Hawaiian Telcom proposes plan to lower its debt - Hawaii Business

Full story: Honolulu Star-Bulletin

Hawaiian Telcom Communications Inc. filed a proposed turnaround plan to lower its leverage by converting debt into equity in the reorganized company.
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1 - 5 of 5 Comments Last updated Jun 6, 2009
An Observer

Keaau, HI

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#1
Jun 5, 2009
 

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Again, the Lingle Administration was asleep at the switch.

If the State's only land line company goes down -- it's a public health and safety matter.

Although she has been warned over and over about this (just like Aloha Airlines), her answer is that her staff is monitoring the situation.

Lingle, get off your butt and figure something out to help these guys.
Economy

Aiea, HI

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#2
Jun 5, 2009
 

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Yeaman needs to be a manager more than an accountant, otherwise the "turn around" is nothing but a short term cash band-aid. Hawaiian Telcom is filled to the rafters with unmotivated, unskilled morons focused on covering their butts until they can retire. The managers have merely failed their way up and are sinking the ship. Perhaps the follwing is in order - require each of the employees write down what they do. HT will quickly discover a bloated management staff that finds their only task and responsiblity is to attend meetings and sales staff and engineers that don't understand the technology they must sell and support.
Von

Aiea, HI

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#3
Jun 5, 2009
 

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If I had a six million dollar bailout package given to me to do as I please that might help also.

Was it transparent?
No, but it was sure apparent.
Roger

Hawi, HI

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#4
Jun 5, 2009
 
didn't these guys just fight to issue bonus pay to some of its execs? Time to smell the fire boys... the basement is burning!
So typical of older companies that fail to invest in new tech......... and fail to keep up with the times...... losing ground. This is why they should be switching the head guy every 4-5 years...... keep up with the times and innovate.
Patriot

Makawao, HI

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#5
Jun 6, 2009
 
This company is a dead beat that can't pay it's debt, due to an incompetent management staff who doesn't know how to run a communications company effectively. There will be alot of other companies going bankrupt as a result of Hawaiian Telcom paying only 1% to 2% of what it owes to it's creditors.

This will make the economy even worse, since Hawaiian Telcom belongs in Chapter 7 bankruptcy, since their debt is so substantial to their earnings. They've had declining revenues for several years already, and this bad economy will make it even worse for them.

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