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7/9/2018 2:50:40 PM
 
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Section 23: OPA Elections Subject: Northstar Software Decision Msg# 1019595
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Ev,
The numbers for both the Northstar and steady-state costs were reviewed by both John Viola/the B&F committee and by Steve Phillips, were amended, and republished. Three assumptions were changed, resulting in a 9% increase in the planned Northstar cost. No changes have been made to the Apr 28 estimates of the steady-state costs. I am not aware what numbers you are referring to that were "simply wrong". Please feel free to email me (lsmith@oceanpines.org) if you would like to do so. Len |
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For reference, the above message is a reply to a message where: Peggy: to the best of my knowledge our agreement with Mediacom is not in perpetuity. The sticking point is to be found in OP agreeing to the buyout of infrastructure at fair market value should they be replaced. Mr. Smith would have you believe this was a necessary precondition to having service and SOP in the Cable industry at the time. I submit to you, based on hands-on experience during this time period with Cable providers, that alternatives were indeed available on how to deal with the issue of recapture of infrastructure expenditures. I was an elected Councilman in our Municipality and Chair of the Finance Committee and along with our outside Counsel was intimately involved with the Cable Company negotiations. Additionally, during this same time period I was employed by one of the largest lenders to the Cable Industry and had close colleagues in that department and therefore knew and understood what deals were possible given the appropriate negotiating stance. To believe the choice was binary is simply not correct. Suffice it to say OP was simply out negotiated in this transaction. You're assertation that a better deal could have been negotiated has substantial merit. With respect to the Northstar software acquisition, please remember that the summary numbers submitted to this Forum by Mr. Smith in support of the Northstar proposal were devoid of any details (cost assumptions) and the few numbers presented justifying their selection versus the steady-state were simply wrong. As such, I share your concerns regarding this large acquisition, hope the decision is delayed until a new Board is elected and trust the candidates elected will honor their pledges to seek a valid comparison of the alternatives. |
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