Tuesday, November 10, 2009
PROMISES PROMISES
If a purchase proposal presented to the Southeastern Public Service Authority by a New York-based company this week is accepted we continue to get free access to dumping. So says ReEnergy HOLDINGS LLC that upped the ante and answered hanging questions. The company was one of two that submitted bids of 240 million to buy SPSA’s assets. Wheelabrator Technologies Inc., a New Hampshire-based company also has an offer of $150 million to purchase SPSA’s incinerator in Portsmouth. The Authority’s board of directors members put a final decision on hold in order to consider ReEnergy’s offer. The company would pay $240 million for SPSA’s assets and has promised tens of millions of dollars in improvements to the Authority’s infrastructure. Does that mean it will still be free dumping for citizens of Suffolk?
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3 comments:
In the UK the water system was privatized years ago. Over time lines would leak or break with very little repair and mainenance performed. Consequently the reserviors emptied to dangerous levels before the government stepped in.
Selling SPSA to a private concern is a step in the right direction. However they must be held to a unified standard of performance. Who(politicos or experienced businessmen)will be participating in overseeing their performance is a concern to me.
All bids for SPSA have been refused by SPSA. Does it mean they expect more or is this final? And will this Board of businessmen be better than the last one?
SPSA wisely took a step toward financial common sense by selling part of itself to Portsmouth for 150 million. Both parties are happy with the deal but SPSA continues to hold out and will not sell the rest to anyone. At least not until buyersup the ante.
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