4 thoughts on “Devereaux Asks Town to Include ‘Our Most Local Bank’ in Future Bidding Opportunities

  1. Bankwell is like family to me. They treated me like family for fifteen years.
    And I’m sure for many others…

  2. No doubt we need to keep local firms in mind and offer them an opportunity to respond to an RFP. That being said, the all-in economics to NC taxpayers are priority #1.

    Sometimes a local firm may win based on economics. Sometimes out of town companies, with larger economies of scale and expertise, win based on the economics to NC taxpayers. This may be the case with US Bancorp’s “government leasing and finance” group. Town leaders must require RFP’s, and a minimum of two bids for any significant transaction, whether it be a new snowplow, computers, financial services or even a series of landscaping projects that add up to meaningful taxpayer dollars. Over a long period of time, I am convinced the only things folks (from my kids to big companies) understand are: (i) what hits their pocket; and (ii) competition. Proper RFP’s flush this out for all to see. Given the First Selectman worked at an investment bank, I am confident First Selectman Moynihan understands this view. I am happy RFP’s seem to be a hot button for the other selectmen too. Please keep up the good work. We all have an equity stake in the success of NC! Transparent and regular use of proper RFP’s will improve the outcomes for NC taxpayers, and local businesses. Indeed, if it is not part of the current funding protocol, the Selectmen should require department heads to deliver the RFP and responses as prerequisites to any funding request. I vaguely recall we would do this for a new dump truck, but the RFP concept must apply to everything.

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