Qwest Communications announced tonight that it "incorrectly
applied" accounting standards from 1999-2001, and will
restate its earnings for those years. The restatement focuses
on $1.1 billion in transactions, primarily IRU "fiber swaps."

The company has also withdrawn all financial guidance for 2002,
and scheduled a conference call for 9 a.m. tomorrow to provide
further information.

http://biz.yahoo.com/prnews/020728/lasu003_1.html

another one bytes the dust.....taking bets on the next to fall.

Who's next to report fraud? This is a bad time for the telecoms. And a great time for bandwidth buyers in carrier hotels :-D

And a great time for bandwidth buyers in carrier hotelsNot really, for some reason they are not budging that much on price.

Most bandwidth providers are selling cheap now though. Verio, Qwest, even Worldcom are all selling for cheap cheap rates now. And all the bankrupts etc are selling their stuff cheap and paving the way for newer services like cogent to pick up fiber backbones cheap and transit cheap.

Most bandwidth providers are selling cheap now though. Verio, Qwest, even Worldcom are all selling for cheap cheap rates now. And all the bankrupts etc are selling their stuff cheap and paving the way for newer services like cogent to pick up fiber backbones cheap and transit cheap.Not really. Call Qwest or UUnet and get a quote. They are pretty much at the same price (I have, that is how I know :))

LOL

The new technique, announce on Sunday. Love it.

I think the providers and pricing depends on your region. I've heard on this board that many will give you a deal while others won't. It could all be about who you have as a sales rep....

If this keeps up, there won't be any nationwide networks in the USA.

Keep in mind that there will always be nationwide networks in the U.S., just that the same company that used to operate them might be different, or different in theory.

the microsoft network :) i think they would be able to keep from going bankrupt if...let them by all the fiber

Originally posted by PhoenixCIS
the microsoft network :) i think they would be able to keep from going bankrupt if...let them by all the fiber

That would be funny if it was Microsofts plan to wait till everyone goes bust and then gulps them all up.

Originally posted by RackMy.com
Qwest Communications announced.............

http://biz.yahoo.com/prnews/020728/lasu003_1.html

:eek: :eek: Where did all them "Cogent Basher's Go" ?

Didn't they BET $$$ that Cogent would be the First to "Tank" ?

1st. GlobalCrossing
2nd. Worldcom aka... UUnet
3rd. Qwest...

Dang'it..... I should have taken that Bet! :D :D

Oh, don't doubt it. Cogent will be doing the same thing :)

The true test of the race will be which communications provider actually closes up shop, shuts doors, sells out completely. Cogent (and many others) still in the race.

Originally posted by mwatkins
The true test of the race will be which communications provider actually closes up shop, shuts doors, sells out completely. Cogent (and many others) still in the race.

I'll put $20 on Adelphia being the first one to do that, with XO possibly second -- if they can't get this financing deal worked out.

There will always be national networks. UUnet will always be around, its to huge to go away. It may not be called UUnet, more likely Verizon, but it will be here. I just have a bad feeling that all this industry consolidation will lead to one huge company that owns most of the public backbone.

Isn't this how Worldcom got into trouble in the first place? They went on such a buying spree that they had a lot of overlap, and systems integration was and is a nightmare. I've read countless articles of how very few of their systems talk to each other.