Friday, October 3, 2008

More Trouble for Zhone Tech

By Chris Thompson
Fri, Oct 3, 2008 at 6:47 AM

Zhone Technologies, the $500 million broadband company that was going to be so successful that the city of Oakland gave it a massive piece of land in return for stock options, is in trouble again. Just two months ago, the company was being threatened with getting delisted from the Nasdaq. Now, Zhone officials have had to lower its estimate of third-quarter revenue by more than ten percent. Previously, company officials had estimated revenue at $37 million; the new figure is closer to $32 million. Hey, didn't then-city manager Robert Bobb negotiate this deal? Not looking so great now, is it?

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