4/16 court hearing on wages

Routine hearing scheduled for 4/16 for various debtor-in-possession (management) motions:

http://www.kccllc.net/windstream/document/1922312190306000000000003

see item 8:

"Wages Motion. Debtors’ Motion for Entry of Interim and final Orders Authorizing, the Debtors to (I) Pay Prepetition Employee Wages, Salaries, Other Compensation, and Reimbursable Employee Expenses and (II) Continue Employee Benefits Programs [Docket No. 18]."

"Prepetition" = pre-bankruptcy

The details are in docket item #18:

http://www.kccllc.net/windstream/document/1922312190225000000000192

I didn't skim the whole thing but in a big bankruptcy, continuing pay and benefits is normally approved in order to keep the company going. The creditors can object but I suspect they won't or if they do, it will be to certain points.

I did not see if this covers senior management stuff (bonuses, etc.)

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I've heard TT say 12,600 employees

Aka the bye bye union contracts hearing

Smells like Enron 2.0!! I would want an actuary to audit books for funny money.

Windstream has had some questionable business practices rate increases, raising the NUSP and NUSB to the Max allowed and the disconnect process.

According to that filing Windstream spends around;

$1,196,000,000 a year on employee wage and benefits.

That includes wage, health benefits, and paid leave.

If you take that and divide straight up by

11600 it is;

$103,103.44/avg per employee

Now some people make more then others and some make alot more than all of us, but if that doesn't tell you they are going to have to restructure I don't know what will....

I mean let's say they made 5.3 billion in revenue last year that's pretty on par... Just employee costs is around 22% of total revenue!

We'll all be repurposed into Windstream chili cooks.

A few years ago, had a new client (I'm in I.T.) try to disconnect services from them. My client's Accounts Payable Manager came to me in frustration and I quickly understood why. Their processes appeared to be calculated to delay, frustrate and develop situations that would continue to bring them revenue.

We ended up having to make a complaint to the State Utility Commission to get Windstream to behave ethically. I'm sorry for those thousands of people who have lost/are losing their jobs (other than the executives who instituted those policies). Not sorry to see Windstream go.

TT can't be bothered with things like how many thousands of peons have been laid off to fund his $5M bonus

Either way you only have 11,600 employees. They’ve been slaughtering employees for 2 years

He said 12600....you are what is wrong with windstream....cant even get a simple number straight

Wait. Didn't TT say we had 16,000 employees on his call? That's quite a discrepancy.

2 things I learned we have 11,600 employees which confirms we’ve been laying people. I’m having a hard time with leading provider. People are disconnecting

The Debtors are a leading provider of advanced network communications and technology solutions for businesses across the United States. As of the date hereof, the Debtors had approximately 11,600 employees.

It should cover senior management bonuses I mean they work so hard and we are so lucky to have their talent!

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4/16 court hearing on wages

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