LETTER: Potential sale of United Illuminating is symbol of economic mistake
To the Editor:
I'm having a difficult time understanding why the media is so focused on the possibility that terrorists may gun down or bomb some our people, buildings or schools, or that we find it necessary to send our young men to fight in the Middle East again, when we are losing the big economic war here at home.
The really big news is, as announced by headlines in the local daily newspapers: "U.I. flips the switch” and “Spanish energy giant buys U.I., Southern CT gas for $3 billion.”
American business is selling off this country's tax-paying assets and jobs to earn larger profits for themselves.
They are bankrupting our nation, while the officials paid to protect and defend our country can't seem to give their approvals to such business transactions fast enough.
United Illuminating and Southern Connecticut Gas serve about 325,000 customers in Connecticut (UI is the main electric provider in Shelton).
By acquiring UI, the Spanish company Iberdrola will control the accounts of 3.1 million electrical and natural gas customers in the Northeastern states of Connecticut, Maine, Massachusetts and New York.
Will we ever know why the Connecticut Public Utilities Regulatory Authority approves of the sell-off of our major taxpayers and jobs, and then taxes are raised on the low-paid, working middle class to support our government?
The sell-off of U.S. industries and utilities is creating a situation of national suicide.
Dick De Witt