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For GST, bankruptcy became only way out.
As time was running out on GST Telecommunications Inc., its interim chief executive officer made it clear during an interview that GST's huge debt-load could force it to seek the protection of bankruptcy court.
"I don't necessarily consider Chapter 11 bankruptcy as the worst thing that could happen to GST," said Tom Malone, who inherited the CEO job less than three months ago.
The day before the May 11 interview, GST disclosed what savvy insiders have known for a long time: GST's huge, $1.2 billion debt was threatening to crush the company.
"That's an awfully big load to carry," Malone said of the debt. But there is reason for hope, he added.
"A plethora of different …
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- GST, investors plunge down a slippery slope.(GST Telecommunications)(Company...
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Magazine article from: Business Journal-Portland
McMILLAN, DAN
May 12, 2000
700+ words
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- GST's CEO leaves, debt load remains.(Brief Article)
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Magazine article from: Business Journal-Portland
McMILLAN, DAN
January 28, 2000
700+ words
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- GST's future isn't looking so dark these days.(GST Telecommunications...
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Magazine article from: Business Journal-Portland
McMILLAN, DAN
July 28, 2000
700+ words
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- GST's board rejected three earlier offers.(Brief Article)(Statistical Data...
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Magazine article from: Business Journal-Portland
McMILLAN, DAN
May 19, 2000
700+ words
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- GST may have rejected prebankruptcy offers.(GST Telecommunications)(Brief...
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Magazine article from: Puget Sound Business Journal
McMILLAN, DAN
May 26, 2000
700+ words
