SB ok's red light system, company officials deny company is in trouble
The city council, by a tight 4-3 vote, approved becoming the county's #1 user of red light camer ticketing systems.
Detractors say the systems are a ploy to pick up revenues in the cash-strapped city. Defenders argue that the cameras reduce accidents.
The company, Rhode Island-based Nestor Traffic Systems Inc., dispatched an official to the meeting to assure council members they were financially viable.
Based on my reading of the SEC report, the company's future is clearly in question. City Manager Fred Wilson told the council that if Nestor can't fulfill its contract, the city will have little difficulty getting another company to take its place.
For the benefit of readers, you can click here for the full SEC report, and learn a little more about the company whose cameras can now snap photos for tickets at 11 intersections in the city.
Comments
Now this is good stuff here. To think I was up in arms when the city agreed to pay Ezzat Soliman $80,000 to go away and never come back only to see him cash his check and well, come back. Now this is on a totally different level though. You mean to tell me the city council and our watch dog city attorney are going to just sit by and watch Nestor shove cash into every pocket in their suites. Well to quote Biz Markie "how can I be down champ?"
Back in January 2006 then Assistant Police Chief Mike Bildt predicted "that the red-light camera money could dwindle rapidly." Who knew Chief Bildt was a prophet or is it profit? No honestly where do I sign up for Bildt's big give? Why is the police Chief who I assume is still cashing a check issued by the city acting as a cash funnel for Nestor. A company which essentially hasn't turned a profit since when, lets see at least 2001? Are there no requirements that city contractors at least put forth an effort to make their business work? Is it to much to ask that you at least make it look like your giving it the old college try? Maybe I'm naive or just not up on the way business is conducted these days. I'm still trying to figure out how the new math was different from the old, so I am prone to boughts of confusion. You know guys these are federal dollars which despite the fact that you've already laundered them through Operation Phoenix ultimately belong to every tax paying American citizen so have a legitimate right to ask these questions and expect answers.
Posted by: Ty | April 28, 2008 8:52 AM