True the $10,000 donation from United Illuminating to Residents for a Better Bridgeport occurred before Hurricane Sandy hit.
And true an extra $10,000 wouldn’t allow a substantively different response by UI to this natural disaster.
But with 41,794 UI customers still out of power as of 11:00 a.m. today – November 3rd, 2012, – a week after the storm hit, the symbolism is – let’s just say – shocking!
UI is a Connecticut public utility company; it provides a public benefit so it is regulated by the State of Connecticut. It exists because we, the people, allow it to exist.
Here we are, a state in which 10 percent of the people are unemployed and nearly 1 in 5 are unemployed, underemployed or have given up looking for work. And UI, a company with some of the highest electric rates in the nation is siphoning off money to play politics in Bridgeport.
Next week we’ll investigate and learn whether the money they donated to undermine democracy in Bridgeport was “shareholder funds or “rate-payer funds, but quite frankly, the point is irrelevant.
The fact is we have a Connecticut Public utility company – taking Connecticut resident’s hard-earned money – to fund an effort to take away one of the most important American rights we have – the right of self-governance.
It’s time that our elected officials tell us what they are going to do about this outrage!
Click here to see the latest UI Outage map
On Oct. 29, 2012, UIL Holdings Corporation (NYSE: UIL), the company that owns UI, announced that its Board of Directors declared a quarterly dividend of $0.432 per share on its Common Stock at today’s Board meeting. This dividend is payable January 2, 2013 to shareowners of record at the close of business on December 19, 2012.
Oh, and on a related note, on October 29, 2012, as the storm closed in, Thelma Albright and William Murdy, both UI Directors, cashed in stock for $51,571 and $27,697 respectfully,
Finally, UI’s Board of Directors includes the following people. If you happen to see one, ask them…. So, what about that $10,000 donation to Residents for a Better Bridgeport? Is undermining democracy a position supported by the entire board?
UI Board of Directors
Thelma R. Albright
Former President, Carter Products Division, Carter Wallace, Inc.
Arnold L. Chase
Member of the Board of Directors and President, Gemini Networks, Inc.; Executive Vice President, Chase Enterprises
Chairperson of the Board of Directors and Chief Executive Officer, Joseph Cohn & Son, Inc.
Suedeen G. Kelly
Partner, Patton Boggs L.L.P.
John L. Lahey
Non-Executive Chair, UIL Holdings Corporation; President, Quinnipiac University
Daniel J. Miglio
Former Chairman, President and Chief Executive Officer of SNET Corporation and Southern New England Telecommunications
William F. Murdy
Chairman of the Board of Directors and Chief Executive Officer, Comfort Systems USA
Donald R. Shassian
Executive Vice President and Chief Financial Officer, Frontier Communications Corporation
James P. Torgerson
President and Chief Executive Officer, UIL Holdings Corporation; Chief Executive Officer, The United Illuminating Company