Fairpoint files for Chapter 11

Ben Scott dragonhawk at gmail.com
Wed Oct 28 14:53:58 EDT 2009


On Wed, Oct 28, 2009 at 11:15 AM, Ed lawson <elawson at grizzy.com> wrote:
>> Well, if the PUCs have learned anything from this fiasco, they must do
>> better with do diligence, and stop listening to marketing folks.
>
> Of course hindsight is more perceptive than foresight, but one has to
> wonder if there was any diligence or if they felt compelled to grasp at
> the straw and pray.

  Well, there were official documents submitted by the Maine Office of
the Consumer Advocate that claimed FairPoint did not have anywhere
near the capital backing needed to both buy the northern New England
PSTN *and* sustain operations.  They had moderately detailed numbers
and projections.

  In other words: The PUC was told this would happen, but did it anyway.

-- Ben


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