https://finance.yahoo.com/news/hedge-fund-titans-aurelius-elliott-100001452.html
"Windstream is scheduled to be in court March 25 for a motion to stop utility providers from shutting off service. It will return April 16 for a hearing on a broader range of motions, including the final approval of a $1 billion loan it will use to fund itself during bankruptcy."
No power for the remotes/DSLAMS/fiber backhaul or anything else WIN uses - customers will flee to competitors even faster.
I have seen the Power company disconnect before, then call in trouble tickets about phone lines being out of service on top of that. Talk about a catch 22 situation, can't repair their phone lines until they restore power to the service provider.
"Heck, even before the Ch 11 filing, we weren't getting our dumpsters emptied because we were always either not paying or late paying the trash companies."
For years, many of the regional NOC's would go weeks without anybody cleaning the restrooms/breakrooms - either the cleaning company was 'changed' for the umpteenth time, or the schedule for them was to come in just twice a week.
The disconnect notices for power and past disconnects to remotes, plus the current water disconnects have all been in ILEC areas. Heck, even before the Ch 11 filing, we weren't getting our dumpsters emptied because we were always either not paying or late paying the trash companies.
Have you all had any power disconnects in North Carolina? If so, where?
That's surprising and alarming you've had power cutoffs. Is this on the ILEC side or the CLEC side?
I can tell you for a fact, that we have had power disconnected at some of our remotes for non-pay in the past several years.
All of our central offices have received disconnect notices about 2-3 weeks ago (multiple power companies, not just one). We have even had city water shut off last week and this week at several central offices due to non-pay as well.
"A state utilities commission would savage any power company that dared cut power to the ILEC.
No utility would dare do this to the ILEC."
I have seen the power companies many times cut off power to the customer equipment from WIN's lack of payments, and the local manager scrambling to restore power as quick as possible using his personal credit card. It happens more than most realize.
Management won't make a issue of it when reporting the outage to the local entities as they don't want to be embarrassed that WIN caused the outage in the first place from not paying the utility bill on time.
The local techs in here can attest to this happening a lot.
@YbOhAa0 wrote:
"No power for the remotes/DSLAMS/fiber backhaul or anything else WIN uses - customers will flee to competitors even faster."
The petition to have the court keep the lights on is routine. It will be granted.
Also, in most states, the same commissions that regulate Windstream's ILEC regulate the power companies. All those political commissioners' phones would ring off the wall. A state utilities commission would savage any power company that dared cut power to the ILEC.
No utility would dare do this to the ILEC.
In either scenario something is getting sold to pay back creditors.
Wasn't TT's bonus pre-bankruptcy? Doesn't that meant he creditors will have the opportunity to review it. Maybe even throw it out or at least revise it. I'm sure TT doesn't have many friends among the finance guys.
I guess TT took his bonus bc it looks like the hedge funds will own a lot of new stock.
just put this sick dog down already.
Bye bye
"Elliott proposed a loan to keep Windstream out of bankruptcy, according to people with knowledge of the matter, and the company outlined a financing proposal it received from financial institutions for up to $1.5 billion, contingent on Windstream meeting several conditions, according to court filings."
Well TT and the gang went against the wishes of what soon will be a large equity owner. I think heads are going to roll and that's not a bad thing...