[40396] in North American Network Operators' Group
Re: Covad, Chapter 11 !
daemon@ATHENA.MIT.EDU (Nathan Stratton)
Wed Aug 8 10:47:44 2001
Date: Wed, 8 Aug 2001 10:45:15 -0400 (EDT)
From: Nathan Stratton <nathan@robotics.net>
To: "Smith, Rick" <rsmith@atsworld.com>
Cc: "'nanog@merit.edu'" <nanog@merit.edu>
In-Reply-To: <88786160BFD1D211B10800A0C9EC744ED894DD@CORP>
Message-ID: <Pine.BSF.4.30.0108081033590.45687-100000@Andy.robotics.net>
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On Wed, 8 Aug 2001, Smith, Rick wrote:
> Just found this...
>
> http://www.internetweek.com/story/INW20010807S0008
As someone who has 14 DS3s into their network I think this is very good
news. Covad was crushed with $160 million a year payments on $1.3 billion
in debt. That now all gets converted into common stock (sucks for common
shareholders) and everything is reset. This lowers cash needed to break
even down to $200 million from $400 million.
-Nathan
