abstract:NorthPoint Communications (Former NASDAQ: NPNT) was a CLEC (competitive local exchange carrier), focused on data transmission rather than voice. Its business plan involved leasing copper telephone lines from local phone companies, then selling them at wholesale prices to Internet service providers, which in turn sold business and residential DSL service.
Nothing like a shopping spree at a fire sale--courtesy of would-be fiber giants like NorthPointCommunications and 360 Communications as they spiral into bankruptcy and unload their assets at a fraction of the cost.