Williams Opinions?

Mon May 6 15:27:14 UTC 2002

> Does anyone have any current opinions on Williams IP service and any
> expected changes with the  Chapter 11?
> 
> Shane

Williams Communications Group Inc. (The "Holding Company") has filed, but this, 
*ostensibly*, should not affect the ongoing operations of their operating 
subsidiary, Williams Communications, LLC. 

>From the Reuters news release on the subject:
--

Williams Communications Files for Chapter 11 
TULSA, Okla. (Reuters) - Williams Communications Group Inc. (OTC BB:WCGR.OB - 
news) said on Monday it has filed for Chapter 11 bankruptcy protection in a bid 
to restructure and cut its debt by about $6 billion. 

The company said it filed for bankruptcy protection in the U.S. Bankruptcy Court 
for the Southern District of New York and expects to file a reorganization plan 
in the ``near future.'' 

Its operating subsidiary, Williams Communications, LLC, is not expected to be 
involved in the Chapter 11 reorganization process, the statement said. 

The company's Chapter 11 filing comes as the battered telecommunications sector 
continues to takes a hammering from heavy competition, a glut of fiber-optic 
networks and bankruptcy filings by other competitors.
--

Caveat emptor, 

FAC.