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Thread: Connexion, Capitol Broadband, and why Glen Lang Sucks

  1. #211
    johnb is offline Verified 3-Star Forum General
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    Default Re: Connexion, Capitol Broadband, and why Glen Lang Sucks

    Let this sorry episode be a warning to anyone who would enter into any type of business dealing with someone as corrupt as Glen Lang.

    ---------------

    By John Murawski - jmurawski@newsobserver.com

    Tags: Connexion Technologies | Capitol Broadband | Glen Lang | Layoffs | Bankruptcy

    Connexion Technologies, a Cary business that once employed more than 600 people, is abruptly ending its 10-year run with a scheduled shutdown Thursday.

    The heavily leveraged company, which filed for bankruptcy protection in April, notified the N.C. Department of Commerce that is has auctioned off assets to various buyers and will terminate many of its remaining 89 employees.

    At least 40 Connexion employees will continue with one of the asset purchasers, according to the filing made Wednesday, while a dozen will remain in their jobs for about six weeks to assist with bankruptcy-related matters until August.

    As recently as 2011 Connexion had made Inc. Magazine’s list of the nation’s fastest-growing private companies.

    Connexion installs and manages telecom networks for residential developments nationwide. The company was devastated by the real-estate downturn, which halted residential development, and further undermined by multiple contract terminations by a major customer, DirecTV.

    Connexion was founded by former Cary Mayor Glen Lang, who ran the company as CEO. In 2007, on the eve of the recession, Connexion received a $475 million line of credit from Reedy Creek Investments, whose investors included billionaires Jim Goodnight and John Sall, the co-founders of software giant SAS.

    Wednesday’s filings were made under the corporate name of Capitol Broadband Management, as were previous filings in March announcing the layoff of more than 100 people.

    Connexion announced its first major layoff in May 2008, cutting 100 people just as the recession was getting underway.

    Murawski: 919-829-8932

    Read more here: http://www.newsobserver.com/2012/06/...#storylink=cpy

  2. #212
    johnb is offline Verified 3-Star Forum General
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    Default Re: Connexion, Capitol Broadband, and why Glen Lang Sucks

    http://www.bizjournals.com/triangle/...ithers-to.html

    Amanda Jones HoyleStaff Writer- Triangle Business JournalEmail
    CARY – Connexion Technologies spent more than $550 million in the past 10 years trying to develop its business plan by building fiber optic networks across the nation.

    On June 14, a U.S. bankrutpcy judge in Delaware approved the sale of almost all of the telecom’s assets for about $20 million, perhaps closing the final chapter to what many call the biggest private-company bankruptcy in the Triangle’s history. Connexion was started by former Cary Mayor Glen Lang.

    And just as the judge signed the order, the $453 million investment made in Connexion by Reedy Creek Investments was gone. Reedy Creek’s ...

  3. #213
    johnb is offline Verified 3-Star Forum General
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    Default Re: Connexion, Capitol Broadband, and why Glen Lang Sucks

    ...and that folks is the math....

    $550million - Glen Lang = $20 million.


    And with that, I am closing this thread. You can read it, re-read it, etc, as much as you want, but the truth is expressed in that equation I coined above. It is over. Be vigilant and never, never exposure your money or your career to persons as dishonest and deceitful as Glen Lang.

    AMF!

    Adios, my friends!
    Last edited by johnb; 07-01-2012 at 12:54 PM.

  4. #214
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    Default Re: Connexion, Capitol Broadband, and why Glen Lang Sucks

    Decided I'd reopen this thread for further discussion.
    Don Hyatt
    CP Site Admin ID

  5. #215
    johnb is offline Verified 3-Star Forum General
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    Default Re: Connexion, Capitol Broadband, and why Glen Lang Sucks

    Any former Connexion employees still tracking this thread please shoot me an email.

    jbarbara@nc.rr.com

    or a call...same number as before.

  6. #216
    johnb is offline Verified 3-Star Forum General
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    Default Re: Connexion, Capitol Broadband, and why Glen Lang Sucks

    From: Anonymous Connexion <anonymousconnexionemployee@gmail.com>
    To: jbarbara@nc.rr.com; dranii@newsobserver.com
    Cc:
    Subject: Chasing wrong dog


    What you really need to ask yourselves is, what did the executives at 3 banks see that made them want to grant approximately $55 million in loans in the 3rd and 4th quarters to a company that was about to become insolvent? Think Enron and Worldcom. They capitalize expenses, and they create profit for one company by creating a loss on another through varioous "management fees". It's a big shell game. Depending on what you're shown, you might think you are looking at a very profitable company. The auditors were fired last year because they wouldn't go along with the scheme anymore, and there has been no audit of 2011. The banks and Goodnight just want this to go away. Imagine if you had to explain to your boss that you ok'ed a loan for a company that started laying off people 2 months later. I'm sure you know that Glen had issues with the SEC before Connexion.

    FYI - Max Kipfer is Beyond's only employee (he's on linkedin).

  7. #217
    johnb is offline Verified 3-Star Forum General
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    Default Jim Goodnight wants this to go away

    It is hard to sound as if you are a prophet, a genius, a complex and thoughtful soul when you were dumb enough to fall victim like a conartist/hustler like Glen Lang.

    Especially when you handed said conartist $500 million dollars.

    In fact, you look kinda like a simple minded fool Jim.

    I know you're not though. You've bought and bullied the Cary City Council around now for almost two decades. You're no fool, you're also not a complex and thoughtful soul. Like Lang, you're a bully and a thug. He uses bluster and obscenities, you use your billions. Next time, remember, a man like you BUYS politicians, Lang forgot he was your asset and instead he robbed you of half a billion dollars. You bought Harold and he has remained submissive and subservient. That's your model.

    JMB

  8. #218
    johnb is offline Verified 3-Star Forum General
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    Default Re: Jim Goodnight wants this to go away

    Reflections on a Thursday afternoon:

    "I don't know how to run a company, all I know how to do is get money from rich people!" - Glenn Lang

    "I have attorneys too." - Glenn Lang


    Why is it Connexion hired a new CEO to take Glenn's place and the dude stays 3 weeks then quits? I know; he sees the Ponzi scheme for what it is, and flees the scene of the crime immediately to avoid becoming complicit. What was this dude's name and what did he learn?

    I have to say I've never seen so many people have full body shivers as when ex-Connexion employees describe Rich Ahmed or recount any of Glenn's disturbingly androgynous and extremely inappropriate statements of sexual intent/desire.

  9. #219
    johnb is offline Verified 3-Star Forum General
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    Default Re: Jim Goodnight wants this to go away

    FYI - The jorgelucasa youtube channel is still up and still funny.

    http://www.youtube.com/user/jorgelucasa

    Expect more updates folks.

  10. #220
    johnb is offline Verified 3-Star Forum General
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    Default Re: Jim Goodnight wants this to go away

    former Connexion employees, help me out here, what was Lester's first name? Y'all remember Lester, the former owner of the Gulf Shores ISP that screwed Clubber Lang over repetitively because, well, he was smarter and a better deal maker than Clubber Lang ever was. I remember Lester's company was DSSI and Lester went off and started a competitor and took most of the customer's of the firm he had just sold to Lang. Hilarious.....but what was that dude's first name???

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