (and price). |
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| RiO0 |
to bah6
Thank God for CableThank God cable access just became available in my area. It is not too bad 1-2.5 download and a constant 124 up for $40.00 per month. |
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stant_98
join:2001-08-07
Silver Spring, MD |
to icekodiak
Re: PLACED ORDER W/EARTHLINK/COVAD. SHOULD I CANCEL?`DOESN'T THE FACT THAT THEY'RE FILING FOR BANKRUPTCY MAEN THAT THE SERRVICE WILL BE TERRIBLE AND NOBODY WILL REALLY GIVE A SH... ABOUT IT. |
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 klambertSeti Rocks
join:2000-07-20
Dallas, TX |
to bah6
Re: First Post =]Actually, this is almost certainly a good thing for Covad. This is a "pre-packaged" bankruptcy (a friendly bankruptcy) as opposed to a forced or involuntary bankruptcy. Covad will come out of bankruptcy a prime target for acquisition (probably by one of the Bells or Verizon). Its what they really want.
Rhythms, on the other hand, is in trouble. They essentially were forced into bankruptcy, and unless they can find a bail-out, they will be the next NorthPoint. They desperately want someone to "acquire" them, but it doesn't look promising. |
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to DaveForDSL
Re: Do you really think they are going to make it?DaveForDSL,
You're missing the point here. Yes, Covad needs 200 mill, but this restructuring will completely wipe out their debt. No more 1.4 billion hanging over Covad's head.
Originally 400-700 million was projected as needed to reach profitability. . . now its only 200 million because they won't have to make any payments on their debt. |
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to icekodiak
Re: Actual Press ReleaseVOLUNTARY? AHHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAH AHAHAHAH AHAHAHAHAHAHAHAHAHAHAHAHAHAHA |
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 Mikey
Premium Member
join:2001-03-12
Fort Lauderdale, FL |
Mikey to bah6
Premium Member
2001-Aug-7 11:13 am
to bah6
Re: First Post =]Covad always sucked for me at least. Although Bellsouth isn't much better, it's better than Speakeasy or any of that sh*t! |
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to stant_98
Re: PLACED ORDER W/EARTHLINK/COVAD. SHOULD I CANCEL?`Read the press release!!! No employees are going to lose their jobs.... Covad's network is not shutting down..... If anything their customer service is getting better because they are doing everything to keep their enduser's. This is a VOLUNTARY RESTURCTURING OF DEBT!! Covad is not going out of business... and their employees do give a *%$#! |
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stant_98
join:2001-08-07
Silver Spring, MD |
Thanks! I already read it.
Let's hope things work out for'em! |
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 Tom0
Premium Member
join:2000-09-10
Chicago, IL |
Tom0
Premium Member
2001-Aug-7 11:20 am
Phew..When I saw that headline, I thought "Oh sh*t, I'm not going to lose my DSL, am I?!?". Just as long as they don't start switching off customers, as I have the best possible DSL (1250/330, 50-100 pings). Covad is the only nation-wide CLEC left, after NP and Rhythms went broke. I don't see why you are all saying Covad blows, unless you are in Verizon territory. |
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to gregschneide
Re: Actual Press ReleaseSigh..... Sometimes I wonder if people actually understand what they read...... |
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19 cents on the dollarI don't see how this improves the situation. The deal is no doubt quite complex, but it boils down to something very simple:
Bondholders have been told to accept 19 cents on the dollar (plus stock) for the debt they purchase. The alternative was to wait and accept zero in a chapter 7 filing sometime next year.
The bonds were at 12.5% interest. So during the next 12 months, if you accept the mantra Cash is king, then they're out 6.5 cents for each dollar of debt: less of a cash cushion than before. Unless they've got someone lined up willing to front that money before they run out, then this deal does have an effect on "continued operation" by shortening the amount of time before they burn through their cash.
What am I missing? |
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webbdfoot to stant_98
Anon
2001-Aug-7 11:34 am
to stant_98
Re: PLACED ORDER W/EARTHLINK/COVAD. SHOULD I CANCENot... YET! |
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