Keep BT Local

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Thank you Milk Money Vermont & all of the folks who so quickly pledged $600,000!! We’re still humbled by such swift and strong financial and emotional community support.

UPDATE: As huge fans of local ownership in general and the co-operative business model in particular, we are, of course, very disappointed that Burlington Telecom, an important member of the business community, will now be owned by private interests with no real connection to .

While there are many lessons to be learned from the whole BT sale process (check out the thread in the Twittersphere and it’ll keep you busy for hours!), a key take-away for us was the speed and scale with which community support for Keep BT Local (KBTL) poured in via Milk Money Vermont.

Read: https://goo.gl/La8nLv

Thank you Alexander Friend for this excellent OpEd in VTDigger in support of Keeping Burlington Telecom local

From the OpEd: "We still have a chance to avoid privatizing our future. Only a co-op will keep our community’s interests first, be able to guarantee high speeds, low rates, and excellent, responsive customer service for decades into the future. Lawsuits can be resolved, and capital can be raised, but only the local option retains local control forever."

Alexander Friend: Burlington Telecom and local control - VTDigger Half of our elected city government has lost the vision of what Burlington can be.

All roads eventually lead to Comcast if we sell to equity investors and/or publicly traded companies because they'll do anything to preserve monopoly status.

That's just one of the many reasons that our bid to buy Burlington Telecom offers Burlington taxpayers and subscribers the best long-term deal. We preserve competition, not begin to erode it.

Comcast Buys Elections To Prevent Competition In Seattle, Fort Collins Comcast is once again devoting funds to an investment it considers necessary - influencing elections in Seattle and Fort Collins, Colorado. We've prepared a policy brief to look deeper into Comcast's investment into the elections, Comcast Spends Big on Local Elections: Would Lose Millions in Revenue...

We've submitted our updated bid to buy Burlington Telecom. It includes:

• An increase in our offer from $12M to $18M.
• Carried Interest or cash for City and Citibank for the ‘base’ purchase offer of $12M.
• More favorable terms for the Maine Fiber Company Loan Contract in the event of a default.
• Working Capital improvement.
• Revisions to the City and School contracts.
• Increased Investment in the Tech Economy.
• Price freezes on phone and internet for three years.

Check out the bid details on our website!

Keep BT Local submits Revised Bid Keep BT Local has submitted a revised bid to the Burlington City Council. The revised bid includes: Carried Interest or cash for City and Citibank for the ‘base’ purchase offer of $12M An increase in our offer from $12M to $18M Revisions to the City and School contracts More favorable terms for the…

The Keep BT Local Board has adopted the following membership shares plan as a way to strengthen and increase our bid to buy Burlington Telecom.

To start, cooperative shares will be priced at $500 with half ($250) granted to each Burlington account, with the remaining $250 payable at $5/month (or faster). Lifeline and other similar accounts will pay $1/mo and have the remaining $4/mo credited. When members leave they cannot take the $250 grant, but can take what they have paid in plus any accumulated capital credits. Assuming all 7000 subscribers stay, we expect this will bring in near $400,000 per year for at least the first four years. Assuming some growth and some members pay faster than required, this will likely bring in near $500,000 per year for four years and less after that.

This member capital being used to increase and strengthen our bid is money that members own and can get back (when they leave BT). And, with a $500 member share being half-credited to Burlington accounts, we are recognizing Burlington’s initial investment to build BT and that we require a larger membership buy-in for expansion outside Burlington.

There may be a vesting period and/or delayed repayment for accumulated capital. We recognize that this is only a working plan for bidding and projections; the ultimate decisions about membership requirements rests with the operating board.

— KBTL Board of Directors

Thanks to the Burlington Ward 2/3 NPA attendees tonight for passing this resolution last week - unanimously - in support of our bid to buy Burlington Telecom.

The KBTL Board released the following statement this morning in regards to the talks last week with Ting/Tucows. Please share and see you tomorrow night!

Keep BT Local Statement on Collaborative Discussions with Ting / Tucows KEEP BT LOCAL CO-OPERATIVE 5 Lawson Lane, Burlington, VT 05401 For Immediate Release: November 11, 2017 For more information: Contact David Lansky at (802) 865-0155 Keep BT Local Statement on Collaborative Discussions with Ting / Tucows BURLINGTON – While talks between Keep BT Local and Ting/Tucows…

The patronage refund is the mechanism by which a co-op guarantees that it's operating on a not-for-profit basis for its members. Kudos to City Market on their success (and new store!). https://www.investopedia.com/terms/p/patronagedividend.asp

Patronage Refund checks have been dropped off at the post office and you can expect to receive yours soon!

If you missed last night's excitement at City Hall ... never fret! CCTV Vermont was there and captured all of the night's drama.

11/06/2017 Burlington City Council The Burlington City Council meets on Mondays, often three times each month at 7pm. Their meetings air live on Channel 317 (Burlington Telecom) and repeat on ...

This chart says it all ... the long-term benefits of keeping Burlington Telecom local are clear and convincing. This chart compares our conservative growth projections vs BT's current projections. Monday night provides us with a tremendous opportunity to build on BT's success of recent years, and make it THE model telecom of the future.

Hey KBTL supporters! Thank you SO MUCH for showing up and speaking out at last night's City Council meeting! We'll be back at it again next week ... until then, click on this Vermont Business Magazine poll and vote for KBTL.

We'll be posting more updates here this week about what you can do to help us win the final vote on Nov. 6th.

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