MetroFi Needs $9m for Portland Network
30.11.1999 / 802.11b Networking News
The full story isn't yet available, but Portland Business Journal reports on MetroFi's cash shortfall in Portland: We already knew that the network wasn't being built out further at the moment, only maintained, and that MetroFi was looking for more cash from either investors or the city (for services). But Aliza Earnshaw of the Portland Business Journal reports that the amount in question is $9m, and that the city remains uninterested in signing up for more. Can you blame them? Would you want to face taxpayers in this climate, with the economy on the verge of recession, with almost no on-their-way-to-success stories of municipal Wi-Fi in larger cities anywhere in the U.S., and say, despite a contract we signed which committed us to nothing, a partially complete network, and a startup company that can't proceed without additional dollars, that's had contracts cancelled all over the country for similar reasons, we're going to commit to pay out millions for services that can't yet be offered with the current state of the network? Unlikely....Copyright ©2008 Glenn Fleishman. All rights reserved. Please notify us if you find this content anywhere but at wifinetnews.com or wimaxnetnews.com. Reproduction of full articles from RSS feeds is prohibited without permission.]]>
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