These questions are designed to assist you in evaluating whether or not it makes sense to consider a sale of your independent telephone company.
Yes No	Is potential competition to your landline business (either by other LECs or wireless operators) a source of significant concern to you?
Yes No	Do you feel the value of your company will be adversely impacted in the future?
Yes No	Are family succession issues a source of concern for you and your family?
Yes No	Is it difficult to fund the capital needs that are necessary to run a local exchange carrier in today’s environment?
Yes No	Are the additional administrative requirements (relative to the past) on your company a heavy burden?
Yes No	Are you concerned about the difficulty of employing individuals with the skills necessary to succeed in today’s telecom environment?
Yes No	Do you have an important use of the money that could be realized in a sales transaction?
Yes No	Is this as good a time as any, from a tax point of view, to sell your interest?
Yes No	Do you worry about your business a lot more than you did in the past?
If you have answered yes to a majority of these questions, it may be time to consider selling your independent telephone company.

These questions are designed to assist you in evaluating whether or not it makes sense to consider a sale of your minority cellular interest.
Yes No	Do you have an important use of the money that could be realized in a sales transaction?
Yes No	Is this as good a time as any, from a tax point of view, to sell your interest?
Yes No	Is being a minority partner and not having much of a say in partnership issues very frustrating to you?
Yes No	Do you lack confidence in the management of your cellular partnership?
Yes No	Do you have concerns about the long-range plans of the managing partner?
Yes No	Are you concerned that other wireless businesses in your partnership’s service territory will erode the value of your interest?
Yes No	Do you feel the value of your interest will be adversely impacted in the future?
Yes No	Have you been dissatisfied by the level of distributions coming from the partnership?
Yes No	Is the annual tax liability (on your share of the partnership’s profits) a significant burden on your company?
Yes No	Do you believe your interest will fail to act as a hedge against your landline business?
If you have answered yes to a majority of these questions, it may be time to consider selling your minority cellular interest.

These questions are designed to assist you in evaluating whether or not it makes sense to consider refinancing/recapitalizing your company
Yes No	Are the interest rates on your loans higher than current market conditions?
Yes No	Is your current loan structure and capitalization inadequate to fund your business plan?
Yes No	Do you feel that your lender has too much control over the management of your business?
Yes No	Are your loan covenants outdated and too restrictive for new business ventures?
Yes No	Is the perceived low cost of your debt outweighed by costly project and bid requirements from your lender?
Yes No	Does your current debt service schedule impede your ability to generate adequate free cash flow?
Yes No	Do you lack the capital to execute your telecommunications strategy?
Yes No	Do your stockholders believe your company is generating less than adequate returns?
Yes No	Are you doubtful that your capital providers really understand the needs of your telecommunication businesses?
If you have answered yes to a majority of these questions, it may be time to consider refinancing/recapitalizing your company.