Shumlin Concerned About Burlington Telecom’s Financial Troubles
12/13/10 6:06AM By John Dillon
(Host) A new audit says Burlington Telecom is losing money and may not survive as a viable business.
The audit says the telecommunications provider owes $17 million to Burlington, and another $33 million to its main lender.
Governor-elect Peter Shumlin says he's concerned about the financial and legal troubles at Burlington Telecom.
(Shumlin) This is a challenge not only for Burlington; it's a challenge for all of us. Burlington is our largest city, the bond rating has been downgraded and I would anticipate that's the beginning of a trend not the end of a trend."
(Host) Burlington Mayor Bob Kiss says revenues are up at BT and that the company is in discussion with several potential financial backers.