Financially
troubled Burlington Telecom hopes to find new investors in order to remain in
business. But
first the telecommunications network has to figure out how to return equipment
– including 186 miles of fiber optic cable – to its lenders.
Burlington
Telecom officials will appear today before the Vermont Public Service Board to
answer questions about how the municipal utility will go forward now that its
major creditor says it plans to repossess its equipment.
The mayor of Vermont’s largest city says he thinks its municipal phone,
Internet and cable TV service will get past its current troubles and be a key
asset to the city in the future.
Burlington Mayor Bob Kiss discusses the future of Burlington Telecom, the city-owned utility that broke its equipment lease this month due to inability to make payments.
Burlington Telecom has failed in its months-long attempt to renegotiate a
lease that provides the equipment that is the cornerstone of the
utility’s
infrastructure. But Mayor Bob Kiss says the city is exploring a purchase
of the equipment outright and says the terms of that purchase could be
more favorable than the previous lease.
Burlington
Telecom is a publicly-owned cable, Internet and phone utility that’s
significantly in debt, and some city residents are worried they’re going to
wind up paying. But
Mayor Bob Kiss says he’s confident the company can be saved.
Burlington Mayor Bob Kiss talks with Jane Lindholm about instant runoff voting, the financial managment of Burlington Telecom and the plan to redevelop the northern end of Waterfront Park.
Burlington Mayor Bob Kiss discusses the repeal of Instant Runoff voting, the financial status of Burlington Telecom, and takes your questions. Also, a new biography of Dartmouth alumnus Theodor Geisel, better known as Dr. Seuss.
Two top Burlington officials say the city is planning to notify a
Burlington Telecom lender that the city won’t be making a $380,000 interest
payment on its loan.