Traffic light camera provider Nestor put in receivership
11:40 AM Thu, Jun 04, 2009 | Permalink
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 Providence Journal photo / Kathy Borchers
The Nestor Traffic Systems camera, seen in a 2005 photo, photographs a driver and a car's license plate
PROVIDENCE, R.I. -- Nestor Traffic Systems, the Providence-based company that provides red-light cameras and vehicle-monitoring services, has handed over operations to a court-appointed receiver. Superior Court Judge Michael A. Silverstein on Wednesday appointed Jonathan N. Savage to run the company, Nestor announced in a statement early Thursday. In some cases, as occurred with the East Providence jewelry maker Colbri, a court-appointed receiver sells a company's assets to pay back creditors. For now, at least, Nestor hopes to continue operating from its Providence headquarters, though the receiver plans to ultimately sell the company's assets. "Nestor has provided high quality traffic enforcement technology for the past ten years," the company's chief executive officer, Michael C. James, said in the statement. "I want to assure our customers they will continue to receive advanced technologies and high quality service during this time." Nestor has 80 employees, including 55 in Rhode Island. Its clients include Frederick, Md., and cities in California, Georgia and Ohio. The company has been struggling for several years. In 2007, Providence Journal writer Timothy C. Barmann reported that Nestor had severe cash flow troubles. 
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I thought the company had an idea that would sell. Too bad, they could not get the economics to work. I wish all the employees and company a happy future.
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I'm glad to see Nestor Traffic Systems fail. It's just another tax on people and brings nothing to improve safety.
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everyones against speed enforcement until there kid gets hit by someone speeding in a school zone. ppl just don't want to be held accountable for their own actions.
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