Posted on 27 July 2012.
SOURCE: MI-Connection financial reports, 2011-12. Click to enlarge.
By DAVID BORAKS
Officials at MI-Connection Communications System sounded an upbeat note Thursday as they reported the company’s best annual financial results since its 2007 founding. In an interview after a board meeting at Davidson Town Hall, the system’s CEO also reported another milestone: At year’s end, the network owned by Mooresville and Davidson made its first-ever payment back to the towns.
That payment was small – only $277,000 – but it was symbolic, according to chief executive David Auger.
“We made our first payment in June to the towns, for debt,” Mr. Auger told DavidsonNews.net. “It’s the first time the company’s ever contributed from revenues … to pay down debt. So that’s great news, and we’ll do substantially more than that in 2013.” Read the full story
Posted in Business, Cable TV, Cornelius, Mooresville, Town Hall
Posted on 24 April 2012.
Posted in Cable TV, Politics, Town Hall
Posted on 23 April 2012.
Posted in Cable TV, Letter to the Editor
Posted on 16 March 2012.
By DAVID BORAKS
Chief executive David Auger says there’s a paradox in all the numbers coming out this week about the MI-Connection Communications System. The company owned by Davidson and Mooresville is in a growth spurt – adding customers and expanding revenues. But it’s restating this year’s budget and revenues downward and now needs another $1.1 million from the towns by June 30 to meet a shortfall.
“We’re seeing unprecedented growth, more than anything we’ve seen since MI-Connection came about,” Mr. Auger said Thursday. But, with the company now asking for more money, he said, “there’s a paradox.”
He offered several major reasons for the shortfall: Read the full story
Posted in Business, Cable TV, Cornelius, Mooresville