Telephone & Internet Service Providers Verizon - Northpoint DSL
|
Verizon - www.verizon.com
Complaints.com received the following e-message on January 7, 2001:
From: JJJSD [Email User]
RE: Verizon - www.verizon.com
Dear Sirs or Madam:
Verizon in crunching and destroying all its competition like Northpoint, Rythms, and Covad? Doesn't America support the freedom and chance for all parties on earth to pursue their highest desires as far as achieving goals and making dreams come true, and offering fair competition to offer better deals for customers and consumers. If this is true that Verizon continues to violate the 1996 Telecommunications Act, it is terrible to say the least and anti American wouldn't you say?? If this is true please tell us why, if not please tell us so? Also, in addition to our previous complaint, Please review this claim and lawsuit by Northpoint against Verizon below and there is indication that Verizon and its Executives may have committed criminal acts by filing SEC documents and filings and lying to Northpoint and everyone invloved amongst other serious anti trust violations.
Is it true that you believe in a hnads off approach?? Isn't this a terrible viewpoint to say the least?? Almost like saying hands off on every person that want to take the law into their own hands and physically hurt another innocent person, is this ok then? Why should we approach a monopoly driven company like Verizon and allow them to destroy fair and equitable competition 1996 Telecommunications Act and other Business Laws because you allow a hands off approach?? Now to our complaint below sorry about any errors in a slight rush. Here is Northpoint's letter to the FCC and also Northpoint's complaint and agreement it had with Verizon. http://www.dslprime.com/a/wrongfiled_complaint.pdf We would like to formally make a complaint against Verizon http://www.verizon.com We purchased and bought much of Stock in Northpoint DSL stock as well as many other people we know of, mainly because Verizon indicated that they were purchasing 55% of Northpoint which caused us to invest heavily in Northpoint DSL. By having Northpoint past or present, Verizon would have been able to offer DSL technology to many customers like us of whom have been falsely promised DSL numerous times by Verizon and then on other occasions told we may never get DSL which is a disgrace.
We are military veterans of this great country and feel extremely abused and mistreated by Verizon. It seems by reading complaint Companies and People have submitted to the FCC and other agencies that Verizon has lied about various matters in the past ie;, union matters, long distance phone service, in PA and Mass as well as blocking CLECS in installing DSL etc...and now the false merging promises with Northpoint. It is believed that Mr. Powell isn't supporting fair competition is this correct, the news believes so??? Amongst other things, wouldn't this be a direct violation of the 1996 Telecommuncations Act and other areas concerning antitrust and anti competition regulations??? Verizon needs much help with their DSL expansion and are being sued by their own DSL customers but yet they appeared to have attempted to cause Northpoint to go into bankruptcy on the same token by dropping them unfairly. We feel extremely disgraced and lied to by Verizon by pumping up a stock Northpoint NPNT and promising the shareholders a "NEW NORTHPOINT" in turn canceling a merger and not paying the 800 million owed to Northpoint ultimately the one of whom caused an adverse change in Northpoint which are on the verge of a financial crisis. Northpoint has kept in pace with the other DSL Providers Covad COVD, Rythms RTHM, Dsl.net DSLN etc and have not adversely changed anymore then the rest of the Tech Stocks of which mainly due to Market condition such as Presidential Election Recounts, Greenspan etc have all diminished as experts state approximately 50% this year 2000.
Verizon promised all shareholders a $2.50 payment for each share they owned of the high speed internet provider Northpoint. Verizon made mega statements to the press and to investors by way of the internet and hard copy releases leading us to believe that this merger was a done deal. We feel that there is some unfair practices going on between Verizon Management of which is adversely impacting Northpoint, NPNT investors and the entire DSL world by dropping a DSL Merger which would be clearly beneficial to both parties alike to expand Broadband services so that every person no matter of race color or creed would have fair and equitable access to DSL services. Rumor has it that Verizon promised a merger in August of 2000 with the nearly criminal intent to due exactly what they did to Northpoint, cancel the merger agreement, which would cause the stock NPNT Northpoint to become extremely distasteful and a big negative, resulting in investors selling Northpoint which occurred on the Verizon Cancellation, causing the stock Northpoint NPNT to lose approximately 85%+++ of its value the following business day and presently over 99% of its value because of Verizon's what appears to be by many experts in stocks to be dirty deeds. Others believe that Verizon wanted to make it look good when negotitating with the union by showing the merger with Northpoint around the time of the strike and major disagreements they were having.
