Fairpoint

[Grady223]

My wife was on the phone with Fairpoint the other day and the CS told her that they were declaring bankruptcy. Anyone else hear this? If so how is that going to affect us?

[brk-lnt]

Originally Posted by Grady223

My wife was on the phone with Fairpoint the other day and the CS told her that they were declaring bankruptcy. Anyone else hear this? If so how is that going to affect us?

Yes, I've seen that on the news and read about it as well.

It is most likely a restructuring bankruptcy, much like the auto makers. They'll shed bad debt, fire a bunch of union folks, and to the end-user you shouldn't see any noticeable effect.

[Pine Island Guy]

Fairpoint did file Chapter 11 a few weeks ago. Hopefully they will figure out how to restructure and clean up their mess. That said, I can't imagine the "service" will get any better. After numerous and extended phone calls to get my DSL web service and site back up after the "seamless" transition from Verizon, my perspective is they have a lot of work to do!

That sale was a huge win for Verizon to get out of thousands of miles of expensive land lines and keep their investment in wireless. I hope someone at Fairpoint has to do some explaining to their shareholders about the purchase they made for their future. In the next 10 years I'll be surprised if people still have land line service to their homes...

gobble gobble -PIG

[RI Swamp Yankee]

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. ...

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.

[Sunbeam lodge]

Originally Posted by Pine Island Guy

Fairpoint did file Chapter 11 a few weeks ago. Hopefully they will figure out how to restructure and clean up their mess. That said, I can't imagine the "service" will get any better. After numerous and extended phone calls to get my DSL web service and site back up after the "seamless" transition from Verizon, my perspective is they have a lot of work to do!

That sale was a huge win for Verizon to get out of thousands of miles of expensive land lines and keep their investment in wireless. I hope someone at Fairpoint has to do some explaining to their shareholders about the purchase they made for their future. In the next 10 years I'll be surprised if people still have land line service to their homes...

gobble gobble -PIG

I can recall all the discussion with the Meredith board when they approved the deal. The people who spoke against the sale were right on. i spent an hour on the phone today with the billing department after listening to 5 different phone messages transferring me around to other rep's. They are not quite as bad as trying to find out why United Health is raising their drug levels and 200% to 250% drug cost increases. A 90 day supply of Prevacid is Going from level 2 to level 3 and the copay cost is going from $99 to $270.
If u have AARP better check what they are doing.