Friday, October 26, 2007

follow that story: downtown wi-fi

So the news just today is that the free downtown wireless is for the moment being supported pro-bono by a local tech company because the firm that was running the system: US Wireless Online, went bankrupt and terminated their local service 3 weeks ago. 3 weeks ago? It's not the biggest news in the world but given the media interest to date it is odd that there was no mention of the company pulling out and potentially leaving the system in limbo. It's not like it was a secret, the bankruptcy itself was written about. The PBT did give some hint that this was coming a couple months ago. So as not to repeat myself, my comments on that news blurb and the long convoluted history of downtown wireless is in this past post: wi-finito. A recent tech angle to all of this is worth reading: Cisco's Next Municipal Wireless Move.

Actually, look at the businessweek link above announcing the companies bankruptcy. It has a tag line that I presume was composed automatically saying: "UWRL's price was unchanged after the transaction was announced on 10/9/07"... you gotta love pink sheet stocks. The price of the stock was 0.0001 per share... that is no typo, there are 3 zeros after the decimal place. So 1/100 of a cent per share.

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