restructuring

 

Vonage CEO Resigns, Company Restructures

Michael Snyder, CEO of Vonage Holdings Corp., has resigned. The company made the announcement early Thursday morning at its investor conference call. Snyders resignation was effective on April 11. It came as part of a broader restructuring, said Jeffrey Citron, Vonage founder. Citron will serve as interim CEO while Vonage searches for Snyders replacement. It […]

McLeodUSA Officers Resign

Service provider McLeodUSA Inc. said yesterday its CEO has resigned, but will remain on the board of directors. The CLEC Chris Davis resigned as of Aug. 12 amidst the companys restructuring efforts, but she will stay on as chairwoman of the board. Ken Burckhardt also stepped down last Friday from his positions as executive vice […]

ITC^DeltaCom Announces Financing Commitment

ITC^DeltaCom Inc., the telecommunications provider in the Southeast, on Tuesday announced arranging a $239 million financing commitment from Tennenbaum Capital Partners LLC, a private investment firm. West Point, Ga.-based ITC^DeltaCom said it would use $209 million to fully refinance its senior credit facility while $30 million would be extended as a subordinated secured loan and […]

Wholesale Channel: Will Global Crossing Sink or Swim?

Posted: 03/2002 WHOLESALE CHANNELWill Global Crossing Sink or Swim? By Josh Long The recent bankruptcy filing of Global Crossing Holdings Ltd. signifies the harshest blow to investors who gambled on the wholesale telecommunications market since the late ’90s, injecting billions of dollars into communications companies that built fiber-optic networks around the world to power the […]

Wholesale Channel:   Carrier’s Carriers Trim Debt in Reorganization Plans

Posted: 2/2002 Wholesale Channel Carrier’s Carriers Trim Debt in Reorganization Plans By Josh Long Bondholders at Broomfield, Colo.-based Level 3 Communications Inc. retrieved $721 million towards the end of 2001, a year the investors would prefer to forget. After holding its “Modified Dutch Auction” last fall, Level 3 abolished $1.713 billion in debt in exchange […]

Wholesale Channel – PointOne Seeks Buyer in Voluntary Bankruptcy Filing

Posted: 10/2001 Wholesale Channel PointOne Seeks Buyer in Voluntary Bankruptcy Filing By Josh Long PointOne Telecommunications Inc., an Austin, Texas-based provider of voice-over-packet services, filed for Chapter 11 protection in the U.S. Bankruptcy Court in August. The facilities-based provider of wholesale long distance voice services said the voluntary filing would give it the best opportunity […]

Business News – Companies Seeking Money Miss Mark on Business Plan, Experts Say

Posted: 07/2001 Business News Companies Seeking Money Miss Mark on Business Plan, Experts Say By Josh Long With investors remaining ever vigilant as the bankruptcy line grows longer, telecommunications companies must present a comprehensive financial model in order to garner funding, experts said at the ASCENT 2001 Spring Conference and Exposition in Dallas. That premise […]

Agency – AT&T Says Restructuring Won’t Affect Channels

Posted: 03/2001 Agency AT&T Says Restructuring Won’t Affect Channels By Josh Long AT&T Business Services, the crown jewel generating more than 50 percent of the corporation’s revenue, says it expects the announced AT&T Corp. (www.att.com) restructuring plan will have no effect on its agent and resale programs. AT&T announced in October it will restructure into […]

Business News – Equalnet Communications Completes Reorganization of EqualNet Corp.

Posted: 08/1999 Equalnet Communications Completes Reorganization of EqualNet Corp. Equalnet Communications Corp., Houston, has completed the plan of reorganization for its wholly owned subsidiary, EqualNet Corp. "With this financial restructuring behind us, we can better devote our efforts to building shareholder value by repositioning our focus to emerging niches in the communications market," says Mitchell […]

Can’t Go IPO?

Posted: 11/1997   Can’t Go IPO? You’re Not Helpless Take Control By Restructuring By Michael H. Wirpel Here’s the scene: Your margins, profits and self-esteem are shrinking. Your cash flow is negative; you are not positioned for either an IPO or new debt. There appears to be no way to salvage the business. Pictures of […]

The ID is: 75915