where are all the fools who were touting Coned's foray into telecom. This board has been noticably quiet about this debacle.
ED and NYC were in fiscal crises in 74
NFI is a better choise for dividend...!
Hey if you people really want to see something strange, go to the symbol fcp and see the fight going on with these fellows.
The Telecom write-off has me steamed. How do you lose money on business dataSVC's when you start out with existing/free right of way, operations + facilities ?I'm up on my ED investment, plus the reasonable dividend, but don't understand this F-Up ... Is the comm business dead ?
Have a friend that works in the same building. CEC layed off 55 and his word is that it will be sold. Ed can't take the losses.But I agree, how do you lose when you have the rights of way: Off the cuff I'd say it was lack leadership in sales/marketing. Look at CECs web site and judge for yourself.One guess, they took a standard Telco approach to mass business market. What they needed was a lot of high level relationship building with the biggest users of tele/datacom: Finacial industry.
The question for now is not whether telecom is dead. That's a given. Has ED written off thisventure entirely and focused on the cash cow business of delivering power utilities.