Bruce Telecom financial officer retires
By Liz Dadson

Internet & Technology

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Bill Sipprell (L), chief financial officer of Bruce Telecom, receives a retirement gift and best wishes from Kincardine mayor Larry Kraemer

Last year was a time of major transition at Bruce Telecom as the company said farewell to its president and chief executive officer Hans O. Nilsson and welcomed new president and CEO Mike Andrews.

Now, chief financial officer Bill Sipprell, a long-time employee, has retired.

Bruce Telecom board chairman Richard Martin told Kincardine council last night (April 15) that Sipprell is remaining with the company for awhile to work with Andrews, until a new CFO is hired.

Martin said there are a number of well-qualified candidates for the job and the board anticipates hiring a new financial officer within a couple of months.

Sipprell accepted a retirement gift from mayor Larry Kraemer, on behalf of the municipality.

"I enjoyed working with the councillors on previous boards," he said. "I appreciate the time you gave and the backing this municipality has given to the telephone company. I am proud to have worked with you. And I'm pleased to leave now with the company in good standing and with a good CEO moving forward."

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16/04/2009 10:29 PM

In presenting the year-end report, Martin brought good news to the municipality with the recommended payout to Kincardine of $1.2 million by Bruce Telecom. He pointed to the 2008 financial reports and noted that revenues were off slightly but expenses were also under budget. Vertical services, such as call-waiting, increased by 4.3 per cent, long-distance customers increased by five per cent, and Digital Service Line (DSL) grew by 10 per cent.

In total last year, Bruce Telecom donated $69,000 in cash sponsorship throughout the community, including Women's House Serving Bruce and Grey, Friends of the Pavilion, Bruce County Museum, Saugeen Valley, Bluewater Summer Playhouse, Saugeen Shores Skate Park, International Plowing Match in Bruce County, Fish Kincardine Derby, Chantry Chinook Derby, Kincardine Scottish Festival, Kincardine Old Boys and Girls Reunion, Grey Bruce Children's Aid, Paisley Medical Clinic, Southampton's 150th, and the Kincardine Summer Music Festival.

It also invested $17,000 through in-kind donations to the Paisley Medical Clinic and the Family Y Daycare Centre in Port Elgin; and donated $23,220 through its annual golf tournament, to the Kincardine hospital mammography machine ($11,500) and the Grey Bruce Regional MRI machine ($11,720).

Sipprell pointed out that the company added $5 million to its capital assets last year. It borrowed $3 million from the municipality, paid off $800,000 last year, and will pay off the rest later this year.

The capital budget is smaller in 2009, said Andrews. IPTV was launched last year and and has been fine-tuned. This year's end target is 1,000 customers.

Other goals are to connect 500 more homes to the Fibre To The Home project; launching Bruce Mobility; building employee relations; and building closer relationships with other small telephone companies to take advantage of cost savings and work on common issues.

Council accepted the year-end report.