North American Network Operators Group|
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Re: Covad, Chapter 11 !
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