Local

Idearc’s Bankruptcy: Why? A Former Employee’s View

This spring, Idearc Media LLC filed for Chapter 11, planning to reorganize to get out from under massive debt, and in the process, leave thousands of stockholders holding worthless paper. Idearc's failure could easily be thought of as yet another in a long list of companies experiencing woes due to the economy, but is this the actual cause? I think someone should be asking if Verizon itself was responsible for spinning off the company with an unreasonable debt load in the first place.