As of Tuesday, June 28, 2016
INDEPENDENCE — The management of Monmouth-Independence Networks has been given the go-ahead by its board of directors to create a strategic business plan for the company.
During the process, the management team will consider the company’s strengths, weaknesses, opportunities and threats, corporate finance officer Mark Thoenes said.
For more than a year, Thoenes has called Minet “stable and flat” as far as revenue is concerned. To move the company forward, it will look at other revenue opportunities.
Minet has been able to pay its operational costs, but has struggled to pay the debt the cities of Independence and Monmouth took out on its behalf to build the infrastructure for the telephone, cable and data company.
“These are plans that have unique benefits,” said Jon Carey, Minet board member and Monmouth city councilor. “Minet’s an interesting company in that, because of its nature, it’s dynamic. Things are changing all the time. Technical demands are increasing, and in some cases falling by the wayside. It’s backed by public debt and landlocked in the traditional sense, with plans to break out.”
Scott McClure, board president and Monmouth city manager, said he hopes the strategic business plan will help find new business opportunities, form the baseline and core of the business, while identifying long-term goals and objectives.