Financial


  • Leach to Replace Bantoft as PAETEC Channel Chief
    John Leach, South region president for PAETEC Communications (PAET), is taking over the top channel spot at the Rochester, N.Y. CLEC. He will replace Chris Bantoft, who was a casualty of the layoffs the company announced Dec. 5 as part of cost-cutting measures in light ...More
    December 10, 2008 By Khali Henderson Posted in News
  • Qwest CEO: We’ve Got the Dough for 2010 Debt
    Ed Mueller, CEO of Qwest Communications International Inc. (Q), told analysts this week his company has enough room to deal with debt maturities that come due in late 2010. Reuters reports that Mueller says Qwest is generating free cash flow and could handle ...More
    December 9, 2008 Posted in News
  • Level 3 Cutting 450 Jobs Before Year’s End
    Monday was not a good day for telecom.Alvarion Ltd. (ALVR) announced 110 job cuts early on in the day, and late in the afternoon, Level 3 Communications Inc. (LVLT) said it would have to shed 450 positions. That amounts to 8 percent of the Colorado company’s ...More
    December 8, 2008 Posted in News
  • PAETEC Bows to Economy, Cuts 222 Jobs
    One of the cornerstones of PAETEC (PAET), the Rochester, N.Y., CLEC, is the value it places on its employees. So it must have been very difficult for executives to cut 222 full-time jobs last week with little outside notice. “The action was primarily taken as ...More
    December 8, 2008 Posted in News
  • Has Buyer Intent Hit Bottom?
    IT buyer expectations are leveling off following November's sharp drop in response to the global financial crisis, according to a FutureScan report issued this week by IDC.While IDC's outlook for IT spending over the next 12 months has not changed from the revised forecasts ...More
    December 6, 2008 Posted in News
  • AT&T Layoffs Spark Downturn Talk, Debate
    AT&T Inc.’s (T) announcement Thursday that it’s laying of 12,000 people came not only as a nasty surprise to workers but also as a harbinger of bad times for the telecom industry. At least, that’s BusinessWeek’s assertion. Other outlets are ...More
    December 5, 2008 Posted in News
  • Financiers, Equipment Vendors Keep Funds Flowing
    October 2008 marked the worst month for Wall Street in 21 years. In the third quarter, gross domestic product output fell .3 percent, according to U.S. Bureau of Economic Analysis statistics (two consecutive quarters of negative GDP growth mean recession). Add in The ...More
    December 5, 2008 By Kelly Teal Posted in Articles
  • Carrier Climate Check
    With a drastically fluctuating economy, plummeting stock prices, and somewhat concerned partners, carriers’ behavior ranges from tightly zipped lips to fully exposed hands. PAETEC (PAET) chairman and CEO, Arunas Chesonis, recently issued a letter to agents to ...More
    December 5, 2008 By Cara Sievers Posted in Articles
  • How Are Partners Weathering the Economic Storm?
    Channel partners remain optimistic despite America’s faltering economy and extreme credit crunching. Behind their optimism is a belief that all businesses — large and small — need telecommunications to survive, so cutting those budgets significantly is ...More
    December 5, 2008 By Cara Sievers Posted in Articles
  • Storey Elected President, COO at Level 3
    Diversified service provider Level 3 Communications Inc. (LVLT) has elected former WilTel exec Jeff K. Storey, who brings more than 25 years of telecom industry experience to the firm, as president and chief operating officer effective Monday, Dec. 8. Storey will be ...More
    December 5, 2008 Posted in News