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  1. #1
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    SAVVIS Closes Purchase Of Cable & Wireless America Assets

    Quote Originally Posted by http://www.cwusa.com
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    what a turn around, back in 1999 i was with software.com , then digitalisland.com bought them , then exodus.com bought them then cwusa.com bought them and now savvis.net bought them !

    this is what i call it sucessfull BIZ
    Bashar Al-Abdulhadi - KuwaitNET Internet Services Serving customers since 1997
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  2. #2
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    How is that succesfull? They are still millions in debt!

  3. #3
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    cwusa are in depts ?!

    my bad i didnt read the story
    Bashar Al-Abdulhadi - KuwaitNET Internet Services Serving customers since 1997
    Kuwait's First Webhosting and Domain Registration provider - an ICANN Accredited Registrar

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  4. #4
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    CWUSA went thru bankruptcy, didn't they?

  5. #5
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    Yes, they did. CW and CWUSA split, then bankruptcy court approved the sale of CWUSA to Savvis for $155 Million in cash.

    All large telecoms are in major debt. GX had over $25mil/monthly revenue and still filed for bankruptcy.

    Its not un common. I wouldnt be surprised if Savvis files chapter11 in 3-4 years and someone else buys them out.

  6. #6
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    whats chapter11 ?
    Bashar Al-Abdulhadi - KuwaitNET Internet Services Serving customers since 1997
    Kuwait's First Webhosting and Domain Registration provider - an ICANN Accredited Registrar

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  7. #7
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    Chapter11, from my understanding, is a status a (US) company can file for, to give a holding off period before going fully bankrupt. Basically it gives the company some time to negotiate with all the creditors to restructure the company, with the idea that the company can survive and continue operations. Often this means wiping out a lot of the debt, I'm not entirely sure, but I believe often the creditors swap debt for shares in the company.

    Some cynics have labelled this as the chapter11 business plan, particularly for telcos, where they build up their infrastructure, rack up some debt, file ch11, wipe out their debt and then come out the other side with a tangible company.
    Paul Civati
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  8. #8
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    yep, thats basically what they are all doing now adays, that or faking thier number *cough* Wcom...

  9. #9
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    say they couldn't ? the goverment will own the company and sell it to cover some of its depts or insurance pays it off?
    Bashar Al-Abdulhadi - KuwaitNET Internet Services Serving customers since 1997
    Kuwait's First Webhosting and Domain Registration provider - an ICANN Accredited Registrar

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  10. #10
    Originally posted by Bashar
    say they couldn't ? the goverment will own the company and sell it to cover some of its depts or insurance pays it off?
    It does not work that way in the US.
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  11. #11
    so the gov't would not even touch assets?
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  12. #12
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    Originally posted by RackFive
    so the gov't would not even touch assets?
    hugo,

    honestly i'm not sure, but that would make the most sense to me, since the business would not be "pawned in" by the government. I'll get back to you on that.

    But this is truly great news...I hope the prices go down. :-)
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  13. #13
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    i doubt it will go down, it might go up to cover their depts...
    Bashar Al-Abdulhadi - KuwaitNET Internet Services Serving customers since 1997
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  14. #14
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    Originally posted by benoitb
    hugo,

    honestly i'm not sure, but that would make the most sense to me, since the business would not be "pawned in" by the government. I'll get back to you on that.

    But this is truly great news...I hope the prices go down. :-)
    You want the price to go down so they lose even more money and the network turns to crap? You might want to look at wiltel if thats what your in the market for.
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  15. #15
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    I can tell you from experience, that every one said they would drop thier pants on pricing since the take over, but nothing has changes, still expensive as hell, but the up side is the network is awsome, the data center is awsome. We couldnt ask for more. Right dilhole ?

  16. #16
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    CW network is awesome, that I agree. I wouldn't say their datacenter (Jesey City) is awesome though .. it's OK.
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  17. #17
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    Wait, they got bought by Savvis and you thought the pricing would go down? Last I checked Savvis was never cheap and now they have even more reason to be more confident in their network and see no reason prices would go down at all, if anything I wouldn't be surprised if they went up. I got a quote at $8000 for a 100mbit/sec commit over GigE, twice the quote from several other providers.
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  18. #18
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    Before Savvis bought CW they barely had a network of thier own, just 4 lonely data centers and some private peering. Oh wait I left out all thier T1 customers.

    Yes thier prices where high, but over the past year thier service performance on everything from hosting to T1 went down the drain. It wasnt just me speculating the pants dropping.

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