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IP: Rest relatively easy -- MORE ON COVAD CHAPTER 11: Speakeasy.net Newsletter: August 2001 (fwd)
From: David Farber <dave () farber net>
Date: Tue, 07 Aug 2001 12:14:13 -0400
Date: Tue, 7 Aug 2001 09:11:49 -0700 (PDT) From: Chris Metcalfe <capsmet () speakeasy net> To: <dave () farber net> Dave, Thought you might find this of interest. It's from Speakeasy, one of Covad's largest ISPs. -- Chris ---------- Forwarded message ---------- Date: Tue, 7 Aug 2001 06:32:21 -0700 (PDT) From: Speakeasy.net <speakeasy-news () speakeasy net> To: "members () announce speakeasy net" <members () announce speakeasy net> Subject: Speakeasy.net Newsletter: August 2001 o How Does Covad Spell Relief? Chapter 11 Speakeasy's take on today's reorganization announcement ============================================================= How Does Covad Spell Relief? Chapter 11 ============================================================= Some of you may have read Covad Communications' announcement today regarding its negotiations with bondholders and the subsequent "pre-packaged" Chapter 11 filing. The release clearly details Covad's plan to successfully restructure its business and continue with its long-term goal of providing premium DSL connectivity and choice in the broadband market space. The primary item of note in the release, and that which concerns many of you, is that the potential Chapter 11 filing will affect the parent company, Covad Communications Group, Inc., but will in no way affect any of its operating companies. Due to this essential distinction, ALL of the Covad operating companies (which include vendor relationships and the maintenance of DSL circuits) will continue to operate without any court-imposed restrictions. Basically, this announcement will not affect your Speakeasy DSL service in any way. We here at Speakeasy are thrilled by this decision and determined that we will continue our vendor relationship with Covad in all established service areas. We are in full support of Covad's efforts to restructure, and believe that this is exactly what the industry needs. We are all early-adopters of a technology that is under constant development, and, as many of you know, residing on the bleeding edge is not without its risks. Thankfully, this announcement will help ebb the speculation on the future of the broadband industry and contribute to revitalized growth. Certainly we intend to monitor the developments of this restructure, and will keep our press site (http://www.speakeasy.net/press) up to date with all breaking news regarding Covad's reorganization.
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- IP: Rest relatively easy -- MORE ON COVAD CHAPTER 11: Speakeasy.net Newsletter: August 2001 (fwd) David Farber (Aug 07)