39°F Rain 
What's happening in:
7/1/09
|
8 comments
business New FairPoint CEO assumes duties amid money problems
PORTLAND, Maine — The new head of FairPoint Communications is assuming his duties amid growing concerns that the company could file for bankruptcy protection if it can't delay its debt obligations.
Effective Wednesday, David Hauser (HOO'-zer) replaces FairPoint co-founder Eugene Johnson as the company's chairman and CEO.
In a Securities and Exchange Commission filing last week, the company said it's seeking to delay an interest payment to bondholders due in October. If the payment can't be put off, the company said it might seek alternative debt restructuring plans, which could include bankruptcy.
FairPoint is based in Charlotte, N.C., but its largest holdings are in northern New England, where last year it bought Verizon Communications Inc.'s wired telephone and Internet operations in Maine, New Hampshire and Vermont for $2.3 billion.
Not registered? Click here
|
E-mail this
|
Print this
|
Local News
ROCKLAND, Maine — For Edwin Vance Bunker, the end of his trial means the knot in his stomach has finally come undone. …
Anyone who enjoys viewing work of aspiring artists really shouldn't miss the annual My Student Art Exhibit, which opens …
FREEPORT, Maine — Outdoors clothing retailer L.L. Bean says sales dipped again in 2009 but the company managed to …
AUGUSTA, Maine — Leaders of the Passamaquoddy Tribe sketched out their proposal Thursday for a November ballot …
AUGUSTA, Maine — Nearly everyone who testified Thursday on legislation designed to fine-tune a voter-approved …
Recent comments
On 3/14/10 at 9:52 PM, RalphKramden wrote: Repeated separate thumbs down will cause comment to be hidden
Yes, Obama …
Why don't the cops and politicans lose their homes when they break the law?
Well the reason I say they need to score a bunch of goals is for that same reason,, I dunno about you but I was tired …
How come all these people setting home watching TV aren't doing this job. It might cut welfare for a couple of weeks. …
A vision for the North Woods
In delicate talks, the many factions of landowners are forging a plan that tries to …
Hope the PUC is happy with their decision! Guess they weren't looking out for the public this time!
Didn't see that one coming...
Which Junior High School Business Studies Class can we thank for designing this acquisition?
I wondered if it was going to work when they bought out Verizon. I had some friends who work for a communications company in Mass tell me that FairPoint was going to take over, but to watch out, they could have some serious problems. When they did take over, I was somewhat pleased to see they would be able to provide some better internet services in very rural areas - NOPE - never happened!! Too bad, but maybe they can get their "act" together and recover!!
Will the PUC people keep their jobs on this one?? Verizon and Fairpoint bought some politicians to get this thru[ donation to K Baldacci charity from Verizon CEO after deal was struck] .....they did not do their homework . I feel bad for the former verizon folks who had become employees..
Remember that there was not a lot of choice. Verizon wanted out and FairPoint was our only option. If Verizon had remained, they would have not invested in additional infrastructure and probably let service degrade further.
SHOCKING!!! WHO KNEW???
Yet no comment from the PUC....too busy crafting another defensive statement behind closed doors. Thank you Maine PUC!