The recent downfall of the Thames Valley Communications (TVC), owned by Groton Utilities (GU), which in turn is owned by City of Groton taxpayers, can best be described as a managerial disaster. Selling the business valued at $21 million, for the small and ridiculous price of $550 thousand is completely absurd. Then, to compound the issue, the present administrators and managers of the City of Groton and Groton Utilities left the ratepayers of GU, both inside and outside the city's boundaries, with the responsibility of paying back over $28 million plus in debt payments. Now isn't that a slap in the face to city taxpayers and GU ratepayers?
Oh, by the way, most of the financial decisions concerning the TVC, during its demise, were made during 59 closed-door meetings. Makes you wonder doesn't it?
The customers (past and present) of TVC and GU, as well as the taxpayers of the City of Groton, deserve to have an independent investigation conducted to determine the "Who, What, When, Why and How" this disaster happened and let the cards fall where they may. Unfortunately, the present administration has refused to take such action. You have to ask yourself why?