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DECEMBER 1 2001:
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The page you are looking for will not be displayed due to posturing between lawyers and a judge that is not concerned with 860,000 or so customers. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other "Not at Home" Sites |
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Personally, I have no sympathy for the
Excite@Home's bondholders. They supported a
management team that spent almost 800 million dollars on a company that
generated NO REVENUE. (Blue Mountain Greetings) Then later sold it for less
than 10 million. It doesn't take an MBA to see that squandering money like
that will lead to bankruptcy. They should just take their lumps and suck it
up like all the other dot.bombers
of 2001. On the other hand, It seems obvious to the most casual of observers that AT&T was up to some shenanigans. They placed their people in the management team. They had 75% of the voting power. They ran Excite into the ground so they could buy up the assets for dimes on the dollar. Is that legal? It may not be, but it sure looks like good old American capitalism in action to me. I also have no respect for the Judge Carlson in the bankruptcy court. His determination that allowed the Excite network to 'pull the plug' was uneducated, unnecessary and incorrect. It was uneducated due to the lack of understanding the impact of his decision would have. The internet, is not a "non-essential service" anymore. It was unnecessary because there is already one (and only one) valid bid on the table for the network assets. And of course, it was incorrect because it was uneducated and unnecessary! Somehow, the judge and the Excite lawyers think that turning off the network will increase it's value. This action, in their mind, will force AT&T to increase the bid for the assets. It seems to be a very risky move. Will people wait for this BS to settle or will they bail out and find a new service provider? I am in the waiting mode for now. I can't go back to dial-up, Sprint Wireless is not accepting new orders and we are too far away from the CO for a decent DSL connection. I hope that AT&T is really close to finishing their own network. Then they can tell the Excite lawyers and bondholders to go screw themselves. When no-one else bids on their assets, they can try to get pennies on the dollar rather than dimes. I am also perturbed that the Feds have not stepped in to stop the shutdown. A different bankruptcy judge forced a bankrupt DSL provider to stay on to allow users some time to transition to a new provider. The Feds have bailed out auto manufacturers, power companies and airlines... I guess the internet doesn't use enough petroleum products to catch the interest of our administration. |
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A Summary of the BS since the AT&T@Home
Debacle Started.
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| When I first signed up for AT&T@Home, I was thoroughly impressed with the service and I recommended it to many other people. To all of you, I sincerely apologize for my recommendation. I had no idea, it was going to turn to $hit so fast. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AT&T Comcast: Optimizing Your Broadband Experience (unless you download, or upload, or use USENET. Or Email. Or VPN. Or...that "Internet" thingie.) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Wednesday July 11, 2007 06:59:56 PM -0500