e assumption of $123 million of its debt [17]. Yipes filed Chapter 11 in March 2002. Its assets were acquired for a fraction of their original cost, and the new investors continued to operate them under the Yipes name. Cogent did not declare bankruptcy, but it restructured its debt in 2003; its largest creditor, Cisco, ended up with 18% ownership, but more than $200 million of Cogent's debts were forgiven [18]. It continued to operate, even trading publicly, but profits remained elusive. New investment in the ELEC sec- tor has been minimal. Endnotes The original HDSL required two copper pairs (four wires) to achieve DS1 speeds at these distances; newer HDSL2 equipment achieves this on a single pair. This is a guideline called carrier serving area (CSA), adopted by the RBOCs; it calls for fiber-optic feeders and remote terminals (digital loop carrier) to serve clusters of subscrib- ers more than 12 kilofeet from the wire center. The FCC uses this as the basis of its "forward-looking" cost formulas. A few ISPs had deployed limited amounts of DSL using dedicated copper loops obtained under "alarm circuit" or similar tariffs; once the LECs realized the value of DSL, they often moved to block such activities, and only CLECs could obtain the needed loops. Some isolated pockets of alarm-circuit DSL have reportedly persisted "under the radar" of ILECs. Tele.com, Sept. 6, 1999, www.teledotcom.com/article/TEL20000821S0078. Haley, C., "Vitts' Bankruptcy Begets Bargain," InternetNews.com, Aug. 1, 2001, bos- ton.internet.com/news/article.php/857741. Fosters Online, Jan. 21, 2001 (Dover, N.H., Foster's Daily Democrat). DLECs and ELECs: An Exercise in Oversupply "Digital Broadband Gets Pact from MAIA," Boston Globe, March 24, 2000.. "HarvardNet Reaches DSL Milestone With 200th Central Office," PR Newswire, June 27, 2000. "HarvardNet to Offer DSL Until Jan. 15," Boston Globe, Dec. 8, 2000. [10] Allegiance itself went bankrupt in 2003. It was acquired by XO Communications in 2004. Communications Today, Aug. 9, 2000, reporting on 