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Covad Files For Bankruptcy Protection

Posted by ryuzaki0 on from the spread-too-thin dept.

xnuandax writes: "Well, it's finally happened, DSL provider Covad Communications has buckled under its post-tech-bubble debt load and filed for Chapter 11 (See this c|net article). While this doesn't mean that Covad is turning off the lights on its 330,000+ customers, things are not looking so rosy for the last competitive (non-Bell) DSL provider left standing. Seems that the USA is setting herself up for a broadband cartel (of Baby Bells) that's going to make OPEC look like a poster child of free market competition." The announcement is from earlier this week, but they've been acting bankrupt for a while. Just like with Loki though, this doesn't mean they're out of business, at least not yet.

1 of 182 comments (clear)

  1. DSL from Pacbell Keeps Getting Worse by nitsuj · · Score: 2, Funny

    I've had Pacbell install DSL in a different apartment/house in San Francisco every summer, for the past three summers.

    1999: $39.95/mo 384K up and 1.5-6M down

    2000: $39.95/mo 128K up and 384K-1.5M down

    2001: $49.95/mo 128K up and 384K-1.5M down

    With that trend, it won't be long before a 56K modem is better.