The sale of TVC, saving the city
Concerning the recent decision by the City of Groton to sell Thames Valley Communications: As a business owner I must applaud the city for having made the difficult decision to sell TVC.
Having business experience I can envision there comes a time to cut your losses, lick your wounds, and move on. That time had come for the city and TVC.
Without a sale, what TVC assets there were would become liabilities. There was much citizen concern of the transparency of the city regarding TVC's financial. I believe the city was as open with the financials as was responsible to disclose.
Currently the competition is able to offer more service at a lower cost.
Another reason to sell now is without major capital investment TVC will be losing ground to it's competitors each day. The city has proven it does not have the resources for such an investment.
With the monthly losses TVC is incurring, and the need for such capital investment, the city is fortunate to find a buyer for however low the sale price.
Is it a bitter pill to swallow for all? Yes! But it was time to make it happen.
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