Subject: Re: STLWEBDEV: St. Louis SDSL providers
Date: Thu, 15 Mar 2001 11:42:27 -0600
Reply-To: stlwebdev@stlwebdev.org
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Yes, it is, I bet your e-mail client is breaking up the URL:
http://www.stltoday.com/stltoday/business/stories.nsf/business/7BAE515
B0251B
FB686256A10002FBDED
Try copy and pasting the entire URL (both lines below) and it should
work.
http://www.stltoday.com/stltoday/business/stories.nsf/business/
7BAE515B0251BFB686256A10002FBDED
On an side note:
I used to be a Bridge employee and I've got pretty extensive
knowledge on
their business plan and products. If they can pull through this tough
time
they will be doing awesome in the future. They had some bad
management and
had a lot of trouble collecting money because of small disputes but
their
new system is bulletproof. I hope they pull through as I'm a Savvis
stock
holder and Bridge's prosperity reflects on Savvis stock price. The
only
reason I quit Bridge was to go into business for myself full time
with
ThoughtProcess.net. It was an awesome place to work.
Here's the text from that article just in case:
WorldCom, Sprint go to court to shut off service to Savvis
By Peter Shinkle
Of The Post-Dispatch
Employees at Bridge and Savvis work side by side.
(Karen Elshout/P-D)
Two major telecommunication providers are threatening to shut down
service
to Savvis Communications Corp. in a dispute over unpaid bills they
say total
at least $26 million.
Such action by WorldCom Inc. and Sprint Corp. not only could hurt
Savvis,
but raises the specter that computer terminals carrying the financial
data
of bankrupt Bridge Information Systems Inc. could go dark around the
world.
Bridge is Savvis' largest customer. Bridge, which owns 48 percent of
Savvis,
is in bankruptcy. Savvis, however, is not.
Together, the two closely related companies employ about 1,000 people
on the
campus they share in Creve Coeur.
WorldCom attorney Robert Simons argued in bankruptcy court Wednesday
that
the company should be able to shut off the telecommunications service
its
provides to Savvis because Savvis owes WorldCom more than $8 million.
Savvis
uses some of the WorldCom services to distribute Bridge data
worldwide.
Bridge attorney Tom Moloney argued WorldCom must comply with a
judge's order
and continue providing the services because they are vital to
Bridge's
operations.
It would be "catastrophic" if WorldCom shut off its services,
with "screens
going dark around the world," he said.
Savvis attorney Robert Brownlee was just as blunt: "If the plug is
pulled,
there'll be no Bridge."
In a later interview, Brownlee declined to comment on how the cutoff
would
affect Savvis. "We have lots of suppliers," he said.
Simons told the judge the dispute was simple. "The fact of the matter
is
that our contract is with Savvis, not Bridge."
He said that bankruptcy law does not permit a company other than the
debtor
in a bankruptcy case to escape its debt obligations. "Savvis should
not hide
behind Bridge's bankruptcy case to get the benefits and not the
burdens," he
said.
In the end, U.S. Bankruptcy Judge David McDonald agreed with Simons,
and
announced he would modify the order he issued Feb. 16 barring
utilities from
terminating Bridge-related services they provide to Savvis.
"Savvis is not in bankruptcy, and it is not appropriate to extend
this
protection to Savvis," McDonald said.
But McDonald also said he was concerned the decision could have a
severe
impact, and he would not sign it until March 23, giving the companies
more
time to work out an agreement under which WorldCom would continue
providing
services to Savvis.
Sprint, which says Savvis owes it at least $18 million, appeared to
be on
the verge of such an agreement Wednesday. However, that deal still
needs
approval from Goldman Sachs, the syndication agent for a group
lending
Bridge $30 million in interim financing to weather its bankruptcy.
The high-stakes negotiations threatened to derail Bridge's interim
funding,
but McDonald approved the loan package led by Goldman Sachs. The new
lenders
are among the 88 banks and other entities who are owed more than $700
million under a secured loan to Bridge, said Bridge attorney Gregory
Willard.
Willard also said Wednesday that Bridge and its investment banker,
Bear
Stearns Cos., have found "several bidders" interested in buying the
company's assets. "The sale process is moving forward well," he said.
Reporter Peter Shinkle:\
E-mail: pshinkle@post-dispatch.com\
Phone: 314-862-2180
----- Original Message -----
From: "LauraGabriel"
To:
Sent: Thursday, March 15, 2001 11:24 AM
Subject: Re: STLWEBDEV: St. Louis SDSL providers
> Hi Matt,
>
>
> Did you save a copy of that article? It's not up anymore.
>
> Laura
>
>
> ---------- Original Message ----------------------------------
> From: "Matt Kaatman"
> Reply-To: stlwebdev@stlwebdev.org
> Date: Thu, 15 Mar 2001 10:38:14 -0600
>
> >Does anyone know of providers in St. Louis (actually St. Peters)
> that work
> >with SDSL?
> >
> >Savvis is looking a little scary based on this article and we may
> need to
> >switch providers asap.
> >http://www.stltoday.com/stltoday/business/stories.nsf/business/7BA
> E515B0251B
> >FB686256A10002FBDED
> >
> >Thanks!
> >
> >Matt Kaatman
> >ThoughtProcess.net
> >http://www.thoughtprocess.net
> >
> >--
> >stlwebdev : Saint Louis Web Developers and Designers Organization
> >To (un)subscribe mailto: majordomo@stlwebdev.org the following
> message:
> >(un)subscribe stlwebdev
> >List Coordinator: G. Hussain Chinoy (hussain@stlwebdev.org)
> >http://www.stlwebdev.org/
> >
>
>
>
>
>
>
>
> --
> stlwebdev : Saint Louis Web Developers and Designers Organization
> To (un)subscribe mailto: majordomo@stlwebdev.org the following
message:
> (un)subscribe stlwebdev
> List Coordinator: G. Hussain Chinoy (hussain@stlwebdev.org)
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--
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