GTE Estimates Fire Losses at $5.5 Million
Thousand Oaks-based GTE California estimates its losses from the recent Southern California fires at about $5.5 million.
Some of the damage was covered by insurance, “but some of it was self-insured,” spokesman Larry Cox said.
Besides overtime for repair crews, the company’s biggest loss was the destruction of 370,000 feet of telephone cable. “That comes to about 70 miles,” Cox said.
No employees were injured and no GTE buildings were damaged in the fires, he reported.
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