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Update on Aqua America's price hike

According to Aqua America's Annual Security's Exchange Commission Report, the company files rate increase requests to recover capital expenses; things like replacing water pumps, or building storage facilities.

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Aqua America public hearing

The Cape has 608 of the 3500 Aqua customers in the county. Guenter Kass, a gentlemen with an extremely heavy accent who spoke and was extremely difficult to understand, was purporting to represent and be a member of the cape board of directors; despite not achieving election by 304 owners in the community in 2008. Mr. Kass, nor Mr. Mandel who spoke as members of the cape, bothered to gather ANY signatures from any of the 608 residents to enter into the official record at the hearing. A letter addressed to him with specific instructions was posted on the Cape website. Every single one of the other communities represented had petition signatures of their owners that were entered into the official record as 'Exhibits'. Here is a recent article on Aqua's CEO and his aggressive southern aquisition "growth" strategy: http://www.sbnonline.com/National/Article/10030/0/Liquid_assets.aspx?Cat... Two speakers at the meeting showed specific exhibits quoting the soaring profits and multiple stock splits Aqua has seen with these rate hikes they go after within 3 years of aquiring existing water companies. In addition, one speaker quoted the CEO Nicholas DeBendictis in an interview posted online, as attributing his success to the low costs of operation in the Southern United States market in which pipes never freeze on Christmas Eve. He recently even earned a spot on FORBES 'business visionaries' list with his aggressive growth numbers and kudos from EPA for infrastructure overhauls. It seems that EPA would offer up some funding for these new pipes instead of expecting the cost to be borne by Aqua's monopoly of the water consumer. Google keyword: thecapepetition