Page 10 — THE LACONIA DAILY SUN, Wednesday, February 6, 2013
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Huot’s bill to keep boat fees steady gets warm reception By Michael Kitch THE LACONIA DAILY SUN
CONCORD — A bill that would repeal a statute halving boat registration fees scheduled to take effect on July 1, 2015, sponsored by Rep. David Huot (D-Laconia), was heard by the House Transportation Committee yesterday. Huot, who with Earl Sweeney, assistant commissioner of the New Hampshire Department of Safety and a representative of the New Hampshire Marine Trades Association spoke in support of the bill, said that the proposal received a favorable reception from the committee. The registration fees are deposited in the navigation fund, which together with an annual matching grant from the United States Coast Guard are the major sources of funding for the Marine Patrol. Huot said that he filed the bill at the request of the Department of Safety, which feared that the prospective reduction in revenue from the fees would cripple the
Marine Patrol. The registration fees, which had not been raised since they were introduced, were doubled in 2009 to when the growth in number of registered vessels stalled, sapping the revenue stream. Meanwhile, in the 2011-2012 budget, the balance in the navigation fund, some $1-million was stripped and transferred to the general fund to help balance the state budget. Huot said that a share of funds were designated for repairs to the facility at Glendale, which is settling into Lake Winnipesaukee. The department was not only compelled to defer work at Glendale, but also to reduce the personnel deployed on the lakes last summer from 60 to 39. Moreover, without sufficient matching funds, the grant from the Coast Guard is at risk, which could prompt further reductions in personnel this summer. “This bill is just the beginning,” Huot said, explaining that funds must be included in the 2013-2014 budget to secure the Coast Guard grant. “This is a difficult situation,” he remarked.
Laconia schools thankful for relationship with PSNH By Gail OBer
LACONIA — Superintendent Bob Champlin told the School Board last night that January 29 power outage at Elm Street School was caused by a small twig lodged under a electrical transformer. He said he was called at 5 a.m. by a fellow employee who lives on Elm Street and knew about the power outage. He said every other school had power so he was faced with a choice of canceling Elm Street School for the day or rerouting the children to other area schools. Fortunately, he said, “tremendous communications” between him and Public Service of New Hampshire meant the power was back on by 7:15 a.m. He said the school lost power a second time around 1 p.m. and that’s when PSNH determined a small
twig had become lodged under a transformer. Champlin said the day was reasonably warm and sunny and the school day was barely disrupted because PSNH was able to quickly fix the problem. He said he brought the incident to the board because he wanted them to know how efficient the school and PSNH work together. In other School Board news, Champlin said Laconia Middle School Vice Principal Chris Ennis and Police Capt. Matt Canfield have continued to work to improve school security throughout the city. He said that while the specific details of many of the school district and police protocols regarding school emergencies are not public information, he wanted the board and the general public to know that both agencies are constantly communicating. “We keep working on it although it’s a relatively quiet topic,” he said.
SAN FRANCISCO (AP) — Slumping personal computer maker Dell is bowing out of the stock market in a $24.4 billion buyout that represents the largest deal of its kind since the Great Recession dried up the financing for such risky maneuvers. The complex agreement announced Tuesday will allow Dell Inc.’s management, including eponymous founder Michael Dell, to attempt a company turnaround away from the glare and financial pressures of Wall Street. Dell stockholders will be paid $13.65 per share to leave the company on its own. That’s 25 percent more than the stock’s price of $10.88 before word of the buyout talks trickled out three weeks ago. But it’s a steep markdown from the shares’ price of $24 six years ago when Michael Dell returned for a second go-round as CEO. Dell shares rose 15 cents to close at $13.42, indicating that investors don’t believe a better offer is likely.
The chances of a successful counter offer look slim, given the forces lined up behind the current deal. Michael Dell, the company’s largest shareholder, is throwing in his 14 percent stake and an undisclosed sliver of his $16 billion fortune to help finance the sale to a group led by the investment firm Silver Lake. “We recognize that (transformation) will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision,” Michael Dell said in a statement. Software maker Microsoft, which counts Dell among its biggest customers, is backing the deal by lending $2 billion to the buyers. The remaining money to pay for the acquisition is being borrowed through loans arranged by several banks, saddling Dell with an estimated $15 billion in debt that could raise doubts about its financial stability among its risk-averse corporate customers.
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