Matt Cropp 🌲🌲

One pager summary for a proposed one-shot #InvestmentClub to aggregate funds and make a loan to the #KeepBTLocal #coop through which we're attempting to divert a utility #privatization into #mutualization in #btv!

Welcome feedback, thoughts, and potential members: https://docs.google.com/document/d/1rCUWQlLQI1Nsu71PRPCWeKtZ3RDxB2EsIjLrgKcSfnk/edit?usp=sharing

#coops #coop #investing #platformcoop #isp #telecom

Proposed BT Investment Club Summary

Proposed BT Investment Club Summary Context & Purpose Due to a legal settlement, the City of Burlington must privatize Burlington Telecom by the end of the year, and is currently considering four bids, including one from the Keep BT Local (KBTL) co-op, which aims to maintain local control by tran...

Sep 20, 2017 at 3:30amWeb
Show threadAntanicusSep 20, 2017
@mattcropp 14% interest rate? O.o
Show threadMatt Cropp 🌲🌲Sep 20, 2017
@Antanicus I know, right. The alternative was to give them equity or find cheaper money - this is an attempt to do the latter.
Show threadAntanicusSep 20, 2017
@mattcropp I wonder who agreed to that loan in the first place... That's usury!
Show threadMatt Cropp 🌲🌲Sep 20, 2017
@Antanicus The board for whom it was the only viable source of capital being offered that preserved our co-op ownership structure.