After a Decade, Grosse Pointe Cable Sees Profits
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-.-.-.~-..--~--~-~~-~--~----..- After a decade, Grosse Pointe Cable sees profits By John Minnis AssISlantEdllor CUIrently Comcm,;t being paid off slightly more comphcat.ed 10 that Slsts of only four common shares troIs three of the shares, while After almost 10 yems In oper The fin,t technltal opemtor WIth the probpect of dividends Grosse Po1Ot.e Cable equIty con- The War Memorial legally can- Comcast has the fourth share at IOn, Grosse POinte Cable faceb was Teleprompter, which was to stockholders, RIckel saId the One half of the War MemOrial's the possibility of being able to later bought out by Wer-,tlng. cable !>ystem IS faCing the POSSI- Grosse Pointe Cable shares I!>spht beneficIally among pay diVIdends thiS yea! to ItS house'b Group W cable Group W billty of being able to consider the five CIties served by Grosse stockholders _ whIch Include cable's 25 percent lI1tele"t In holdmg down rates to subbCrl ownership Pomte Cable, based on the reve four of the Pomtes and Harpel Grosse Pomte Cable was then berb. Stockholders, for example, nue generated over the years Woods. acqulled by Comcast. may deude to forgo diVIdends m from each of the cltleb John M RIckel, chUirman, The lnter.company debt exchange for lower bubscnber Rickel IS the founder of Grosse president and treasul el of reached a hIgh of almost $24 rates Pomte Cable It was hiS Idea Grosse Pomte Cable, said last million, but the company stead Grosse POinte Cable is umque The orgaOlzatlOnal structure, week that the cable system Ily paId down the prmclpal As m that It ib 75 percent owned by Comcas125% ownershIp and financmg scheme hopes to payoff all Its Inter. of Dec 31, 1988, $562,285 re the commumty It serves. The were all his And as the attorney company debt by October, whIch mamed of the debt to Comcast, non profit Grosse Pomte.wlde for and then.presldent of the would mean possible dIVIdends and RIckel IS confident Comcast War Memollal ASSOCIatIOnowns War MemOrial, he proposed that based on eamlngs for Novembel will be paId off thiS yea! 37 5 percent of Grosbe Pomte the non profit commumty center and December. As of the end of 1988, Grosc;e Cable The cltleb of Grosse manage the cable system for the RIckel saId the company's Pomte Cable also had $4 3 mil. POinte Woods, Farms, CIty and five member cIties dlrectol's had agreed that no dlv hon 111 long term bond debt re Palk and Harper Woods benefi Concernlllg the economIc Idends would be patd until all mammg on the bookb The com. ctally own a combmed 37 5 per. structurmg and pelformance of mter.company debt was paid pany has untIl 1994 to payoff cent, and the remaming 25 per Grosse POinte Farms 6.4% hIS company, RIckel said, The inter-company debt IS fundb the bonds, whIch orlgmally to cent Ib held by the technical "Grosse Pomte Cable has been advanced by Grosse Pomte Ca. tailed $72 mIllion DlVldends operator, Comcast Grosse POinte Woods 11.6% Grosse POinte Park 7.5% ble's technical opelator, which IS can be patd whtle the bonds are Actually. the ownership IS See CABLE, page 2A Farms won't certify election; issue goes Young entrepreneurs to county officials By Dan Jarvis These young men from Siaff Writer Both Solak and Gerald John- Grosse Pointe Farms de. PrImary electIOn results re- son, a state poltce InvestIgator, cided to go beyond the tra- mam uncertam m the Aug. 8 saId the mvestlgation should be ditionallemonade stand Grosse Po1Ote Farms race for completed thIS week and a re- by offering reprinted base- mumclpal Judge as MIchigan port IS expected to be turned ball cards to Kercheval State Pohce wmd up a three. over to both the Wayne County travelers. week mvestlgatlon. prosecutor and county clerk Andy Shelden, 8, left, RIchard Solak, city clerk, saId Johnson saId earlter that if Cliff Magreta, 12, and Jeff the Farms Board of City Canvas- the local board of canvassers de. Shelden, 11. made a total sers declined to certtfy electIon chne to certIfy the election re- of about $2 for two day's results at the Aug. 22 meetmg su~ts, the Issue WIll go before the work, which was more Solak, in a press release, said county board of canvassers and than they plaueci. he recommended that the 00ard county clerk for a deciSIon. "We're not in Ulor the not certify election results be. The county board of canvas- money," Magreta aaid, cal1!e the police investigation sers have a deadlme of Wednes. "We do it b4tc:cruse it', fun," was under way. day, Aug 30 to certify or reject If you happen to