Problems mount for Williams Communications. It's taken another hit on Wall Street. The New York Stock Exchange de-listed Williams Communications stock Thursday.
The stock hasn't been traded since it was suspended last week when the price was under a dollar for 30 days. A delisting from the Exchange puts Williams Communications into over-the-counter trading. That means less exposure. Williams Communications hopes to be ready for over-the-counter trading as soon as today.
We talked with Six in the Morning Business Editor David Healey. He says it believes it will be several years before Williams Communications can regain a listing on the New York Stock Exchange. But, Healey says that doesn't necessarily mean Williams is on a collision course with bankruptcy. "The lenders aren't looking at whether the stock is listed or whether it's traded over the counter. The lenders are looking specifically at the cash flow, at the contracts and their ability to pay their debt."
Williams Communications "can" appeal it's delisting.