eggmok Posted August 7 Report Share Posted August 7 High-speed Internet access provider Covad Communications Group Inc. (OTC BB:COVD.OB - news) said on Tuesday it expects to voluntarily file for bankruptcy protection by mid-August and is in talks with bondholders to eliminate its $1.4 billion debt load.i'm screwed . . . Quote Link to comment Share on other sites More sharing options...
ckayser Posted August 7 Report Share Posted August 7 And this comes as a suprise?Since Northpoint folded they were talked out being in the same boat. Quote Link to comment Share on other sites More sharing options...
eggmok Posted August 7 Author Report Share Posted August 7 well, northpoint sucked ass anyway . . .this is mostly restructuring so hopefully they'll be back on top fairly soon . . .any tips from people in the industry out there . . . Quote Link to comment Share on other sites More sharing options...
heretic909 Posted August 7 Report Share Posted August 7 I use Speakeasy as my DSL provider which leases lines from Covad, and they just sent out a notice saying that this won't affect service for me:Some of you may have read Covad Communications' announcementtoday regarding its negotiations with bondholders and thesubsequent "pre-packaged" Chapter 11 filing. The releaseclearly details Covad's plan to successfully restructure itsbusiness and continue with its long-term goal of providingpremium DSL connectivity and choice in the broadband marketspace.The primary item of note in the release, and that whichconcerns many of you, is that the potential Chapter 11 filingwill affect the parent company, Covad Communications Group,Inc., but will in no way affect any of its operatingcompanies. Due to this essential distinction, ALL of theCovad operating companies (which include vendor relationshipsand the maintenance of DSL circuits) will continue to operatewithout any court-imposed restrictions. Basically, thisannouncement will not affect your Speakeasy DSL service inany way.We here at Speakeasy are thrilled by this decision anddetermined that we will continue our vendor relationship withCovad in all established service areas. We are in full supportof Covad's efforts to restructure, and believe that this isexactly what the industry needs. We are all early-adopters of atechnology that is under constant development, and, as many ofyou know, residing on the bleeding edge is not without its risks.Thankfully, this announcement will help ebb the speculation onthe future of the broadband industry and contribute torevitalized growth.Certainly we intend to monitor the developments of thisrestructure, and will keep our press site(http://www.speakeasy.net/press) up to date with all breakingnews regarding Covad's reorganization. Quote Link to comment Share on other sites More sharing options...
thehacker Posted August 9 Report Share Posted August 9 i had psn.net and northpoint.psn.net went under - i never got my ~$600 back forthe annual contract ; then northpoint went chapter 11.and telocity was too lazy to switch me over to verizonto be my line provider. FUCK dsl. cablemodemfrom optimum alllll theeee waaaay Quote Link to comment Share on other sites More sharing options...
teklord310 Posted August 9 Report Share Posted August 9 I have Verizon DSL now and it sucks. Should have gone with cable. Quote Link to comment Share on other sites More sharing options...
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