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Cellular Phone Forum / Country Specific / Australian Group / September 2004Comindico placed in hands of Administrators
Comindico, one of Australia's largest wholesale ISPs, was placed in administration last night. ISPs reselling Comindico include high-profile names such as Dodo and Aardvark Internet. It is understood that the administration was triggered by the actions of Cisco, which refused to give further money to Comindico after previously financing $175M of Comindico's network hardware purchases. It is not yet clear whether the administrator, Ferrier Hodgson, will continue to provide Comindico services to retail ISPs. The following article appeared today on afr.com: Internet telco Comindico sinks Sep 23 17:46 Comindico, the telecommunications group that spent more than $400 million building Australia's biggest internet-based voice, data and video network, has been placed in administration. Just eight months after it launched its highly anticipated an internet phone service and four years after it made headlines by securing one of the largest private equity raisings in Australian history, directors of the struggling group handed it over to Ferrier Hodgson. Ferrier Hodgon's Peter Walker confirmed Comindico was placed in voluntary administration late on Wednesday night and said technology equipment vendor Cisco was the largest unsecured creditor. It is understood Comindico was placed into administration after a last-ditch attempt by major shareholder JP Morgan to raise capital from third parties failed. As well as the high-profile investment bank, Comindico, which was founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, Rupert Murdoch, AGL and AMP Asset Management as investors. Damn, wait for the doodoo to hit the fan.. and our prices for the net to go up > The Family wrote: > [quoted text clipped - 34 lines] > founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, > Rupert Murdoch, AGL and AMP Asset Management as investors.  SignatureX-No-Archive: Yes > Damn, wait for the doodoo to hit the fan.. Only for those using those ISPs. > and our prices for the net to go up Taint gunna happen, you watch. >> The Family wrote: >> [quoted text clipped - 34 lines] >> founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, >> Rupert Murdoch, AGL and AMP Asset Management as investors. > > Damn, wait for the doodoo to hit the fan.. > > Only for those using those ISPs. not a damn clue as always > > and our prices for the net to go up > > Taint gunna happen, you watch. NOt a damn clue as always , no wonder you are totally unemployable . > >> The Family wrote: > >> [quoted text clipped - 37 lines] > > -- > > X-No-Archive: Yes SignatureX-No-Archive: Yes Some gutless fuckwit that cant even manage its own lines, or anything else at all either, desperately cowering behind and fooled absolutely no one at all. As always. > > Damn, wait for the doodoo to hit the fan.. > [quoted text clipped - 3 lines] > > Taint gunna happen, you watch. it did after onetel went bust with mobiles > >> The Family wrote: > >> [quoted text clipped - 34 lines] > >> founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, > >> Rupert Murdoch, AGL and AMP Asset Management as investors. >> atec <"atec77("@hotmail.com> wrote >>> Damn, wait for the doodoo to hit the fan.. >> Only for those using those ISPs. >>> and our prices for the net to go up >> Taint gunna happen, you watch. > it did after onetel went bust with mobiles Broadband is completely different. Even you must have noticed that recently it was actually Telstra that drove the price down at the low end. Comindico did drive the market to some extent with unlimited volume until they decided that that wasnt going to fly. The Comindico resellers arent actually the cheapest with broadband, most obviously with exetel which aint a comindico reseller. >> >> The Family wrote: >> >> [quoted text clipped - 34 lines] >> >> founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, >> >> Rupert Murdoch, AGL and AMP Asset Management as investors. "The Family" <someone@somewhere.com> said > Comindico, one of Australia's largest wholesale ISPs, was placed in > administration last night. More info here: http://www.smh.com.au/articles/2004/09/23/1095651464191.html?oneclick=true SignatureKwyj. (Remove your panties to reply by email) > "The Family" <someone@somewhere.com> said > [quoted text clipped - 3 lines] > More info here: > http://www.smh.com.au/articles/2004/09/23/1095651464191.html?oneclick=true