Login  /  Register  | 3 premium articles left before you must register.

Cable deal rip-off for City of Groton

George A. Palmer Groton

Publication: The Day

Published 11/29/2012 12:00 AM
Updated 11/28/2012 05:25 PM

I oppose the proposed sweetheart sale of Thames Valley Communications for $150,000, which is about 5 percent of the city's investment in the company. How fitting that details were completed and announced in time for Black Friday together with other give-away promotions. Mayor Galbraith advised me that no public disclosure was made during the 18-month study because the process of seeking a buyer is confidential.

So much for open government!

Most large privately operated companies are more open than this. Such secrecy is unacceptable for a publicly owned utility.

The proposed sale is reported to be in the best interest of the customers and the citizens of Groton, but the taxpayers who funded the investment are ignored. Our best interest is to maximize net income from the sale. If shutting down the company and selling the equipment and materials for their intrinsic value achieves this goal, then this should be done.

Regardless, overall proceedings should be conducted in public view.

I ask Groton city taxpayers to reject this proposal and request the city officials to restart the divestiture process to maximize recovery of capital from our investment.

Town News

Visit Zip06
Submit Your:  Submit Your News Submit Your Photos Submit Your Events
Most Recent Poll
The 'grinding' dance style has sparked controversy at East Lyme High School. Should this form of dancing be banned at school dances?
Yes, it's highly suggestive and inappropriate at a school function.
60%
No, teens will be teens. A ban would just encourage them more.
35%
What's grinding? The Charleston is the last dance I learned.
5%
Number of votes: 1118

No current items found

No current items found

The Day on Facebook

In the past two weeks our Facebook fans have won tickets to the CT Tigers, Newport Winefest and Mystic Seaport. Become a fan of The Day on Facebook for access to these contests, breaking news, TheDay.com's best features and more!