Typical Democrat tatics
So the city of Fort Wayne pays I&M to manage a vital city infrastructure that they are incapable of managing. This private company in good faith invests a lot of money in this infrastructure, and improves it immensely for the citizens of Fort Wayne. So after bailing out the city of Fort Wayne, the typical Democrat tactic is now to take over this free enterprise that a hard working company invested in, built up, and maintained in good faith for many years. So the story is very common. Private business builds jobs, invests money in the community, and Democratic government tries to take it over. Too bad Democrats do not appreciate hard working individuals. When will Democrats realize that Government can’t properly manage any business because they have zero incentive to succeed?
Article published Oct 15, 2009 in the Fort Wayne Journal Gazette from Staff Reporters
I&M says it’s taking legal action against City of Fort Wayne
The city and Indiana-Michigan Power Co.’s negotiations have reached a new level of strife. I&M announced today it will seek legal action against the city because, “the (c)ity has stated that it may attempt to unilaterally terminate the (City Light) Lease and take possession of I&M’s electrical system sometime after October 19, 2009.” I&M said it has asked Allen Superior Court to prevent the city from attempting to take over electrical service. The two sides have been in mediation discussions for the past several weeks trying to hammer out an agreement to end or extend the 35-year lease.