Try it with this link and you escape the silly registration stuff: http://www.smh.com.au/articles/2004/09/23/1095651464191.html Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in message news:Xns956DCF8DFD905ssss@130.133.1.4... > The Family <someone@somewhere.com> said >> Comindico, one of Australia's largest wholesale >> ISPs, was placed in administration last night. > More info here: > http://www.smh.com.au/articles/2004/09/23/1095651464191.html Gunna be interesting to see if iinet buys it. "Rod Speed" <rod_speed@yahoo.com> said > Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in > message news:Xns956DCF8DFD905ssss@130.133.1.4... [quoted text clipped - 7 lines] > > Gunna be interesting to see if iinet buys it. Would they have the cash? Seems like a good opportunity for Optus/XYZed to pick up a huge number of customers and Singtel have definitely got deep enough pockets. Just wondering if they've got the guts to go with it...... SignatureKwyj. (Remove your panties to reply by email) Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in message news:Xns956ED807191CAssss@130.133.1.4... > Rod Speed <rod_speed@yahoo.com> said >> Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote >>> The Family <someone@somewhere.com> said >>>> Comindico, one of Australia's largest wholesale >>>> ISPs, was placed in administration last night. >>> More info here: >>> http://www.smh.com.au/articles/2004/09/23/1095651464191.html >> Gunna be interesting to see if iinet buys it. > Would they have the cash? Yep. > Seems like a good opportunity for Optus/XYZed to pick up a huge number > of customers and Singtel have definitely got deep enough pockets. True. Not clear what the ACCC would think of that tho. Singtel doesnt appear to be that keen on broadband, VERY late with a viable adsl offer. > Just wondering if they've got the guts to go with it...... I doubt it, they appear to have decided that they're stuck with their broadband over cable and that its a rat hole for their money. I'd be surprised if they are prepare to spend heaps on buying comindico. iinet might well, they've been spending like a drunken sailor for ages now. Interesting times in the chinese curse sense. > Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in > message news:Xns956ED807191CAssss@130.133.1.4... [quoted text clipped - 21 lines] > Singtel doesnt appear to be that keen on broadband, > VERY late with a viable adsl offer. I wonder why? > > Just wondering if they've got the guts to go with it...... > > I doubt it, they appear to have decided that they're stuck with their > broadband over cable and that its a rat hole for their money. I'd be > surprised if they are prepare to spend heaps on buying comindico. It might be the perfect opportunity for them to catch up with the years and years they are behind in the ADSL industry >> Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote >>> Rod Speed <rod_speed@yahoo.com> said >>>> Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote >>>>> The Family <someone@somewhere.com> said >>>>>> Comindico, one of Australia's largest wholesale >>>>>> ISPs, was placed in administration last night. >>>>> More info here: >>>>> http://www.smh.com.au/articles/2004/09/23/1095651464191.html >>>> Gunna be interesting to see if iinet buys it. >>> Would they have the cash? >> Yep. >>> Seems like a good opportunity for Optus/XYZed to pick up a huge number >>> of customers and Singtel have definitely got deep enough pockets. >> True. Not clear what the ACCC would think of that tho. >> Singtel doesnt appear to be that keen on broadband, >> VERY late with a viable adsl offer. > I wonder why? Likely the usual problem, run by a massive govt owned bureaucracy, in another country. >>> Just wondering if they've got the guts to go with it...... >> I doubt it, they appear to have decided that they're stuck with their >> broadband over cable and that its a rat hole for their money. I'd be >> surprised if they are prepare to spend heaps on buying comindico. > It might be the perfect opportunity for them to catch up with > the years and years they are behind in the ADSL industry Sure, but with the very aggressive discounting we have seen with adsl, its unlikely to be earning anyone huge money any time soon, specially now that Telstra has chosen to have very aggressive pricing at the low end. "Rod Speed" <rod_speed@yahoo.com> said > Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in > message news:Xns956ED807191CAssss@130.133.1.4... [quoted text clipped - 18 lines] > > True. Not