TPG out performs, page-12

To be fair to TLS, management wise, it is very very hard to control a company with so many employees and so many layers of management, middle management, lower management and foot soldier staff.

In TPM, it's all controlled by a single company-wide mantra of keeping costs low (at all costs!) and everyone is expected to follow that.

I am sure Telstra being such a big company, employees who have benefits or who can claim "travel" and "entertainment" and "expenses" do so, and waste heaps of shareholder wealth every single DAY. It's hard to control.

Perhaps holders of TLS only stayed for the divs and because it's a "big brand name"? TPM should generate more interest, they're growing. TLS is at its peak and is doing all it can to avoid losing market share every quarter. We can all see how it will play out in the near-mid term...