• Home
  • Tag: 上海娱乐地图ypl

NH joins Vermont in reaching tentative deal with FairPoint to buy Verizon

first_imgFairPoint Reaches Agreement with Staff of the New Hampshire Public Utilities CommissionCHARLOTTE, NC (PRNewswire-FirstCall) — FairPoint Communications, Inc. today (January 24, 2008) announced an agreement has been reached between FairPoint, Verizon and the staff of the Hampshire Public Utilities Commission (PUC) regarding FairPoint’s proposed acquisition of Verizon’s wireline operations in New Hampshire. The settlement agreement in New Hampshire is consistent with material terms of the amended stipulation agreement with the Maine PUC and the settlement agreement with the Vermont Department of Public Service and contains other terms and conditions specific to New Hampshire. In the agreement, FairPoint, Verizon, and the staff of the PUC recommend the New Hampshire PUC approve the settlement agreement.FairPoint’s acquisition of Verizon’s wireline operations in New Hampshire is part of a larger, previously announced transaction in which FairPoint would also acquire Verizon’s wireline operations in Maine and Vermont. The license transfers in connection with the transaction have been approved by the Federal Communications Commission and the transaction has been approved by the Maine PUC, subject to receipt of a written order from the Maine PUC. The Public Service Board in Vermont has yet to rule on the settlement agreement entered into by FairPoint, Verizon and the Vermont Department of Public Service.”We are pleased at the thoughtful approach by the staff of the New Hampshire Public Utilities Commission and believe this agreement appropriately addresses important public interest issues in the state. We look forward to serving the people of New Hampshire,” said Gene Johnson, chairman and CEO of FairPoint.In addition to the key financial conditions in the amended stipulation in Maine and the key conditions in the settlement agreement with the Vermont Department of Public Service, FairPoint committed to additional conditions in New Hampshire which address capital expenditures, network and service quality improvement plans, broadband expansion and assurances of financial viability that will benefit the state.Vermont reaches tentative deal with FairPoint to buy VerizonlandlinesIn early January, the Vermont Department of Public Service reached agreement with FairPoint Communications on its $2.7 billion deal to buy Verizon Communications 1.6 million landlines in Vermont, New Hampshire and Maine.The new deal, as in New Hampshire, mimics the plan approved in Maine last week, which includes a steep reduction in FairPoint’s shareholder dividend (35 percent, resulting in a $50 million per year savings) and what is a de facto reduction in the price of the sale by $235.5 million. The financial moves were considered important in ensuring that FairPoint would be financially able to consumate the deal and live up to other provisions in the agreement, including extension of DSL service and other service and reliability guarantees. FairPoint had reported that to make the deal it would have to borrow $2.5 billion.The deal also includes penalties up to $12.5 million if goals are not met. The Vermont agreement states that FairPoint must invest at least $40 million each year for the first three years and starting in 2009 spend at least $35 million to reduce debt.The entire deal still needs final approval by the Vermont Public Service Board, and by the regulatory body in New Hampshire.The Vermont Public Service Board previously rejected, on December 21, 2007,the application of FairPoint Communications to buy Verizon’s Vermontlandlines. The docket was not closed, however, allowing FairPoint to rework the deal. The PSB said the deal requires the company to carry toomuch debt to be financially sound.FairPoint has also agreed to make broadband Internet access available to all of its customers in at least half its exchanges by 2010.Even if FairPoint ultimately gains approval, discrepancies in thefinal rulings among the three states would have to be dealt with byeach state’s regulatory board.By the middle of December, anyway, it seemed like thedisagreements and conflict over the decision to approve FairPointCommunications $2.7 billion dollar acquisition were finally coming toan end, after the Maine Office of the Public Advocate and the stateadvocate staff at the Public Utility Commission finally agreed toconditions of the settlement on December 12. The agreement comesafter months of opposition from Consumer Advocates and labor unions that stalled thestate’s PUC decision to accept or reject the sale.In December, consumer advocates in Maine and New Hampshirereleased reports urging their state Public Utilities Commissions toreject Verizon’s