Summary
1. It is quite amusing that state utility regulators should think their opinion should count on the matter of Hawaiian Telcom. 2. Where were they all these years? 3. The most “devastating effect on [Hawaii]” would be to leave this company intact.
Analysis
It is probably a blessing in disguise in this case that “brutal capital markets conditions [could] put reorganization out of reach.” If Verizon had kept the telco, it would have leveled it anyway.
It is probably no coincidence that Hawaiian Telcom needs an extension. “Sort[ing] out the company’s business affairs” may just be impossible. And creditors in any market environment better think several times before even considering “a Chapter 11 emergence plan.”
Actually, “Hawaii’s quality of life” would only be hindered by this basket case of an ILEC. The people would be better served with an entirely brand new, state-of the-art network that would provide broadband services to all of the islands. They have suffered long enough.
