Scary when Frontier - which is still financially teetering on the edge of bankruptcy - looks way better right now than the remnants of what used to be called Windstream.
I bet Frontier will eventually buy certain parts of Windstream, but not the POTS subscribers....
https://www.fiercetelecom.com/telecom/frontier-s-ceo-says-company-rebound-thanks-to-its-fiber-assets-better-customer-care
i gave my notice, i just can't stay here and let these m0therfuck1ng th1eves benefit off of me any longer. good luck everyone and f2ck you tony thomas you l0wlife cr00k stick your ill gotten gains where the sun don't shine you maggot.
TT back-stabbed JG and got him fired. TT and his cronies are mainly all CPAs - they knew what they were doing all along. The cards are falling as they planned. They will leave with millions of dollars and go on to the next job when this is all over and land another senior leadership role. This is how it works for them and they know it.
TT was going to be the CEO of Uniti before JG had to leave to spin more time with mistress... The brother of the CEO of Uniti is Windstream CFO.... The boys from LR know exactly what they are doing and that is making themselves alot of money of the backs of investors.
FTR is in worse shape than WINMQ. More debt, a large ILEC footprint, dying copper OSP. It would be a terrible investment both ways.
The one thing Tony got right was stating that the value of the REIT and those contracts are only worth 20% of what was negotiated. If the contact with UNIT is rewritten that way UNIT will be the next to co chapter 7. Without WIN there is no business .
My concern is how did they lose 2 billion by changing accounting methods. What were they doing before. Then the next question is if the lease payments were to high, why did they enter into the exclusive agreement. DoubleT was part of of the lease negotiation. I’m trying to understand how this Unitis daily for overcharging Win. I think Double T was on REIT side for a moment. Maybe there was some sort of commission bonus’s paid on both sides. None of the information makes any sense. How did either side not know the REIT transaction was considered a sale and lease back... The transaction was exactly that.
How can they claim ignorance and no accountability for the bankruptcy when they knew exactly what they were doing. After it all blows up they get bonuses.
"Windstream doesn't own any assets, they belong to Uniti. Thats why restructuring all that debt will be impossible. I do not see Windstream ever emerging from bankruptcy."
The creditors have to decide whether Windstream is worth more liquidated (chapter 7) or restructured (chapter 11). It's not worth much in liquidation, even if you could liquidate an incumbent local exchange carrier. There'd be the proceeds from sale of equipment and that's about it. From comments here, it sounds like a lot of that stuff is obsolete. If Windstream owned its own fiber, liquidation would bring more money.
So the creditors are better off keeping Windstream as some sort of going concern.
The idea is that the new Windstream would leave bankruptcy with no more debt than it could reasonably handle.
The rest of Windstream's debt will just be eliminated; those creditors will get new Windstream stock instead and they'll become the new owners. (The old shareholders will almost certainly be wiped out).
I'm an ILEC customer so I don't know much about the CLEC side. From reading comments here, that part of the business sounds like it's in much deeper trouble than the ILEC.
Yes, the ILEC's pretty c-appy but folks around my town are sort of dependent on Windstream. Windstream could have a viable ILEC business after chapter 11. Hopefully it would have new management and a new board.
Windstream's CLEC business sounds like a bigger mess, operationally, and, more importantly, it's got a lot more competition. So maybe parts of the CLEC will be sold or just shut down.
What do other folks think?
Windstream doesn't own any assets, they belong to Uniti. Thats why restructuring all that debt will be impossible. I do not see Windstream ever emerging from bankruptcy.
Frontier doesn't have any money to buy any of our assets. They are in the same boat as Windstream pre- Aurelius ruling. As a Windstream employee I've seen this bankruptcy coming. The Aurelius ruling just fast tracked it. Frontier has made a lot of questionable purchases over the last 9+ years. Those purchases are going to send them to bankruptcy as well.