A special committee of the City Council has spent months digging into one of the city’s largest assets, Jacksonville Electric Authority (JEA). That hard work and mountains of information has paid off big for JEA customers and all taxpayers.
Their recommendation is to keep JEA as a municipal-owned utility and not place it on the market for sale. There are many reasons why the City needs to hold onto it.
We applaud the members of the committee who did all the hard work, read all the reports, listened to all the experts and formulated their recommendation after all the facts were reviewed.
A wise man and my business mentor, Charles “Red” Scott, always said, “Never, ever sell the cow.” That meant you hold on to what keeps producing “milk.” If you sell it, you get a one time chunk of money but no long term benefits. And sometimes a chunk of money in the wrong hands could be wasted. We believe a chunk of money in the hands of politicians is always wasted so we applaud this recommendation even more so.
A Wink is earned by these council members and to City Council President Anna Brosche for understanding the importance of putting this committee in place.
For more information about Why JEA should not be sold, check out this article: http://www.jacksonville.com/news/20180627/keep-jea-and-build-on-its-success-council-committee-report-says