UI sells powerplant and Iowans pay

So, the University of Iowa leases the power plant, which has an operating philosophy and tradition of sustainable production, to an unknown group and gets a temporary windfall of twenty eight silver plated coins to support other parts of the university. The unknown group, without a long record of operating an integrated utility plant, first cuts the wages and benefits of all the employees of the plant, reduces maintenance, foregoes capital improvement, foregoes state of the art best practices and does whatever it can to maintain its quarterly profits. They don't maintain the plant or develop a sustainable 50 year operating philosophy. In a few years when they have extracted all they can from the operation, taken the depreciation write downs, and totally demoralized the once loyal employees, they walk away. The university has no alternative/competitive source of heating and cooling. The taxpayers are again asked for real money to rebuild the operation. This is what happens when public utilities are privatized. The taxpayers are left holding the bag with the tax bill inside.

Barbara Beaumont

Kurt Hamann

North Liberty