And the recovery rolls on.....
All 198 Alco Stores, including 23 in Kansas, are shutting down.
The beleaguered company that used to have its headquarters in Abilene filed for bankruptcy early last month.
The U.S. Bankruptcy Court in Dallas on Thursday approved an order from the company’s creditors to close all Alco stores.
I was with AT&T for over 12 years with Uverse triple bundle ???
Sorry, but Uverse has only been around for six years.
AT&T Inc. announced its plans for a fiber-optic network and Internet Protocol television (IPTV) deployment in 2004 and unveiled the name "U-verse" for the suite of network services on January 6, 2008. Beta testing began in San Antonio, in 2005, and AT&T U-verse was commercially launched June 26, 2006 in San Antonio. On December 22, 2008 the product debuted in Birmingham. Later in 2009 the product launched in Chicago, San Francisco, Hartford, Indianapolis, and other cities in their vicinity. On January 25, 2010, AT&T announced that U-verse was available to over 2.8 million households. Later that year, U-verse was launched in Milwaukee, Dallas, Kansas City, Detroit, Los Angeles, Cleveland, San Diego, Oklahoma City, and Orlando.
FTR is offering $50 credit to affected customers, but it is frustrating for the few of you that there are.
Migrating a million customers onto a new platform has its challenges.
Windstream Corp. announced it would downsize its workforce by 350 employees – the second time the Little Rock-based telecom has cut jobs in the past year.
In February, Windstream laid off 400 employees across the U.S., including 67 in Arkansas.
You need new friends buckwheat, since the ones you have are liars.
From the news article....
Frontier said it switched over 415,000 data connections and 875,000 voice and video links, with 99 percent being converted successfully. "There were some system problems that couldn’t have been anticipated, some problems with code" affecting the remaining customers, Frontier Connecticut GM Paul Quick told the newspaper. Frontier said that fewer than 10,000 customers were affected, but some of those have been vocal on Twitter:
And to think they are only half way to their cost cutting....err....store closing goal.
That's something in the range of 350 stores and10,000 people w/o jobs.
Say goodbye to 170 stores: Staples and rivals like Office Depot (ODP) have been shutting stores due to fierce competition online and lower demand for their products.
Staples said it has eliminated $200 million of annual expenses and it's not even halfway to its goal. Strasser said store closures have allowed Staples to trim its rent costs by $25 million so far this year.
Now Staples plans to turn off the lights on 170 stores in North America this year.
Agreed, FTR has NO longstanding customer service issues.
There are bound to be some service interruptions when moving a million customers onto a new platform.
FTR does what it says its going to do. FTR continuously upgrades its network, and always collects escrow monies set aside as insurance when deals happen, and within the prescribed time limits.
With surging homebuilder sentiment, we suspect the disappointing plunge in Housing Starts (-2.8% vs +0.8% exp) will surprise a few but there is hope... as Building Permits rose 4.8% (vs 0.9% expectations) on the back of an 8% surge in multi-family / rental units. This is the highest level fo Permits since June 2008 (but still over 50% below peak permits levels in 2005). The only region with any increase in starts was the South.
The market seems to like the deal.
It always surprises me how people like to view the acquiring company as the "bad" one. Remember, it was ATT that decided to sell their Connecticut properties to FTR. Yes, this piece of their company no longer "fit" their long range plans, so maybe we should be thankful someone like FTR was interested in this business.
Along with the purchase came almost 3,000 hard working, dedicated, and knowledgeable employees. Some of them will choose to not adapt to the new way of doing things, but the vast majority will be just fine.
The federal agency that insures pensions for about 41 million Americans saw its deficit nearly double in the latest fiscal year. The agency said the worsening finances of some multi-employer pension plans mainly caused the increased deficit.
At about $62 billion for the budget year ending Sept. 30, it was the widest deficit in the 40-year history of the Pension Benefit Guaranty, which reported the data Monday. That compares with a $36 billion shortfall the previous year.
All's well in the land of milk and honey.
Pension debt in the Land of Lincoln is a big problem. So big, in fact, that it would take three years of a complete government shutdown, during which the entire general fund went toward pensions, just to break even. No funding for schools, no money for public safety and nothing for health care and human services.
Illinois’ unfunded pension liability grew to more than $111 billion this year, according to official estimates. That’s a $48 billion increase just since 2009.
Hmmm....let me guess....this is your first buyout right?
Every time FTR does a deal someone like you wants to tell the world how bad things are.
FTR has done much larger acquisitions than this one.
Remember, change is a good thing.
The Taj Mahal employed 2,739 on Nov. 4, according the New Jersey Division of Gaming Enforcement. Its closing would bring total job losses this year at Atlantic City casinos to more than 9,500, about 30 percent of the total at the end of last year.
Current price = $6.81 + $1.70 in dividends since VZ acquisition = $8.51 total value not including dividends on reinvested dividends.