Thursday, June 22, 2017

What do we do with all that money ?

Now that the cable deal is settled we are looking at a big bonus called a gateway, or doorway fee. That's a few million dollars that Atlantic Broadband is going to be paying out to CV for signing the deal. So what happens to that money ? George Loewenstein, the former president of UCO,  gave the doorway fee we received from Comcast when that deal was signed to the residents in the form of reduced condo fees. A neat trick that avoided paying tax on it. 
David Israel has already indicated he is not interested in handing it over. he decided he would rather throw it into the UCO slush fund to spend on whatever he or his "team" see fit.Of course , he claims that it's all for the ultimate benefit of the village, but in looking at the waste and questionable accounting practice and the handing over of millions of dollars to WPRF, we have to wonder if that's the best way to go.
What do you think ?

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