Wednesday, December 5, 2001

@Home Bondholders Threaten to Sue -- 9:49 am CST, Update by A.T. Hun

Excite@Home's bondholders are threatening to sue AT&T for withdrawing their bid for Excite@Home's assets. OK, let me get this straight. You reject AT&T's bid for being way too low in your estimation. In revenge, you cut off all of AT&T's customers. Then, after AT&T withdraws their bid, you have the unmitigated gall to demand that they reinstate it? Wha? I think this bit from the article sums it up best:

Although the bondholders say they have reason to be angry at AT&T's withdrawal, they may also be to blame in the Excite@Home morass.

According to numerous sources close to Excite@Home and AT&T, Excite@Home creditors engaged in a dangerous game of chicken with AT&T. They underestimated Ma Bell's resolve and its ability to move customers to its own network, so they lost the game.

J.t.Qbe comments: There's no shortage of idiots in the world, especially at Excite. I guess they're following the principle, "If you can't be right, at least be loud". Meanwhile, AT&T's web site says that Michigan will be reconnected tomorrow. . .

News for 12/05/2001

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