sale. FairPoint, a North Carolina phone companythat is one-sixth the size of Verizon. Buying Verizon’s northern New England phone lines would make it the eighthlargest communications company in the nation. The settlement, whichwould affect virtually every person with a phone in New Hampshire,Maine and Vermont, needs final approval from all three states utilityregulators before it takes effect.Vermont has focused mainly on how the settlement will affectconsumer-related issues, such as the extension of DSL service areasand reliability. Staff from boards in Maine and New Hampshire,however, initially released reports urging their state’s PUC to full-out reject theproposal. Advocates said they are against the merger because theyfear that FairPoint is not financially capable of making infrastructureimprovements and service commitments without hiking rates, cuttingemployees, or going out of business altogether.”FairPoint and Verizonhave not met their burden of showing that the transaction is in thepublic interest,” explained Meredith A. Hatfield, a consumer advocatefrom New Hampshire. The Maine Public Utilities commission echoedthese sentiments in a report they released in November.”Theproposed transaction subjects both ratepayers and shareholders tosubstantial risks and harms that are not outweighed by any of thepotential benefits of the transaction.”FairPoint has 975 employees in contrast to Verizon’s3,000. FairPoint’s 2006 revenues were at $270 million while Verizon’swere $88 billion. The acquisition would force FairPoint into a $30million dollar a year debt agreement to repay their $2 billion dollardebt. Critics believe these numbers indicate that the settlement willgive FairPoint a financial burden they can’t handle.Despite their outright refusal of the merger, the reports did listterms and conditions for the acquisition if it were approved. Reportsreleased from the Maine Public Utilities Commission ordered that threemain conditions be met for their approval. First, FairPoint must submitto the PUC a plan to deal with expected loss of workers. As part of thedeal, Verizon was also recommended to cut its $2.7 billion dollar pricetag by $600 million. If they do not follow this suggestion, the companymust set aside significant funds for infrastructure upgrades withinFairPoint. As of the December 12 agreement, The company was alsorequired to make minimum capital investments of $47 million in Maineover the next three years, and will reduce dividend levels by 35percent. PUC staff in New Hampshire were not as flexible. They listedeleven conditions in their report that need to be met by bothcompanies for the acquisition to be approved. One of their conditionsalso addressed the issue of Verizon’s price tag, and the debt it willcause FairPoint. The report specifically suggested that Verizon cutFairPoint’s acquisition cost by $200 million with no cost to thecompany. To further address its $30 million dollar debt issue, FairPointwas also urged to cut its dividends by 20 percent. The commission alsowants to have say in fixing the companies transition serviceagreement, or TSA. The briefing says that the price of the TSA exceedsthe costs of services, which gives Verizon and unnecessarily largeprofit. The report suggested that FairPoint have a third party monitorto judge the company’s cutover readiness criteria-or the time whenFairPoint could fully separate from all Verizon systems.last_img read more

Execs raring to revive WV economy

first_img* repatriated overseas workers – reverse transcription polymerase chain reaction (RT-PCR) test at port of entry, then quarantine (until the release of test result) * visual data to establish patterns and trends, and identify clusters * invest in backbone information communications technology (ICT) infrastructure to support electronic governance * look for alternative markets * formulate policies and protocols to address efficiency and ensures less than 24-hour quick turnaround of results * enhance testing and contact tracing * facilitate free movement of people to enable labor mobility and promote domestic tourism * relevant government agencies may be tapped such as the Technical Education and Skills Development Authority A technical working group would be created to further flesh out the doable details for immediate implementation. * strengthen intra-regional market linkages and supply chains of local producers At the meeting Wednesday morning at Treñas’ office were governors Arthur Defensor Jr. of Iloilo, Samuel Gumarin of Guimaras, Rhodora Cadiao of Antique, Esteban Evan Contreras of Capiz, Florencio Miraflores of Aklan, Eugenio Jose Lacson of Negros Occidental and his economic adviser former Negros Occidental congressman Alfredo Abelardo Benitez, former Guimaras congressman JC Rahman Nava, and former