Opposed to incorporation

Section: 
Letter

Incorporation is a bad idea. There is no logic to support it. Incorporating will not make Bruce Telecom more competitive. It will not generate increased revenue or increased dividends for the municipality.

You incorporate to transfer liability from the owners to the company, which then becomes a legal entity in its own right. But council,board members and management all have ample liability insurance. So what is the real reason for wanting to incorporate? Who is pushing for it and why?

I suspect that council wants to rid itself of responsibility for the company so if it runs into financial difficulty or even goes bankrupt they can say our hands are clean and point the finger at the new board and management.

If council truly has the best interests of taxpayers at heart, they should move to sell Bruce Telecom while it still has some decent value and not waste time and money on incorporation that benefits only the lawyers.Councillors should reread the news release issued on Aug. 14,2014, that clearly outlined the reasons for selling at that time.

Those reasons are even more cogent today,particularly in light of continuing subscriber loss, declining revenue and smaller dividends to the municipality.Every time Bruce Telecom loses a customer, it lessens the value of the company. How many have been lost already to Hurontel?

In 2008,the town of Kenora sold its telephone company to Bell Aliant for $27 million with 2,000 fewer subscribers than Bruce Telecom. They enjoy risk-free modern service and have a multi-million dollar investment fund that they use to fund local projects. Kincardine should do the same.

I urge my fellow taxpayers to contact their councillors and tell them to vote against this ill- advised incorporation proposal.

Richard Martin,Inverhuron

Inaugural Bruce Telecom board chair and nine-year board member