The 2017 agreement was not due to expire until December 31, 2019.
Why have this meeting now?
Note that it says that Windstream Services, LLC, is now a party.
That comment might the real reason for this filing. It is not really about extending his term as CEO.
Maybe they are getting things in place to file bk.
"Name will be Kenetic"
Or these names:
Bankrupt-stream,
Tony Telecom - 'When You Need The Worst Service - Give Me All Your Money',
Lie-stream
this guy nailed it.
congratulations TT and the no leadership team. it really takes skill to screw up this royally.
Name will be Kenetic
Which WIN will file? Which has the Unity contract? Which will have Unity contract after the filing?
It don’t matter. It might be easier to let Win fail for all the bad decisions they’ve made. Poor strategy and execution. Why save something that’s profitable or growing.
It is not for certain WIN will file. But they are getting ready.
Those CDS that Aurelius owns are probably scaring the h... out of the banks. That gives the money people a huge incentive to help WIN. It may be a lot cheaper to save WIN than pay those CDS.
Only the C---aroaches will be left after the fire sale.
Mr Chilli said he had a year begininning in 2016 to turn it around or he wouldn’t have a job.
We’re going on 2 and all they have done is slowed down disconnects. Get ready, more are coming.
I can’t believe would pay any of the C-Levels after this pathetic performance. The strategy and execution have been dismal at best. Any other company would relieve its C-level team for a performance like this. Remember, those
Guys are suppose to be judged on performance I haven’t seen tony post a profit yet.
I think the problem is the CEO and then VP level. They hide the truth from executives to make it look like they have contro of the situations.
Tony’s people are failing to execute, so who’s to blame? Since Tony isn’t relieving of their duties I wonder if he’s second guessing his plan.
I’m excited for the earnings call. I’ve heard good things, so if they turn out to be bad we’ll all know we were lied to again.
I realize bad news is in our face, however I want to see if we had any new revenue or if we just let a lot of people go to come close to posting a profit.
" Lane said we were doing well from a sales perspective which is the type of news we need."
Lane is full of c-ap and is one of the people that need to be ejected from whatever the post-bankruptcy company looks like. Enterprise margins have continued to drop under him.
I hope everything works out like TT said it would. Lane said we were doing well from a sales perspective which is the type of news we need.
As long as we keep delivering 12-14 month installs and having 3-4 outages per month it doesn’t matter what we change our name to.
They did not have to have a meeting to extend TT's contract, as his contract was good for nearly two more years. This meeting was held at this moment of crisis. They tell us that the reason was to extend his term. NO! The meeting was to add WIndstream Services LLC to the deal, to allow them to pay executives AFTER the re-structuring. That is, they are preparing to file Chapter 11.
Also, supporting bk is this post from Stock Twits, a few days ago:
"Windstream Secured Lender Group Said to Organize With Paul Weiss
That's a law firm first lien lenders are working with now. They apparently had a call last night to discuss matters. Windstream is working with restructuring firm Kirkland & Ellis. Bankruptcy filing likely imminent."
WIN is preparing to file bk. If they said they were going to file bk, the stock would drop to near nothing. But that is what will happen when they do announce.
Hope remains, maybe.... they have a court meeting with Aurelius on Monday. Let's see that happens.
I don't have it front of me, but I think Windstream Services, LLC is what has been on my W2 the last two years.
"They can’t use anything “windstream” in the post bankruptcy name."
Fairpoint did exactly that a year or so after declaring bankruptcy, emerging out of it a year or so later. Consolidated Communications eventually bought them on the cheap later. https://en.wikipedia.org/wiki/FairPoint_Communications
Same thing will happen with WIN.
They can’t use anything “windstream” in the post bankruptcy name. The marketing would be terrible. Worldcom reverted to MCI in order to get bought by VZ. Then again we know noone is as brilliant as TT. He has it all figured out.
How does it really feel to work for a company that will go bankrupt, I mean really
From what I can find out, maybe the plan is to use this Windstream Services LLC to set up UNIT lease payments. Doing this SEC filing sets up payments for management in the new structure.
= bk coming
But yes, something is up, and they are not telling us what really is going on.
The question is why?
Maybe this was just a bookkeeping correction and the real reason, really, was to confirm their support of TT.
Already exists.
Company Overview of Windstream Services, LLC
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=290732182
Good catch. Could be post bankruptcy name