Subject: Broadwing hearing: our existing IRU deals in jeopardy
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked]
Date: Wed, 23 Feb 2000 01:49:00 -0800 (PST)

Thanks to Eric Merten and Steve Higgins, I have gathered the following info 
about our 3 present deals under which we grant Infeasible Rights to Use 
(IRU's) our cable thru Wyoming.  Each of these deals has either liquidated 
damages that we must pay if we are late bringing up the system or the 
counterparty may terminate the agreement.  In addition, we would have to 
"de-recognize" substantial revenue already booked if we lost the contracts 
(probably in the approximate amount of $50-100 million).  Further, we are 
negotiating additional IRU deals and capacity deals that would be jeopardized 
by news of additional cuts on our system.  Finally, all our "epowered" 
business (wherein we will transmit, transmit and redeliver internet content) 
and our upcoming bandwidth trading business (which together will become the 
lion's share of our business) would be adversely affected.

I have names and fiber counts, if necessary (though we need to discuss our 
confidentiality obligations). Hope this helps.

Kenton