should never have been sold, page-14

everything you wanted to know about telstra Australian Broadcasting Corporation
TV PROGRAM TRANSCRIPT
LOCATION: http://www.abc.net.au/7.30/content/2005/s1461394.htm
Broadcast: 15/09/2005
Clarke, Dawe and Telstra
Reporter: John Clarke and Bryan Dawe

(BRYAN DAWE AS INTERVIEWER, JOHN CLARKE AS CONTESTANT)

INTERVIEWER: OK, your special subject is Australian Government policy. Your time starts now. Official Government policy is to sell Telstra.

CONTESTANT: Correct.

INTERVIEWER: Or to retain ownership of the half they still own?

CONTESTANT: Correct.

INTERVIEWER: For two different prices.

CONTESTANT: Correct.

INTERVIEWER: To the people who alre own it.

CONTESTANT: Correct.

INTERVIEWER: Against the wishes of the Australian public.

CONTESTANT: Do you mean all of the Australian public?

INTERVIEWER: I mean the great majority - Australia is a democracy.

CONTESTANT: Correct.

INTERVIEWER: Did the Government put any condition on the sale?

CONTESTANT: Yes, but they did it anyway.

INTERVIEWER: Correct. What was the condition?

CONTESTANT: That telephone services be improved in the bush.

INTERVIEWER: Correct. And did they improve the services in the bush?

CONTESTANT: Sorry, can you repeat the question?

INTERVIEWER: Can you be more specific?

CONTESTANT: I can hardly hear you.

INTERVIEWER: Correct. What did Telstra used to spend its money on?

CONTESTANT: On research and development in telephony.

INTERVIEWER: What did it spend its money on in recent years?

CONTESTANT: On returning a dividend to shareholders.

INTERVIEWER: Correct. Why is Telstra not worth as much money as the Government thought it was?

CONTESTANT: Well, because it's completely missed the boat on the new developments in technology and telephony.

INTERVIEWER: Correct. Why?

CONTESTANT: Because it didn't spend enough money on research and development.

INTERVIEWER: Correct. Why not?

CONTESTANT: Because it's been spending its money on returning a dividend to shareholders.

INTERVIEWER: Correct. Why can't the Government force Telstra to provide a proper service to the Australian public?

CONTESTANT: Telstra's a public company.

INTERVIEWER: Correct. Why can't Telstra concentrate on the services where the money really is?

CONTESTANT: Because it's run by the Government.

INTERVIEWER: Correct. Who is Telstra's biggest shareholder?

CONTESTANT: The Government. CONTESTANT: The Government.

INTERVIEWER: Correct. Why?

CONTESTANT: Because they can't afford to sell it.

INTERVIEWER: Correct. Why did they want to sell it in the first place?

CONTESTANT: Pass.

INTERVIEWER: "To give Australians an opportunity to purchase a stake in this great national institution."

CONTESTANT: (Snorts) That can't be right - it's completely stuffed!

INTERVIEWER: Hang on a sec. Tony, can we accept "stuffed"?

TONY: Bloody oath we can - we were opposed to it in the first place and now it doesn't work as a service and it's missed the boat as a company!

BOTH: Correct!