Only yesterday I posted my column for Business 2.0 and questioned the long term viability of guys like Mcleod USA. Now the Daily Deal reports that Cedar Rapids, Iowa company is planning to try a sale of fiber optic cable assets called off during a 2002 bankruptcy.
bq. McLeodUSA said because of sluggish revenue growth, its looking for ways to conserve cash. The company, controlled by private equity firm Forstmann Little & Co., has fiber cable stretching through 25 states in the Midwest, Southwest and Northwest. McLeod said it dropped previous plans to sell fiber it doesnt need because of the success of other divestitures, which raised about $1 billion in 2002. McLeod said it expects $50 million from the sales this year. The company is not using a financial adviser. (The Daily Deal)