McLeodUSA
McLeodUSA, based out of Cedar Rapids, Iowa, is one of the nation’s largest independent CLECs (competitive local exchange carriers). The company also has offices in Tulsa, Oklahoma, and The Woodlands, Texas.
McLeodUSA provides integrated communications services, including local services, in 25 Midwest, Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based telecommunications provider with, as of September 30, 2005, 38 ATM switches, 38 voice switches, 697 collocations, 432 DSLAMs and approximately 1,700 employees.
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This company was founded by Clark McLeod, an incipient rags to riches story, McCleod was an Iowa school teacher, who entered into the long distance re-sale business, eventually he sold that business and went into LEC, using the State of Iowa funded fiber backbone as a helpful parallel. The company went public during the dot com boom, entered chapter 11, reorganized, and then met the same fate a few years latter. The company's no longer trades on NASDAQ. Probably available in the pink sheets. At one point the company had a market value in the billons. Most likely, many broken dreams here.
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