The editorial cited what it called "a $552 million socialist-style experiment in government-owned Internet, cable and phone services orchestrated by EPB — Chattanooga’s government-owned electric monopoly," otherwise known as the "Gig to Nowhere" project. While the project cost taxpayers well over a half-billion dollars, the paper said area residents have seen "little improvement in the quality of EPB’s electric service." "Worse," the editors added, "despite being heavily subsidized, EPB’s government-owned Internet, cable and telephone outfit that competes head-to-head against private companies like AT&T and Comcast is barely staying afloat, often relying on loans from electric service reserve funds to afford its business expenses." The end result of the project, the Free Press said, was higher debt and the very real possibility of increased electrical costs.
Posted on: Wed, 31 Jul 2013 20:13:34 +0000
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