4 ms·
> So Google's not getting $39m worth of stuff for $1, they're getting $39m worth of assets plus $Nm worth of liabilities (where n > 39) for $1. Pete Ashdown of
by fjarlq 14y ago
> So Google's not getting $39m worth of stuff for $1, they're getting $39m worth of assets plus $Nm worth of liabilities (where n > 39) for $1.
Pete Ashdown of Xmission says "Google will not assume any of the debt, the Provo city taxpayer will continue paying that."
http://transmission.xmission.com/2013/04/18/the-1-fiber-optic-network http://transmission.xmission.com/2013/04/18/the-1-fiber-opti...
Who is right? I haven't looked into it.
- YeahKIA 14y agoYou can't blame google if the government officials were stupid enough to not extract the right value out if their assets
- lmm 14y agoWatch me. I suspect there are many people here who had the opportunity to rip a client off but chose to instead do the right thing.
- hristov 14y agoI think the issue is that the city paid a bunch of money to build the system but still cannot run it for a profit. So the city has to keep paying ongoing losses for the system in order to run it. They can shut it down of course, but that would be a big black eye for the politicians. So they gave it away to Google, who promised to run it and provide free internet to people for a very low setup fee.