Carlyle Bid for Verizon

[Konaguy]

Re: Carlyle Bid for Verizon

Just as I figured the Hawaii PUC approved the deal.

http://the.honoluluadvertiser.com/ar.../br/br06p.html

PUC approves Carlyle's Verizon Hawaii acquisition

By Sean Hao
Advertiser Staff Writer
The Hawai'i Public Utilities Commission today approved the sale of Verizon Hawaii in a 2-1 decision, removing the final hurdle to the $1.65 billion deal involving Hawai'i's major telephone company.

The decision gives Washington, D.C.-investment The Carlyle Group permission to proceed with the deal that's expected to net Verizon

[Miulang]

Re: Carlyle Bid for Verizon

Welcome to the world of neocon ownership of your phone company. You watch...they're going to get rid of your phone company within 2 years because they're not really interested in giving you guys good phone service...all they want to do is turn around and sell it to somebody else to make a tidy profit for Bush Sr. et al., and whatever the Carlyle Group doesn't want to own, they'll get foreign investors to pay for. After all, they're not a regular phone company, like SBC (which just bought AT&T). They're just a bunch of rich folks trying to control the telecommunications and media companies (besides cornering the market on defense manufacturing) and wanting to make even more money for themselves and their cronies.


Miulang

[Miulang]

Re: Carlyle Bid for Verizon

Sorry...had to delete because it was a duplicate of the comment below.

Miulang

[Miulang]

Re: Carlyle Bid for Verizon

Here's a more indepth analysis of the PUC's decision yesterday to approve Carlyle's bid for Verizon Hawai'i.

My bet is that if the deal goes through the way it's structured (even with some additional conditions added yesterday by the PUC), if Carlyle runs into financial difficulty servicing their debt, they will sell off parts of the company...so your Yellow Pages could be owned by another company, your DSL by another company...etc. It happened up here to us: the Yellow Pages are now owned by another company other than Qwest.

The people who will suffer most are the local businesses, because the PUC is more stringent about consumer protection than it is about protection of businesses. As the cost of doing business for local companies goes up, so will the prices they have to charge.

Miulang

P.S. It's interesting that the Star Bulletin would have a slightly different take on the PUC decision. Their headline proclaimed that the extra conditions put on the sale might be a "deal breaker".

[Konaguy]

Re: Carlyle Bid for Verizon

Well it was nice to see the PUC follow through with the consumer advocates
recommendations. It will be interesting to see what happens next, if Carlyle
walks away or appeals this approval. They have 10 days to do the latter.

[Miulang]

Re: Carlyle Bid for Verizon

Just FYI...here is what Carlyle has been doing for its investors over the past year. If the Verizon sale goes through, you guys will be part of their balance sheet.

Miulang

[Konaguy]

Re: Carlyle Bid for Verizon

Well the PUC granted Carlyle/Verizon's request for extension until April 4th
to analyze the PUC conditional approval. It will be very interesting to see
what transpires.

[ddp337]

Re: Carlyle Bid for Verizon

So it's past April 4 -- any news?

[Konaguy]

Re: Carlyle Bid for Verizon

http://starbulletin.com/2005/04/05/business/story3.html

The Carlyle Group and Verizon Hawaii have received another extension from the state Public Utilities Commission to decide whether to ask for reconsideration of conditions placed on the investment group's $1.65 billion acquisition of Hawaii's dominant local phone company

[ddp337]

Re: Carlyle Bid for Verizon

Thanks for the update...

The question then becomes, how many more of extensions before they decide something?

[Konaguy]

Re: Carlyle Bid for Verizon

Good question, I e-mailed the PUC that same question.
I do know that any extensions need approval of the
majority of the PUC board.

[Miulang]

Re: Carlyle Bid for Verizon

Well, wonder no more. Carlyle accepted the new terms of the sale and the deal should close within a month. Once that happens, it will be interesting to see how much of what Carlyle promised will come to pass. Looks like they now have one of the union spokesmen on their side, too.

Miulang

[waioli kai]

Carlyle corporatUSt elites

"Welcome to the world of neocon ownership of your phone company. You watch...they're going to get rid of your phone company within 2 years because they're not really interested in giving you guys good phone service...all they want to do is turn around and sell it to somebody else to make a tidy profit for Bush Sr. et al., and whatever the Carlyle Group doesn't want to own, they'll get foreign investors to pay for. After all, they're not a regular phone company, like SBC (which just bought AT&T). They're just a bunch of rich folks trying to control the telecommunications and media companies (besides cornering the market on defense manufacturing) and wanting to make even more money for themselves and their cronies." ---Miulang March 16th, 2005, 05:44 PM

Such is the nature of US Corporatism, which is one and the same as US Fascism. Most amazingly, as a society, we generally accept its being called "democracy", "free-enterprise", and similar such pleasantries; such are the shameless joys of being within (albeit if only a pawn to the elite) the body of such fascist states of corruption. There is nothing that is not corrupted.

"The (PUC 2-1) decision (to approve Carlyle purchase of Verizon) gives Washington, D.C.-investment The Carlyle Group permission to proceed with the deal that's expected to net Verizon Communications Inc. more than $850 million while tripling the debts of the local phone company from $427 million to $1.39 billion." http://the.honoluluadvertiser.com/a...6/br/br06p.html

If only everyone could artificially inflate the apparent worth of their investments with "creative financing". By tripling the debt of Verizon Hawaii (Carlyle's Verizon Hawaii investment shares being incestuously born of Carlyle's GTE Hawaii investment shares), Carlyle has effectively pulled off yet another capitalUSt $cam on which feasts its anonymous clientele of corporatUSt elites whom Americans worship to the detriment of all humanity present and future.

[Miulang]

Re: Carlyle Bid for Verizon

Apparently, those of you who subscribe to Verizon DSL service have been told that what was given to you for free (spam blocking, and virus protection services) will start costing you $9.95 early next year.

Not only that, starting April 30 customers of both Verizon Hawaii and Verizon Wireless no longer will be able to pay for both services on one bill, and starting this month Verizon Hawaii customers are no longer able to pay their phone bills at Verizon's Web site.

We sort of went through the same thing when Comcast took over internet services from ATT a couple of years ago. Except in our case, we wanted us to consolidate our cable modem and cable TV bills, and we said no thanks.

I'm sure Hawai'i will see more changes now that Carlyle has entered the communications market in your area.


Miulang

[Konaguy]

Re: Carlyle Bid for Verizon

I'm sure Hawai'i will see more changes now that Carlyle has entered the communications market in your area.

MSN Premium was free if you subscribed to Verizon Online DSL. Thats what
the article was talking about. Since TCG bought Verizon Hawaii along
with Verizon Online DSL account here...thats why the transition.

As for other changes, don't expect much changes until early 2006. There
will be a 9 month transition period from the May 2005 closing date.