What Do FairPoint and Michael Jackson Have In Common?

Posted by Dennis Herrick on June 30, 2009 at 09:32:07:

They're both in hock to the tune of 1/2 billion dollars. Here's a clip from Forster Daily Democrat. Guess you can kiss your "high speed" DSL internet access good-bye northern New Hampshire. If it wasn't for you, we still have Verizon.
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FairPoint uses the 'B' word

Tuesday, June 30, 2009
FairPoint Communications wants more time to pay the interest on $530 million in loans. A lot of people are in a similar boat — not to the tune of $530 million, but with the threat of foreclosures hanging over their heads.

It wasn't until Wednesday that FairPoint used the B word — bankruptcy. Analysts have been using it for a while. Now the people who provide us with landline telephone service are dialing it.

Verizon must have known something when it divested itself of landline service in Maine, New Hampshire and Vermont. What was it that FairPoint didn't know on its way to $8 million in first-quarter losses and numerous consumer complaints?

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