🚀 go-pugleaf

In article <20011114134049.G13430-100000@shell5.ba.best.com>,
Daniel Myers  <dhm@best.com> wrote:
>NTT will take an extraordinary loss of as much as $4.5 billion on
>the value of Verio Inc...NTT purchased 90% of Verio...for $5 billion
>near the height of the technology boom last year...it was the
>third-largest over-seas acquisition by a Japanese company...According
>to people familiar with the plans, the restructuring will shutter
>half of Verio's 50 data centers...reduce Verio's 3'250 employee
>work force by 25%...under the restructuring plan, Verio hopes to
>exit from the dial-up Internet access business by the middle of
>next year...

I had heard some other buzz about this.  Is it in any way news?
I'm baffled that anyone who has seen the inside of this would
consider it news.  Of course, Verio's stock valuation would have
dropped with everyone else's this year.  NTT bought at $60/share(!).
Would you want to buy into Verio at $6/share today?  Possibly.
Reduce the workforce by 25%?  That's a tiny reduction compared to
what most Internet companies are doing.  Exit the dial-up access
business?  They already closed the Best dialups, and have said from
day one they consider themselves a web hosting company.  I wonder
why it will take them until the middle of next year.  I'll say
again:  Where is the news?  I could have written this article this
summer.  If NTT were serious, they'd cut the staff more and get out
of dialup tomorrow, but they can afford to lose the money.