Yesterday Nortel filed bankruptcy. I'm guessing it was a pre-packaged deal because of the way it went down. Seeking Alpha implies that the BK was due to a lack of urgency to turn the company around. Three CEO's that just didn't catch up to Cisco.
Then this morning DSL Reports is discussing how Charter is preparing to file for BK as well.
At Christmas, we saw Level3 escape the BK plunge, when the stock hit a low of $0.57 before jumping back up to $1.60 after the S&P release. Now hoovering at $1.
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