clear what the ACCC would think of that tho. Good point. > Singtel doesnt appear to be that keen on broadband, > VERY late with a viable adsl offer. But they're going at it pretty strong now with their VoDSL product. DSLAMs seem to be going in at a prety rapid rate too. >> Just wondering if they've got the guts to go with it...... > > I doubt it, they appear to have decided that they're stuck with their > broadband over cable Only for residential. Their business arm is pushing DSL pretty hard. > and that its a rat hole for their money. I'd be > surprised if they are prepare to spend heaps on buying comindico. Cheaper than putting in their own DSL network, which is what they are currently doing. > iinet might well, they've been spending like a drunken sailor for ages now. That's why I was wondering if they've currently got the money to splash around. The wallet would have to be nearly empty by now. > Interesting times in the chinese curse sense. Yep. It'll be interesting to see how it pans out. SignatureKwyj. (Remove your panties to reply by email) Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in message news:Xns9570DE5CDC899ssss@130.133.1.4... > Rod Speed <rod_speed@yahoo.com> said >> Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote >>> Rod Speed <rod_speed@yahoo.com> said >>>> Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote >>>>> The Family <someone@somewhere.com> said >>>>>> Comindico, one of Australia's largest wholesale >>>>>> ISPs, was placed in administration last night. >>>>> More info here: >>>>> http://www.smh.com.au/articles/2004/09/23/1095651464191.html >>>> Gunna be interesting to see if iinet buys it. >>> Would they have the cash? >> Yep. >>> Seems like a good opportunity for Optus/XYZed to pick up a huge number >>> of customers and Singtel have definitely got deep enough pockets. >> True. Not clear what the ACCC would think of that tho. > Good point. >> Singtel doesnt appear to be that keen on broadband, >> VERY late with a viable adsl offer. > But they're going at it pretty strong now with their VoDSL product. > DSLAMs seem to be going in at a prety rapid rate too. Yeah, absolutely classic with the massive bureaucracys, very late to do something, then they just carry on regardless with what they do eventually decide to do. Which makes it less likely that they would be likely to change course now to take advantage of the very cheap comindico network becoming available now, even if the ACCC didnt care. They might have done it if comindico had fallen over earlier. Lets not forget that Optarse chose to buy their dialup network initially, buying Microplex. >>> Just wondering if they've got the guts to go with it...... >> I doubt it, they appear to have decided that >> they're stuck with their broadband over cable > Only for residential. Their business arm is pushing DSL pretty hard. Sure, but thats not that relevant to buying comindico now. >> and that its a rat hole for their money. I'd be surprised >> if they are prepare to spend heaps on buying comindico. > Cheaper than putting in their own DSL network, > which is what they are currently doing. Sure, but its gunna be hard to get the massive bureaucracy to agree to change horses now. >> iinet might well, they've been spending like a drunken sailor for ages now. > That's why I was wondering if they've currently got the money to > splash around. The wallet would have to be nearly empty by now. Easy to raise more now that they are publicly listed. >> Interesting times in the chinese curse sense. > Yep. It'll be interesting to see how it pans out. "Rod Speed" <rod_speed@yahoo.com> said <stuff> What's up with your news client? It's trimming the references header and f.cking up the threading. SignatureKwyj. (Remove your panties to reply by email) > "Rod Speed" <rod_speed@yahoo.com> said > <stuff> > > What's up with your news client? It's trimming the references header and > f.cking up the threading. Not on my pissy Mozilla newsreader, thread perfectly intact here. > "Rod Speed" <rod_speed@yahoo.com> said > <stuff> > > What's up with your news client? It's trimming the references header and > f.cking up the threading. looks alright in knode Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in message news:Xns9571CF32073CBssss@130.133.1.4... > Rod Speed <rod_speed@yahoo.com> said > What's up with your news client? Nothing. > It's trimming the references header > and f.cking up the threading. Its threading fine here and that particular post of mine that you replied to has