Those, such as Ken Poulton (Daily News letters, Wednesday), who oppose the sale of Cable Co-op to AT&T are afflicted with a serious case of wishful thinking. If there is indeed a bank that will lend us $39 million, why hasn't it come forward? If there is a cable company that will pay more than $70 million to buy us, why haven't we heard from them?
They could have come forward anytime between Sept. 6 (when the deal was proposed) and Nov. 6, and made such an offer to buy us. So much for the opponent's wishful belief that we are worth $140 million.
The facts are that we have never consistently made a profit, that our debts are not refinancable, and that competition is poised to drive us into the ground. Now is the time to sell, when the market is high, and we can put in place a local origination/public access center that will meet the aspirations of our community for a unique communication future.
I urge the member/subscribers to vote "yes" on the sale.
Palo Alto Cable Co-op Board Member