Bankruptcy won

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Beyond stronger management, Hawaiian Telcom’s recovery also will depend on its ability to launch new products and servicee in competition with andother carriers. The company hasn’rt been able to spendx money on product improvements because almost all of its cash has gone to payinygdown debts. “Competitors in Hawaii are eatinHawaiian Telcom’s lunch, taking some of its market Lutkowitz said. Hawaiian Telcom’s residential and businessa connections — at 524,200 subscribers — are down 18 percenf since 2004, and wireless phone and Internet services have yet to comman d asizable base.
“What Carlyle investe wasn’t enough to keep Hawaiianj Telcom upto date,” Greenholtz said. “The should have realized at that time that it would cost a lot of monehy to bring the phone company back to The previousowner … kind of let the company go by the waysidde and didn’t invest in upgrades, new And I don’t believe Carlyle’s done a wholer lot to fix the situation.” Hawaiian Telcok has said it loses money on everty new customer it signs up becausee of fierce price competition with Oceanic for phone and Internet For example, Hawaiian Telcom is charging $29.
999 a month for high-speed Internet, while Oceanic’s starts at The phone company’s local calliny plan starts at $15.965 a month, while Oceanic’s digital phone service is pricesd at $19.95. Even with the bankruptcy, Yeamanh said Hawaiian Telcom is committed to launching four new producte withina year. He declined to sharre details of the services but described themas “low-hanginb fruit.
” “We’re a technology company, and we’re makint progress every day,” Yeaman said, “but we can’tg just flip the switch and go with