Hey everybody! Abovenet has a 10G backbone! How exciting, welcome to the 21st century, yeesh. This is news? Heck, even Viatel managed do that last year, and they might be a bigger financial basketcase than Abovenet.
If I recall correctly, Abovenet's intercity fiber comes mostly from some sort of swap of metro for intercity with WilTel way back in the boom, so that fiber is now operated by Level 3. Hooking ULH gear up to it rather than something like Infinera makes sense for Abovenet since they only have 14 markets to hook up - no complexity in design, just raw distance.
Now perhaps Abovenet can do a bit more work on its financials and controls. Since its 2006 10-K filing in May, they don't seem to have made any progress at all. No filings, no earnings releases, no apparent sale of the company going on, nothing. Now, I realize the years 2000-2002 are probably gone, but just how long does it take to fix current operations such that this company can report current progress? Why bother remaining a public company at all in this state, why not just go private like Viatel did?