PDA

View Full Version : Deal to buy Verizon Hawaii expected from Carlyle Group



NewsBot
May 21st, 2004, 12:15 AM
{br}Deal to buy Verizon Hawaii expected from Carlyle Group (http://www.allheadlinenews.com/cgi-bin/news/news.cgi?id=4340539253){br}honoluluadvertiser.com - May 21 2004 15:5:0 GMT{br}{br}This article was posted automatically. Comments are welcome!

Mocha
May 21st, 2004, 11:27 AM
I have Verizon stocks...I think and whatever makes more money I'm for it...I think! :p

ontheleft
May 21st, 2004, 02:36 PM
buying doggy defense stocks for a song, then sitting back and watching as fat new contracts magically come their way.

Doesn't hurt that George H.W. Bush (the elected one) is on their board of directors, along with many other heavy hitters.

The Star-Bulletin article (Breaking News section) points out that Carlyle also vacuumed up Horizon Lines from CSX. Throw in Verizon and you have the makings of a new "Big Five"-type company, one with even closer ties to the far right than the original ones ever had. If I were one of the interisland carriers, especially privately held Aloha, I'd look out for the Carlyle sharks circling around me!

Be afraid. Be very afraid...

pzarquon
May 21st, 2004, 06:07 PM
The deal's done:
Verizon sells Hawai'i operations for $1.65 billion (http://the.honoluluadvertiser.com/article/2004/May/21/br/br02p.html)

[Verizon spokesman Bill] Kula said the isolation of Hawai'i, high Internet demand here and significant reliance on long-distance service made its purchase enticing.Ah, a captive audience!

Still, interesting. A new name, local operations (and more jobs)... On the surface, it seems a Hawaii-based operation is better for everyone, rather than Verizon Hawaii being a semi-severed limb hanging off the side of a national giant. I wonder what name they'll give it? It seems efforts by large corporate monoliths to pick something that "epitomizes the spirit and style of the islands" are mostly hit-or-miss affairs.

The Carlyle Group (http://www.thecarlylegroup.com/) has interesting ties, to be sure (G.W. Bush and the ostensibly Osama-free Bin Laden clan?). For now, the competitors probably have the most to worry about. Friends in high places indeed.

kukui_nut
May 27th, 2004, 03:15 PM
buying doggy defense stocks for a song, then sitting back and watching as fat new contracts magically come their way.

Doesn't hurt that George H.W. Bush (the elected one) is on their board of directors, along with many other heavy hitters.

The Star-Bulletin article (Breaking News section) points out that Carlyle also vacuumed up Horizon Lines from CSX. Throw in Verizon and you have the makings of a new "Big Five"-type company, one with even closer ties to the far right than the original ones ever had. If I were one of the interisland carriers, especially privately held Aloha, I'd look out for the Carlyle sharks circling around me!

Be afraid. Be very afraid...
We are...

But if they are as power-backed as you say then "resistance is futile," no?
Once the Titanic finds it's course, the local "outriggers" dun stand a chance...

Are you the guy introducing yourself out of my left-side car speaker every morning?

pzarquon
July 13th, 2004, 08:24 AM
Verizon Hawaii sale sparks criticism (http://starbulletin.com/2004/07/13/business/story1.html)
Competitors and the military have filed motions to intervene in the proposed $1.65 billion deal
Dave Segal, Honolulu Star-Bulletin, July 13, 2004

Pacific LightNet Inc., a Honolulu-based telecommunications provider, filed a motion with the state Public Utilities Commission yesterday opposing the Carlyle Group's $1.65 billion proposed acquisition of local telephone provider Verizon Hawaii. In addition, the U.S. Defense Department and others are concerned about Carlyle's plans to revamp Verizon's back-office operations. It's not so much the political connections that are giving folks pause as it is the past history of Carlyle Group's buy, gut, and sell strategy. A company whose business is simply messing with (rather than improving) smaller businesses is probably not a good idea for a company that has a near monopoly on telecommunications infrastructure here. By 2007 they'll be out of here, and we'll all be cleaning up the mess.