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Covad Set To Emerge From Bankruptcy

Posted by ryuzaki0 on from the yahoo-my-dsl-will-stay dept.

powerlord writes "All of us still rooting for Covad can let out that deep breath we've been holding. According to an article on the Seatle IP Wire Covad is set to emerge from bankrupcy. They claim they've managed to shed most of their debts and are concentrating on 50 major metropolitan areas right now. They expect 40 of the markets to be cash positive by year end, with the entire company cash positive by mid 2003. Their stock rose $0.75 to $1.39."

3 of 94 comments (clear)

  1. Seattle P-I or Post-Intelligencer - correction by WillSeattle · · Score: 2, Offtopic

    geesh, Hemos, it's even spelled out in the URL.

    The reason I mention it is the Seattle Times is a fascistic dishrag that backs Bill G without question, and both it and the Post-Intelligencer are morning papers now. Plus the P-I is even older - I work in their old building, which is now a Group Health admin center for us techies.

    As to the story, one of the things about Covad and bankruptcy is that this shows us why Chapter 11 and Chapter 7 are very different. The former means you're going to come back like a phoenix, the latter usually means it's time to drive a stake thru your heart.

    -

    --
    --- Will in Seattle - What are you doing to fight the War?
  2. great spelling, Hemos! by juan2074 · · Score: 0, Offtopic


    That's Seattle P-I.

  3. Cash Positive by years end? by CraigoFL · · Score: 1, Offtopic
    That's only 2 weeks away... of course, they could mean the end of 2002, but the article does specifically say "by the end of this year," so it would have to be a mistake on the part of the reporter.

    I find it peculiar that 40 out of 50 cities are already profitable but 10 cities won't be for a year and a half (mid-2003).