Agenda Packets - 1996/09/23 - Laserfiche WebLink

Home Browse Search

MEMORANDUM • August 9, 1996 • Page 16 ordinance negotiations, regulatory matters, and various functions relating to the strategic planning of corporate growth within the region. In summary, the Continental organization appears to be staffed from top to bottom with technical expertise in the cable industry. US West has replied to the Franchise Authorities' Request for Additional Information by stating that it will comply with all FCC technical standards and will comply with all current franchise requirements regarding the technology of the cable system. Based on our review of information provided, it would appear that the Authorities could not reasonably withhold approval of the transfer on the basis of the technical ability of Continental, its management and its principals, which will becomemanagement p p the and principals of US West cable operations in Minnesota. 7. FINANCIAL STABILITY. The financial stability factor relates to whether US West has the financial resources available or committed to not only acquire the system, but also whether its financial plan, as presented, is reasonable and economically viable. In the interest of preserving financial resources, the Authority has chosen not to engage a separate financial consultant to undertake a comprehensive review of this factor. Frankly, if US West does not qualify financially, one would have to wonder who would. However, with the elusive corporate structure of the transaction and with apparent dumping of Continental into a yet unincorporated "to be" shell corporation, access to US West's financial stability appeared tenuous at best.