FairPoint Comminications a well oiled machine

FairPoint CEO David Hauser said recently that,a year from now FairPoint will be a "well-oiled machine."A year may be too a short time for the company to achieve well oiled machine status.
Locally the Burlington Vermont Free Press reports that a cell tower project was abruptly put on hold and a scheduled visit to the location by the PSB postponed .A dispute with the landowner over the original proposed height and the changed height of the tower is the issue .The landowner agreed to a 80 ft. tower and the plans now call for a 110ft. structure.
Last Thursday the company in the midst of restructuring its debt and on the brink of bankruptcy released a regulatory filing that confirmed it had missed interest payments on its loans and bonds. FairPoint stock traded at 41 cents per share down 88% year to date.

FairPoint warned earlier this week that the talks to restructure its debt could lead to a bankruptcy filing. It also earlier this week said lenders that collectively hold more than 50% of loans and commitment under the company's bank credit facility have agreed to wait until Oct. 30 before taking action such as accelerating maturity dates.
An analyst at KDP Investment Advisors said Thursday's news did not come as a surprise, "considering the company's weak liquidity and the disfunction of its billing and ordering systems."

A suitor in kind?
A rumor over the last few days says that Windstream Communications may be looking into bidding on the near bankrupt FairPoint. Headquartered in Little Rock, Ark., Windstream Communications according to their webpage offers phone, broadband and digital TV services, and has a long and proud history. In addition to their long and proud history they have 3 million access lines in 16 states, 1 million high-speed Internet customers, $3.2 billion in annual revenues and 7,300 employees.
How does the old joke go?........You can put to drunks together but they still can’t walk straight
Windstream Corp. last week said it would cut 350 jobs, or 5 percent of its work force, this year. Roughly 5% of their workforce (350 out of 7,100 jobs) in order to "offset revenue pressure in the residential voice business." In other words Windstream, like larger teleco Verizon is making cuts to help counter the continuing death of the copper landline.