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This page contains all of the posts and discussion on MemeStreams referencing the following web page: Flag Telecom Files for Bankruptcy. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Flag Telecom Files for Bankruptcy
by Jeremy at 11:11 am EDT, Apr 13, 2002

Flag Telecom filed for bankruptcy protection, becoming the latest high-speed network operator to buckle under mounting debt amid the industry's glut of network capacity and slumping demand.

Flag's board authorized the filing after banks sped up debt repayment, which triggered a cross default on its outstanding senior notes. ... If an agreement can be reached, Flag could emerge from bankruptcy.

The company is backed by Verizon (18.6%) and Tyco (11.2%), among others.

So, who wants to buy the world's longest cable? Cheap! Cheap! What, no takers?


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