Word: ownership
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Dates: during 1980-1989
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Prospects for a quiet summer in Cambridge are not good. War is brewing. Lines are drawn. Initial thrusts have been met, parried, and returned. The early private skirmishes in the argument over private vs. municipal ownership of a cable TV franchise in Cambridge threaten to erupt into a full-scale battle by November, at which time the city's voters will be asked to register their opinion on the matter in a public referendum...
...next few years almost 80 percent of the currently licensed cable franchises across the country will face a license renewal process. The cable television industry, represented in these parts by the New England Cable Television Association (NECTA), is understandably very much against municipalities opting for public rather than private ownership. On the national level, Senator Barry Gold-water (R-Arizona) is also against it. He is sponsoring a Senate Bill (S.66) which not only severely restricts ownership options for cities and towns, but also mandates nearly automatic renewal of existing cable franchise licenses. This bill also limits, and in many...
...industry itself has further arguments against public ownership. For one, cable construction and operation is extremely capital intensive and poses a substantial initial investment on the part of the city as well as an element of risk in such a venture. The industry points out that cities have no business becoming involved in a commercial activity that private operators are willing and able to perform. Along similar lines industry figures question the ability of cities and towns to operate such a complex system and to cope with planning, construction, operation, promotion, billing and service aspects. Most importantly, though, the industry...
...most investors, a tax shelter is about as tangible as an electronic banking transaction: a piece of paper documenting their part ownership of a shopping mall in the next state or an oil-drilling site half a continent away. But for some 30 investors with a special sense of romance-and risk-the payoff from an unusual Florida operation was the kind they could touch, even fondle: silver ingots the size of paving blocks, gold chains, gold bars, fistfuls of gold and silver coins, a coral-encrusted anchor, a bronze cannon, an emerald ring-all lost at sea 361 years...
...being closed down when they were bought out. Among the largest in recent years have been Rath Packing Co. in Waterloo, Iowa, with sales of $435 million, and bearing maker Hyatt Clark Industries in New Jersey, which had sales of $66 million in its first ten months under employee ownership. Both companies lost money last year. But Corey Rosen, executive director of the National Center for Employee Ownership in Arlington, Va., says that only four employee-bought companies have failed since the early 1970s, when the wave of buyouts began...