It is believed that there may have been a complex scheme to cause adverse change in Northpoint's finance, Verizon intentionally canceling a merger, to attempt to bankrupt Northpoint to obtain all their DSL equipment already located within Verizon's buildings or just to get Northpoint out of the picture to allow Verizon to continue on its merry way and charge people more for services that presently exist . We know many people of which have invested into Northpoint solely because Verizon was promising a merger with Northpoint. My Supervisor and My brother-in-law particularly, veteran investors, were and are extremely appalled and annoyed at the entire matter and partially at me, much more at Verizon for their investments going to nearly "0" which caused them much of a lose. They purchased Northpoint just before Verizon canceled merger. Verizon claims that Northpoint has declined within it's business, THIS is and Lie!
Since Verizon agreed to merger with Northpoint in August of 2000 Northpoint has nearly tripled it business and made many other strategic partnerships which can easily be provided. Also, Northpoint had other merger possibilities prior to and after Verizon so-called promises which has caused such negative unfavorable reaction to Northpoint's stock and business model. Many opportunities that Northpoint had prior to and shortly after the promises of merger with Verizon are long gone now because of Northpoint's present state of extreme decline in monies and stability thanks to the mammoth goliath Verizon. There are many shareholders and customers alike that have their children's college funds within Northpoint NPNT, and are very saddened by the false promises and unfair practices by Verizon. Please support the entire world that desires DSL through fair and decent business dealings and are also being put on hold because of this matter of which has also caused, amongst other things, a slowing up of the network rollout and expansion by Northpoint seeing they have spent much monies expanding DSL Networks believing that Verizon was honest and forthright in their promise to merge business, of which much of the equipment Northpoint has is and was installed within many of Verizon's Central Offices. Please take action to assist Northpoint and Its Shareholders of which have been SEVERELY impacted by these unfair practices to avoid our kids college funds being further stolen by this nearly 150 billion dollar company Verizon.
Some rumor had it that Northpoint would be dropped by Verizon and in turn Verizon would gain control of Northpoint DSL technology and equipment of which is already installed in Verizon's Central Offices, after Northpoint either goes bankrupt or through a hostile takeover down road when Northpoint's stock is at pennies which is presently is. Please support justice and fairness as we are all sure you have strived to do your entire career in your respectful position. Other rumours are that Verizon want's to destroy all of its competition like Northpoint because Northpoint is forcing Verizon to expand DSL, however Verizon makes more money on T-1, T-2, T-3 and ISDN Internet Access and to roll out DSL would me money expanding same and the customers would only pay $40 or so per month instead of $500 to $1,200 per month as they charge for the other services mentioned. Verizon has clearly attempted to smash and eliminate wrongfully a direct competitor of which they falsely promised to merge with. Northpoint is a little professional San Francisco based dedicated company that is similar to an innocent rabbit compared to a raving lion. You have our permission to post this complaint anywhere as well as request our presence if need be for testimony purposes.
Please set the precedence and stop Verizon's false promises and overt actions they have caused us and many other to loose many thousands of dollars and experience emotional distress etc. We wouldn't have bought as many shares of Northpoint if we would have known that Verizon was going to attempt to bankrupt Northpoint by "Material Adverse Change" and Failure to make good on their promise". Verizon misled us and many many other people and shareholders of which can easily be provided to you . This has cause an unfavorable impact to the entire DSL rollout for Northpoint and for many customers still unable to get DSL high speed internet access, especially due to Verizon's dirt deeds. There was absolutely no legitimate reasons for Verizon's termination of Merger agreement, even expert analysts indicate that Northpoint didn't cause adverse decrease in their stock and that market conditions and other variables such as Presidential Election and in general a overall decrease in the tech sector was the reason. Verizon also claimed that Northpoint's financial status has changed, this is wrong, Northpoint's finances obviously decreased because of the DSL expensive rollout knowing that Verizon was going to put their share up as well of the 800 million still owed. Verizon also claimed that Flashcom's bankruptcy was an adverse change in Northpoint, this is wrong as well. Verizon knew all about Flashcom, most of this information was clearly explained prior to the merger and Verizon allegedly dealt with Flashcom prior to merger with Northpoint.
Besides Northpoint switched many of the DSL Lines and equipment Flashcom had to Telocity/GM and Microsoft which corrected any claims Verizon has made concerning this. Also, Verizon failed to give Northpoint reasonable time to correct any claims that they had and was basically ruthless, uncaring and overt in their actions against Northpoint and all involved. Please take immediate action to challenge Verizon http://www.verizon.com and to see to it that Northpoint is compensated, Northpoint was appraised at over $2.1 Billion dollars when the merger agreement was drawn up between Northpoint and Verizon and now they are worth a few million due to Verizon's wrongful termination of the merger that was supposed to be attempted to be worked out up and until 08/07/2001 however as we know Verizon cancelled long before the required contractual date. Please reply to us as soon as possible and log our complaint with all your databases for the judge and hearing officials of your court to review and we would gladly testify if need be in the best interests of justice. Please see to it that the little professional company Northpoint is victimized anymore and that Northpoint and its shareholders are issued the nearly $2.1 Billion Dollars owed to them for this terrible situation. Northpoint has closed and shut its network on 03/29/2001. Please reply to us your thoughts on this tragedy??? I am writing to you also on behalf of a group of NorthPoint Communications shareholders. However, the majority of us are concerned about our common shareholder interests and the lack of support of the corporate officers of NorthPoint in their recent sale of assets to AT&T. It gets better now, Northpoint recently shut down its network to 200+ partners and 100,000'sss of customers.
