Telergy faces mounting losses amid industry slowdown
Telergy has a 2500 mile fiber network from Montreal to New Jersey and Pennsylvania, serving large and small clients and storing data. Founded in 1995 by three brothers, it has run deficits totaling 1121 million as of 1999 and warned of future losses while expanding. Lenders pulled back as telecom demand slowed, delaying a 250 million stock offering and forcing layoffs amid ongoing management unavailability.
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Downtown housing eyed for Perseverance Park site
Developers led by Doucette plan market rate apartments in the Armory Square area, converting office space in the Loew's Building into 15 units on the sixth and seventh floors. City officials consider building a high rise on the Perseverance Park site between Salina and Clinton streets, with financing details to be worked out. The project aims to boost downtown housing near parks and plazas, and would be privately financed rather than subsidized.
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Corrections note on Time Warner rate story
Herald Journal corrects a Tuesday cable rate piece. It clarifies Lorraine Praet does not yet have her bill and explains her five channel tier moved to standard, resulting in lower bills for more than 35 percent, contrary to the initial report. Tim Bunn can be reached for corrections.
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