Bacolod City congressman John Orola representing Mayor Evelio Leonardia of Bacolod City. * local governments units should provide assistance in terms of new equipment, supply of raw materials and training Western Visayas shifted to modified general community quarantine on June 1 from 73 days of being under enhanced community quarantine and general community quarantine since March when there were restrictions on the movement of people and operation of businesses and industries. Public health safety precautions, however, must be observed. All passengers disembarking at any port of entry in Western Visayas must register at StaySafe.ph app for COVID-19 surveillance and contact tracing purposes. * local chief executives should study the supply and demand of  products in their areas to determine which products from other areas could be allowed to enter the region All symptomatic and/or reactive individuals at any point of entry must be isolated in designated quarantine facilities. Region 6 is the fifth largest economy in the Philippines outside the National Capital Region (NCR) in 2018. * promote domestic tourism FREE MOVEMENT OF PEOPLE SCALE-UP PRODUCTION * facilitate bulk purchasing of consumables * ensure sustainability “We must work together para mapadasig ang economic recovery sang region,” said Treñas. “We have to prove that we have economic resilience. Ang aton pumoluyo waay trabaho. Nabudlayan ang private sector mag-venture. The government should step in kag mangita projects nga may economic returns.” * intra-regional travel * set up contact tracing center with full manpower complement * promote goods and products from the region and have preferential trade treatment for these ICT ILOILO City – The provincial governors of Western Visayas and Mayor Jerry Treñas of this city identified five “areas of cooperation” to rev up the region’s economy slowed down by the coronavirus disease 2019 (COVID-19) pandemic. SO MUCH FOR SOCIAL DISTANCING. Top leaders of Region 6 discuss at the office of Iloilo City’s Mayor Jerry Treñas ways to restart the local economy on June 10, 2020. From left (back facing the camera): Governors Rhdora Cadiao of Antique, Samuel Gumarin of Guimaras, Eugenio Jose Lacson of Negros Occidental, former Guimaras congressman Rahman Nava and Aklan’s Gov. Florencio Miraflores. From left (facing the camera): former Bacolod City congressman John Orola, Capiz’s Gov. Esteban Evan Contreras, Iloilo’s Gov. Arthur Defensor Jr., Treñas, and former Negros Occidental congressman Albee Benitez. IAN PAUL CORDERO/PN * locally stranded individuals – rapid test at port of entry; 14-day quarantine if test result is non-reactive; if reactive, RT-PCR test must be conducted * enable labor mobility IMPROVE HEALTH SYSTEM * scale-up production of high-demand products All in-bound individuals from any point of origin outside Western Visayas are subject to the following: The region registered a gross domestic product of 9.4 percent in 2015, 8.4 percent in 2016, 8.6 percent in 2017, but it slowed down in 2018 at 6.1 percent. The sooner these are implemented, the better for Region 6’s economy, said Treñas. * improve health system capacity primarily in COVID-19 testing and contact tracing “I think timeline is soon. By June 15 basi magkambyo quarantine classification ta,” he explained. * local government must digital technology to report and monitor COVID patients and contacts, and analyze data INTRA-REGIONAL MARKET These areas of cooperation should not be difficult to implement, according to Benitez. These were identified and agreed upon two years ago yet by governors and congressmen of the Visayas bloc, he pointed out. * identify needs of laboratories * use digital technology for systematic contact tracing * all in-bound travelers must register at StaySafe.ph app * model different scenarios * assist laboratories throughout accreditation process “We understand that the adverse economic impact of the pandemic is the billions,” said Benitez. These areas of cooperation are the following: The region transitioned to modified general community quarantine on June 1. The national government’s Inter-Agency Task Force for the Management of Emerging Infectious Diseases is expected to make another announcement on the quarantine level on or before June 15. Ilonggo senator Franklin Drilon recently urged the Western Visayas Regional Development Council to craft a roadmap aimed at sustaining the region’s growth and development that has been slowed down by the COVID-19 pandemic. “The formulation and implementation of this roadmap is very timely and critical. This roadmap will provide us a clear direction of where we are today and where we are headed. No province should be left behind. We will move forward as one region,” said Drilon./PNlast_img read more