January 09, 2007
Tuesday PM

Cynthia Grant is to be commended for her 1-07 SitNews analysis of the potential airport financial statistics and in order to show what might be the result if the ridership estimates are adhered to. What we do not have access to is the basic financial information which would more accurately show just what has taken place.

Neither the assembly or the council, and perhaps even the public, seem to appreciate the fact that monopoly franchises should have a clear and legal obligation to furnish annual financial information to the granting government entity and to show that their franchise monopolies are not being abused and are properly run.

The Airporter and taxicab operations in the Ketchikan area, which have the comfort of being granted exclusive public service, simply complain of governmental restraints without furnishing regular and detailed financial statements as to their operating activities. We have no way of knowing whether a rate hike is justified without adequate financial information which should be the obligation of the franchised entity.

Thus an analysis on the basis of a projected but unverified customer usage and estimated accurate expenses and income is only worthwhile in terms of showing the potentials for profit and loss. What we really need are CPA audits which track the actual figures and provide us with a valid background for evaluating franchise fee requests and charges.

Peter Ellis
Ketchikan, AK

Received January 09, 2007 - Published January 09, 2006

About: "Ketchikan attorney and longtime resident of Ketchikan and Alaska with an interest in furthering the economic and cultural opportunities of all Alaskans and Southeastern Alaska in particular."

Related Viewpoint:

Airporter By Cynthia Grant - Ketchikan, AK

 

 

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