References: <41528856@duster.adelaide.on.net> <Xns956DCF8DFD905ssss@130.133.1.4> <2rgibdF19a4rvU1@uni-berlin.de> <Xns956ED807191CAssss@130.133.1.4> <2rj9fbF1av6vsU1@uni-berlin.de> <Xns9570DE5CDC899ssss@130.133.1.4> as it should. "Rod Speed" <rod_speed@yahoo.com> said > Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in > message news:Xns9571CF32073CBssss@130.133.1.4... [quoted text clipped - 3 lines] > > Nothing. I dunno what's going on. Your replies to this thread aren't appearing in aus.comms.mobile and most of mine aren't appearing in aus.comms. All posts are in aus.computers. Got me f.cked...... SignatureKwyj. (Remove your panties to reply by email) Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in message news:Xns9572B585A7E9Assss@130.133.1.4... >> Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote >>> What's up with your news client? >> Nothing. > I dunno what's going on. Something f.cked at your end. > Your replies to this thread aren't appearing in aus.comms.mobile and most > of mine aren't appearing in aus.comms. All posts are in aus.computers. > Got me f.cked...... I just said that. Getta real news client, stupid. "Rod Speed" <rod_speed@yahoo.com> said > Getta real news client, stupid. It might be working correctly. It could be the 'stoopid' filter blocking both of our posts. SignatureKwyj. (Remove your panties to reply by email) Kwyjibo <KwyjiboYourPanties@ozdebate.com> wrote in message news:Xns9572B8B5642C3ssss@130.133.1.4... >> Getta real news client, stupid. > It might be working correctly. Clearly isnt if it isnt showing the posts correctly. > It could be the 'stoopid' filter blocking both of our posts. Still qualifys as something f.cked at your end. And if it was properly designed, it wouldnt be possible to f.ck up the filter so badly. Getta real news client, stupid. How does this affect Dodo internet? And how will it effect the roll out of the Dodo mobile stores? Comindico, one of Australia's largest wholesale ISPs, was placed in administration last night. ISPs reselling Comindico include high-profile names such as Dodo and Aardvark Internet. It is understood that the administration was triggered by the actions of Cisco, which refused to give further money to Comindico after previously financing $175M of Comindico's network hardware purchases. It is not yet clear whether the administrator, Ferrier Hodgson, will continue to provide Comindico services to retail ISPs. The following article appeared today on afr.com: Internet telco Comindico sinks Sep 23 17:46 Comindico, the telecommunications group that spent more than $400 million building Australia's biggest internet-based voice, data and video network, has been placed in administration. Just eight months after it launched its highly anticipated an internet phone service and four years after it made headlines by securing one of the largest private equity raisings in Australian history, directors of the struggling group handed it over to Ferrier Hodgson. Ferrier Hodgon's Peter Walker confirmed Comindico was placed in voluntary administration late on Wednesday night and said technology equipment vendor Cisco was the largest unsecured creditor. It is understood Comindico was placed into administration after a last-ditch attempt by major shareholder JP Morgan to raise capital from third parties failed. As well as the high-profile investment bank, Comindico, which was founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, Rupert Murdoch, AGL and AMP Asset Management as investors. > How does this affect Dodo internet? Likely the sh.t will hit the fan a tad, particularly with broadband. > And how will it effect the roll out of the Dodo mobile stores? Unlikely to affect that much. "The Family" <someone@somewhere.com> wrote in message news:41528856@duster.adelaide.on.net... Comindico, one of Australia's largest wholesale ISPs, was placed in administration last night. ISPs reselling Comindico include high-profile names such as Dodo and Aardvark Internet. It is understood that the administration was triggered by the actions of Cisco, which refused to give further money to Comindico after previously financing $175M of Comindico's network hardware purchases. It is not yet clear whether the administrator, Ferrier Hodgson, will continue to provide Comindico services to retail ISPs. The following article appeared today on afr.com: Internet telco Comindico sinks Sep 23 17:46 Comindico, the telecommunications group that spent more than $400 million building Australia's biggest internet-based