Quote:
Originally Posted by Pine Island Guy
... I hope someone at Fairpoint has to do some explaining to their shareholders about the purchase they made for their future. ...
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No, they don't have to explain to the sharehoders, the shareholders are history. Before the purchase Fairpoint stock was $20, today it is trading on pinksheets for $0.0550 (5 1/2 cents) but the "stockholders" have no say in the company. Nobody in the business is surprised, we all knew Fairpoint could not afford the $2++ billion price tag. NH PUC did force a price drop but it was not nearly enough.