All of us are aware that, theoretically, our interests are represented by the law firm retained by the Officers of NorthPoint. Unfortunately, we do not have any faith in the decisions made by management especially since there has been no communcations directed specifically to the shareholders of NorthPoint. There are 133 Million outstanding shares!
We are seeking advise on how to gather information on questions that have not been answered by the management of NorthPoint and, possibly, to represent us in the case against Verizon in order to see to it that the Telecommunications Act of 1996 is upheld so that we are fully compensated. Whereby the CLEC Competitive Local Exchange companies like Northpoint and Covad and XO Communications are fairly treated and offered fair access to install their DSL and Other Equipment etc within Verizon locations. This is not occuring, Verizon and other Baby Bells have done everything to destroy the CLECS from offering their services, by blocking orders for installs at CO's to losing orders etc.....Northpoint is suing for a Billion dollars plus punitive damages and if they are successful in the home town San Francisco in front a San Fran jury there is alot of money at stake for us both. Please reply to us with your thoughts.
Please be advised that our stock we own Northpoint Communications NPNT now NPNTQ claimed Chap 11 and is being forced into full blown bankruptcy by the wrongful overt cancellation of a merger by Verizon. Please investigate this matter fully. Neither party is addressing or emailing us a reply to our concerns concerning "Common Shareholders" and the protection of them. Below is also our concerns and complaint against Verizon, we deserve answers as Military Veterans of the USA and shareholders alike and feel discriminated against by both parties, Mainly Verizon at this time. We want to ensure that during these Chap 11 proceedings/sale of assets, that Northpoint caused by Verizon doesn't abuse us any further then what Verizon mainly has already abused us. We want to ensure that Northpoint takes care of us and other common shareholders. Northpoint stock has been up nearly 450%++ days to about $1.47 prior to Chap 11 and then in January 2001 they claimed Chap 11.
Northpoint decides to claim Chap 11 out of the blue with stock price per share rapidly increasing Daily. Please see our complaint below and please reply to us and forward the complaint to them both and other offices if need be to ensure that the common LONG TERM shareholders are treated fairly and equitably. Furthermore, that the Baby Bells like Verizon are STOPPED from doing this nonsense to other companies CLECS etc.. that are trying to exist and see to it that the 1996 Telecommunications Act is followed and adhered to to ensure total quality and fairness and competition is not destroyed causing Monopolies like Verizon seems to have created by destroying Northpoint of which they promised to merge with supposebly to create the largest DSL Network on earth. Recently Northpoint seemed to be forced to except the AT&T steal of a deal, meaning AT&T continued the harassment and mistreatment of Northpoint honest hard working shareholders by stealing Northpoint for a mere $135 Million when in fact Northpoint was worth $300 to $500 Million dollars in addition to 1 + Billion Punitive Lawsuit against Verizon.
Today Verizon announced that they are going to help Covad and AT&T install faster and save millions per year, why didn't they do this sometime ago for Northpoint DSL???? This is not only about many people losing much money and being overcharged because of competition lacking thanks to Verizon, this is about the principle of the matter and that is fairness to all and the opportunity for small companies like Northpoint to expand without being destroyed by a monopoly hungry unfair company of which has more money and trickery of which not only hurts people financial, however they ruin the ability of others to experience DSL or Broadband services, correct? Please follow up on our complaint and reply to us with what action you will take against Verizon and others like them that fail to uphold and comply with the 1996 Telecommunications Act and general fairness and anti trust issues?
Please see these articles which shed more light on our complaint and please reply to us with your thoughts on how you and others in your well respected positions can control Verizon before they continue to ruin the future of technology and the internet which negatively affects everyone in the entire world? Why is the FCC and SEC allowing this tragedy to occur to the innovation and expansion of Technology??
http://www.computertelephony.com/article/CTM20010330S0002 http://www.pbs.org/cringely/pulpit/pulpit20010222.html From: Message Author (click here to email author)Date: Monday, 08-Jan-01 00:00:00 CST Business: Reply Online Consumer: Comment On This |
|