High debt and low share prices have forced Alamosa Sprint PCS in Lubbock to restructure its debt.
CEO David Sharbutt celebrated the listing of Alamosa PCS on the New York Stock Exchange two years ago. Now, heavily in debt, the local company was forced to take drastic action. Bondholders agreed to exchange their Alamosa bonds for new ones at a lesser amount, helping the company eliminate some of that debt to avoid bankruptcy.
Sharbutt, "The results of the exchange offer we reduced our debt by about $250 million. In addition to that we reduced our cash requirements over the next 5 years, by about $260 million. So it greatly improved our balance sheet and our operations."
Sharbutt says Lubbock Sprint PCS customers can rest assured that there will be no interruption of service or jobs cut as a result of this restructuring plan.
President Donald Trump is attacking conservative lawmakers after the failure of the Republican bill to replace "Obamacare.".
Luke Maye hit a jumper with 0.3 seconds left, and top-seeded North Carolina held off Kentucky 75-73 to earn the Tar Heels' second straight trip to the Final Four and 20th all-time in Sunday's showdown of college...
Luke Maye hit a jumper with 0.3 seconds left, and top-seeded North Carolina held off Kentucky 75-73 to earn the Tar Heels' second straight trip to the Final Four and 20th all-time in Sunday's showdown of college basketball's elite in the South Regional.
A strong low pressure system will approach West Texas Tuesday afternoon and Tuesday night. This storm system will move very slowly.
Sindarius Thornwell scored 26 points and South Carolina earned its first trip to the Final Four with a 77-70 victory over Florida on Sunday.
One person was killed and another 14 injured in a mass shooting at a Cincinnati nightclub early Sunday morning.