Several Indiana cities -- including Hobert, Muncie and Lafayette -- that had expected to earn revenue from advertising appearing on city-owned trash cans have seen those deals put on hold.
Lafayette Mayor Tony Roswarski says he’s ready to sever an agreement with National Cart Marketing, which had promised to pay half-a-dozen Indiana cities for the privilege of putting advertising on trash can lids.
“Probably by January if I don’t see that they’ve got it straightened out, I’ll just cancel the contract with them,” Roswarski says.
NCM was originally slated to put the new lids on Lafayette trash toters last year before the company’s venture capital fell through.
NCM CEO Phil Bonello, who declined a taped interview, says he’s had meetings with prospective investors and feels he’s nearing a deal, though he wouldn’t say with whom or for how much money.
He says he met with Roswarski recently and apologized for the delay. Bonello says the mayor did not issue the January deadline during that meeting.
Bonello says his first funding deal fell apart eight months ago when an investor became skittish about the financial markets – just before NCM was to hire employees in Lafayette to sell local ads.
Bonello says his company hasn’t had to lay anyone off, but says some employees haven’t been receiving pay during the financial struggles. He says he hasn’t had to cancel any contracts yet and is hopeful he can meet Lafayette’s January deadline.
