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Syracuse Herald Journal in Syracuse, New York

26 Aug 2001

Page 4

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This newspaper page contains 2 articles. Subscribers can read the full text of each article.

Newspaper

Syracuse Herald Journal

Location

Syracuse, New York, United States of America

Date

Aug 26, 2001

Page

4

Telergy investors ride telecom bust amid layoffs and crisis

Telergy confronts a cash squeeze after a 150 worker layoff, executives resignations, and interim financing. Seneca Financial Group to audit books and map a plan for lenders while the board is reconstituted. Despite strong fiber assets, analysts say capital is scarce and only the strongest survive.

MENTIONED IN THIS ARTICLE

James Harris Telergy Harris Seneca Financial Group Inc Greenwich Con Seneca Financial Hastis Bran Kevin William Kelly Bane of America Securities Meril Lynch Lon Frocione Frocione Frank Zaccanelli Dallas Zaccanelli Fred Couples Michael Johnson Zaccunelli Wlecom Niagara Mohawk MasTec Global Crossing CIBC Wall Street Journal Level 3 Communications New York City
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Telergy struggles amid leadership exits and financing crisis

Telergy, a six year old fiber network operator in New York and the Northeast, faces a crisis after laying off 150 workers with no severance and seeking new financing. Founders and executives resigned or were replaced, a crisis manager oversees operations, and the company owes substantial debts while awaiting a possible restructuring. Customers report no disruptions as Telergy weighs options on infusion of money and continued service.

MENTIONED IN THIS ARTICLE

New York Telergy Ccal Frank Harrigan Telecom Harigan A Telergy Northeast Bell Canada State University College At Brian Kevin William Kelly J. Patrick Barrett Telerey Banc of America Securties Merrill Lynch MasTec Teleray Tuptey Harris New York City
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Also Mentioned on This Page

Syracuse.com 5Th Dimension Florence LaRue Charlie Daniels Leigh Baldwin Science & Industry Building Syracuse. Com Pear Fred Stickley Henredon Hickory Chair Telergy Inc Tom Young Syracuse Barrett GOP Terry McAuliffe Democratic National Committee John O'Mara Public Service Commission NBA Roger Staubach Ross Perot Jr O'Mara McAuliffe West Palm Beach Fla Florida SiOb Mme Sree Metropolitan Museum of Art Corning Museum of Glass Tena
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