be one "Although the canvass IS es- the vote count of their valued customers, sentially a mathematical audit, A county election offiCIal said don't expect any collector's certam vote totals remam under the county board was expected to items. investIgation by the MichIgan meet Wednesday, Aug. 30 and "When we run out, one Stale Police and therefore are was expected to ask for an exten- of us just rides up to Per- questionable. It would seem pru sIOn from a Wayne County CIr- ry's and picks up some dent that, 10 such case, as much CUIt Court Judge. In hIS press re. more:' he added. time as possIble be allowed to lease, Solak mdicated that if any resolve thIS Issue pnor to an au- actIOn other than certIficatIOn dit," he saId m the release. were to be recommended by the Solak saId the board agreed pohce InvestigatIve report, WIth hIS recommendatIOn and Wayne County CIrCUIt Court declmed to certify the electIOn would be requested to assume count JunsdictlOn of the electoral pro- cess, as imtlated by the county clerk As reported earher, allegations St. Clair Shores man of Illegally dIstrIbuted absentee p~~,~ A first! ballots by Irene Gracey, WIfe of And a second drowns off Lakeshore See PRIMARY, page 9A The Grosse Pomte News A 40-year-old St Clair Shores boat and searched the area of Dr. Clifford Benson was awarded first place for man drowned while sWlmm10g the lake between VernIer and commumty servIce m the ofT Lakeshore Boulevard In Moross roads The search was By Ronald J. Bernas tlve chmc 1989 Suburban Newspapers Grosse Pointe Shores sometIme called off, and the man's body Staff Wnter Tn 1946 he pelformed the first of Amenca Edltonal Cantest durlllg the mght Aug. 22-23. was later SIghted by a reSIdent, ,~: As an illustratIOn of how long operatIOn at the new hospital The paper was honored for The body of Gerald Douglas who sent hIS WIfe to notIfy pu- Dr. Chfford Benson has been a Born m Wlsconsm m 1902, ItS senes on Alcohol and Ad. Cawley, who hved In the 22200 hce. Lakepointe Oids practicing surgeon, there's thIS Benson received a bachelor of olescents whIch ran monthly block of Revere, was found about Grosse Pointe Shores Public building discussed ..3A story: A patIent whom Benson science degree from the Umver from October 1988 through 10 feet from shore off the 700 Safety ChIef Damel Healy re. was examining recently told hIm sity of WIsconsin and m 1929 Electronil:: meters May 1989 The series was block of Lakeshore by a resident minded residents that swIm. in the Woods 4A that he knew he was In good earned a doctor of medlcme de- written by staff wnters Mar. I at 12:30 pm. Aug 23 ming, fishing and loitering are hands, because, the man said, gree from Northwestern Umver- gJe Rems SmIth, Ronald J Pohce believe the man, who prohibited along Lakeshore He Library faces Benson operated on hIm 30 slty Bernas, John Minms, Nancy I was single and thought to be an saId anyone caught sWlmm1Og, expansion 6A years ago. "I'd have gotten It III 1928, Parmenter, Peggy O'Connor epileptic, went swimming after fishmg or 10ung1Og WIll be sent Crime. drURs Fvr more than 60 years, Ben 1 Lut the) had a ule that you AndrzeJczyk, Rob Fuh.on, I dark Aug. 22 and drowned accl. on theIr way. and reality 7A son has been practlcmg medlCllle couldn't get your M D unless Dan Jarvis and Pat Pahol. dently. At 7'50 a.m Aug. 23, the Healy said the St. ClaIr m the DetrOit area, and at 86 ..:. you dId yOU! one year mtern. Shores man's bIke was lymg on Sen. KeUy calls sky. 1 man's three-speed bicycle was he turns 87 at the end of Octo shIp," he saId The judges saId, "WIthout found along with hIS shoes near Its SIde, and because of the trees National Guard l0A ber - he stIll puts m three days He came to DetrOit because he sensatlOnahsm or maudhn the breakwall in the 700 block of and darkness, police did not Obituaries l1A a week at Bon Secours Hospital heard Harpel HospItal had are. decrymg, thIS extensive se. Lakeshore near the foot of Fon. know the man was by the lake as a consultant III the pIeopel a sldency m sUI'gery program and Biography of nes of articles kept the issue tana. Father Kern 12A some other graduates of North of adolescent alcohol use re- The Coast Guard responded by - John MmnlS western were workmg at Hal' lentlessly before readers for MADD, Woods per The first year his salary was months The senes was team up 13A room and board The second and highly responsible and bal. thll'd year" he receIved $25 a Cat burglar anced, not only descnbmg ta8k force ,..14A month III ddc!ltlOn to room and the problem, but also offer.