sack the ceo, page-22

I can only laugh at all the spleen being vent over Telstra. This company was NEVER going to make it for long term investors. Let me give you a perspective of someone who has been in the stock market for over 35 years. It started as a government owned, absolute monopoly. Before TLS there was no Telecoms competition. The CEO of 20 odd years ago Frank Blount is on record as saying his job was to "lose market share gracefully". If that doesn't make you run for the hills then nothing will. So you have a company that graciously lets competitors come into their market space to eat their lunch. All the while there are some 50000 odd public Servants more worried about their morning tea, other allowances and their super than trying to become a lean, mean commercial, profit making machine. Change the leadership and everything will be ok? Bring in a raft of Senior outside managers. Crap. You don't change 100 years of Public Service culture without a massive industrial relations uphheaval, and that never happened. Oh yeah, this was going to be a real growth stock. No way. Throw in a another American clown like Teflon Sol and no wonder this baby is going down. Never had a hope. My advice is if there is a bounce get out, and fast!!