voice, data and video network, has been placed in administration. Just eight months after it launched its highly anticipated an internet phone service and four years after it made headlines by securing one of the largest private equity raisings in Australian history, directors of the struggling group handed it over to Ferrier Hodgson. Ferrier Hodgon's Peter Walker confirmed Comindico was placed in voluntary administration late on Wednesday night and said technology equipment vendor Cisco was the largest unsecured creditor. It is understood Comindico was placed into administration after a last-ditch attempt by major shareholder JP Morgan to raise capital from third parties failed. As well as the high-profile investment bank, Comindico, which was founded by dot com entrepreneur Wayne Passlow, counted Kerry Packer, Rupert Murdoch, AGL and AMP Asset Management as investors. Hey Rod! Weren't you predicting something like this months ago when people were asking the usual questions about what ISP to use? Interesting to see Packer and Co. burnt again. >> How does this affect Dodo internet? > [quoted text clipped - 37 lines] > dot com entrepreneur Wayne Passlow, counted Kerry >Packer, Rupert Murdoch, AGL and AMP Asset Management as investors. Cheers, Phred. SignatureppnerkDELETE@THISyahoo.com.INVALID > Hey Rod! Weren't you predicting something like this months ago > when people were asking the usual questions about what ISP to use? Yep, its always been a very marginal operation financially. > Interesting to see Packer and Co. burnt again. True. I'd love to be a fly on the wall at Kerry's place |-) >> Vinnie <destef1@bigpond.com.au> wrote >>> How does this affect Dodo internet? >> [quoted text clipped - 37 lines] >> dot com entrepreneur Wayne Passlow, counted Kerry >>Packer, Rupert Murdoch, AGL and AMP Asset Management as investors. >How does this affect Dodo internet? If Comindico turn off every piece of equipment they own ... Well, first off, comindico were providing ADSL + internet for dodo to resell. So all dodo ADSL customers would be turned off. their adsl modems would not get sync. they would get no data, no service. Dodo could try to get the customers connected with someone else, but in fact that requires *churning* the customers. > And how will it effect the roll out of the Dodo mobile stores? Well the only way I can see for comindico to affect mobile phones is that if DooDoo went bankrupt becauser of the lack of supply of cheap adsl to resell, you cant have DooDoo mobile stores. bankrupt companies dont open stores. > >How does this affect Dodo internet? > > If Comindico turn off every piece of equipment they own ... They are in voluntary administration currently, its going to be carved up and sold. So doubtful they will turn it off > Well, first off, comindico were providing ADSL + internet for dodo to > resell. [quoted text clipped - 3 lines] > Dodo could try to get the customers connected with someone else, but in fact > that requires *churning* the customers. So/ >> >How does this affect Dodo internet? >> [quoted text clipped - 3 lines] >and sold. >So doubtful they will turn it off Like trying to sell Ansett as a going concern? Or would Mitsubishi Aus be a better comparison? >>> >How does this affect Dodo internet? >>> [quoted text clipped - 3 lines] >>and sold. >>So doubtful they will turn it off > Like trying to sell Ansett as a going concern? > Or would Mitsubishi Aus be a better comparison? Neither. Dingoblue and EISA are much closer. >>> >How does this affect Dodo internet? >>> [quoted text clipped - 5 lines] > > Like trying to sell Ansett as a going concern? I believe the expensive servicing price tag for Ansett aircraft made it difficult to sell it. Just prior to bankrupcy they had big trouble with their largest aircraft and were facing the high price of doing complete overhauls of all craft . They also had unusual business practice, eg too many soft ticket sales -sales of tickets that you the buyer got a refund on if they werent used. (eg free domestic tickets given out by qantas with international tickets.. so when the passenger didnt use the domestic ticket, qantas didnt pay for it.. ) >>> >How does this affect Dodo internet? >>> [quoted text clipped - 7 lines] > a > better comparison? Not really Ansetts airplanes were up for very expensive overhaul or replace. With the 2nd hand aircraft market totally shot, no real chance to replace. and these were craft that hadnt paid for themselves yet. |
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