Tag Archive : bankruptcy

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Let’s state the obvious: Internet in the U.S. sucks. Unless you already have fiber, you’re probably stuck with cable, DSL, or no internet at all because no ISP wants to expand into your area. If you live in a rural area and are lucky to get some form of broadband, you’re probably paying an exorbitant amount for slower than molasses speeds. And most people, about 83.3 million according to a recent report from the Institute for Local Self-Reliance (ILSR), can only access broadband through a single provider. There’s no incentive for major ISPs to actually offer their customers good service. Instead, their focus is on short-term profits—even if that means leaving money on the table and customers on DSL.



a man talking on a cell phone: David Palencia from JFK helps Angel, 13, to connect his computer to the Wifi Hotspot provided by a parked van from JFK Transportation in order to follow his online classes, September 16, 2020, in Santa Ana, California.


© Photo: Valerie Macon / AFP (Getty Images)
David Palencia from JFK helps Angel, 13, to connect his computer to the Wifi Hotspot provided by a parked van from JFK Transportation

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a close up of a bicycle: Acadian Communications was a bidder in the second round for qualified suppliers, but lost to Bell Aliant. 


© John Robertson/CBC
Acadian Communications was a bidder in the second round for qualified suppliers, but lost to Bell Aliant. 

A small Nova Scotia-based company is upset about losing a provincial government contract to deliver high-speed internet, saying the loss could force it out of business.

Acadian Communications of Chéticamp lost to Bell Aliant in the second round of bidding for qualified suppliers to provide high-speed internet service.

It missed the first round of bidding due to a change in company ownership. Bell Aliant was among the successful bidders in that round and is working on providing service in the Chéticamp area.

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Andrew LeBlanc, owner of Acadian Communications, said his company is already preparing to lose customers. 

“As Bell comes in and steals away customers, there’s a point in the not too far future where I think we could go under,” he said.

Acadian Communications provides internet for

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FILE PHOTO: A drilling rig on a lease owned by Oasis Petroleum performs logging operations in the Permian Basin near Wink, Texas U.S. August 22, 2018. REUTERS/Nick Oxford

(Reuters) – Oasis Petroleum Inc OAS.O filed for Chapter 11 bankruptcy protection on Wednesday, the latest U.S. shale producer to seek court-aided restructuring as the energy industry reels from an unprecedented crash in oil prices caused by the COVID-19 pandemic.

The company listed assets and liabilities in the range of $1 billion to $10 billion, according to a court filing.

Oasis said it secured $450 million in debtor-in-possession financing and expects to cut debt by $1.8 billion through the restructuring. It had long-term debt of $2.76 billion with just $77.4 million in cash and cash equivalents as of June 30.

Lockdowns to stem the spread of the virus decimated travel and the demand for fuel, bringing oil drilling to a halt and

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