In response to the Sept. 5 Associated Press article, “MMA Railway could be sold,” I believe that although it isn’t the wisest thing for the Montreal, Maine & Atlantic Railway to make any large bankruptcy loan, fuel transportation is a necessity. If the company is bought sooner than later, it is better because the loan could be paid back quicker.
But how will the MMA pay off the debt from a bankruptcy loan? It would be easy if they were paying it back in smaller amounts (if MMA is bought), but what if the company is eliminated, then replaced? What happens to the debt? Would it get dumped on the state of Maine?
Although we should do our best to compensate all of the victims with some of the money from MMA’s purchase, it is not going to help the company get out of the financial pit that it will be stuck in from the loan it is planning to make.
While selling MMA is wise, taking out any overwhelmingly large bankruptcy loan that will make its financial problem worse isn’t a wise idea for the state of Maine because of the chance the MMA would go out of business.
We need to work together and use a little bit of the state budget to help keep it running until the company is bought.
Samantha Deans
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