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Privatization Of Australia's Telstra

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posted on Aug, 10 2005 @ 07:13 PM
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Telstra has reported an 8 per cent increase in annual profit to $4.447 billion, slightly higher than market forecasts.

Analysts had been tipping $4.39 billion.

The company says growth in the mobile phone and broadband markets boosted revenue. It has faced stiff competition from Optus in those markets.

Telstra shares have climbed 1.6 per cent this year to $4.99.

Telstra is 51.8 per cent owned by the Government, which wants to fully privatise it in late 2006.

www.abc.net.au...


I have but one question...Why the heck are the government selling an asset that made over 4 billion profit that could go into the pockets of everyone and not just the elite rich who buy shares?




posted on Aug, 10 2005 @ 07:28 PM
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Originally posted by Mayet
I have but one question...Why the heck are the government selling an asset that made over 4 billion profit that could go into the pockets of everyone and not just the elite rich who buy shares?


Umm....Because the Australian government is about as sharp as a bowling ball.

For those who don't know, Telstra was the last major Australian asset left. These dumbasses have sold away all of our power, water, and other amenities to post a quick "profit" and look good on the books for their term of office.

Now, we don't own anything at all, and most of the profits are going overseas while the shareholders are leaching more and more out of us everyday. Pretty soon 95% of us will be living below the poverty line, hopelessly in debt, and Australia won't be such a "lucky country" anymore....



posted on Aug, 10 2005 @ 07:45 PM
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Sad to see it happen in Australia too, but I suppose with such a conservative government it was inevitable. This is the only kind of 'new world order' that actually has any relevance in practice.

Let me guess, I bet you're being told this will lead to cheaper everything concerning that utility in the long run.

Be prepared to suck up higher charges and #tier services, cos' that's what you're going to get.

Profit is God from here on in. Service means nothing any more for the simple reason that service in a utility market means large scale reinvestment of profit in the status quo.

Once utilities are privatised, the status quo is the stock price, and customer satisfaction refers solely to the shareholders.


[edit on 10-8-2005 by kegs]



posted on Aug, 10 2005 @ 07:47 PM
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presumeably because the people running the governement are also the people running the companies that will take over the assets and the profit.

its like americans saying how come we dont get cheap oil now we own all of iraqs oil. probaly because the people that now control the oil will just try and rip everyone off and the price will go up not down.



posted on May, 28 2008 @ 07:42 PM
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their tech looks pretty cool

its from www.news.com.au...

[edit on 28-5-2008 by Fibonacci11235]



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