RCN filed for Chapter 11 bankruptcy protection yesterday. Looks like the bondholders get converted to new equity as expected.

RCN's stock is effectively worthless under the plan as proposed. Holders of RCN's existing preferred stock and common stock will receive, on a basis to be determined, equity warrants that are exercisable into two percent of reorganized RCN's common stock (before giving effect to any management incentive plan), with a two-year term beginning on the consummation of a plan of reorganization, and set at a strike price equivalent to an enterprise valuation of $1.66 billion.


Ah, sweet irony. This afternoon, we were at Loews Lincoln Square to catch Super Size Me, which could very well have been called Fast Food Nation: The Movie. Pretty good overall. Before it started, we tried to buy a kid's pack (what used to be a small popcorn and small drink), but the guy behind the concessions counter refused to sell us one unless we presented a child movie ticket. Keep in mind that this has never happened before, but today of all days... For $4, we got a much better deal afterwards at Pommes Frites.

Filed under: Movies/TV No Comments

A year ago, I would have laughed at this, but now I'm thinking about how to build my own iSeePet. Their demo movie cracks me up! I think this has actually been around for a while, but I hadn't noticed it until I found the AkibaLive site.


Citigroup to Pay $2.65 Billion in Deal With WorldCom Investors. I'm not holding my breath for a big payment. 😉

Financial services giant Citigroup has agreed to pay $2.65 billion to settle class-action suits brought by investors who bought WorldCom Inc. securities before the telecommunications company's bankruptcy filing in 2002.

Finally gave BitTorrent a try over the weekend. Cool concept, and I didn't mind at all that it took half a day to download each of the shows (300-400Mb) over a DSL connection. Had to get Windows Media Player 9 to view 24 (VCD-FFN) and the XviD codec to view Gilmore Girls (HDTV-LOL). Donated some bucks to the author, but it made me think that the television networks could be missing out on the same opportunity that the music-recording industry had.