Animeart
19-04-2011, 08:02 PM
Another irrelevant decision by the court today to fine Telecom. These ongoing attempts to dig up past wrongs does nothing but take up a lot of management’s time and keep the lawyers busy. Everyone agrees that 12m is peanut to Telecom so why bother? It certainly does the UFB cause no favour by pushing back the deployment further and further. The politicians should get together with the industry to focus on strategy for the future instead of looking backward at what’s already done. Let’s get over it and move on. Don't punish a kid for his/her parent's wrong.
Does the government and industry have so little faith in the enforcement agents that they have to resort to these fines as an incentive to get companies to obey the law? I propose a more effective way to ensure that going forward CEO and the board would be more proactive in ensuring the long term survival of their company. That is to black list Teresa and Telecom’s board from the period involved. Making sure that these people at least can no longer work in any significant capacity in Australia and NZ. After all, people are inherently greedy so what does Teresa care if Telecom got fined $100m a decade later after she’s already left with her golden parachute? We know that Wall Street executive still take home millions in bonus even when the company was ran to the ground so fining a company certainly have no impact on the CEO and the board’s decision making process. In this case it only serves to continue to weaken one of our largest NZ own company and drag down our pathetically small share market.
I say enough of wasting everyone’s time and the tax payer’s money. Let’s focus on getting this UFB initiative off the ground and give the new Telecom team a chance to prove themselves. As long as the decision makers are made liable for their actions, regardless of how long and where they are now, we can be sure that decision made going forward will be for the good of the industry as a whole.
Does the government and industry have so little faith in the enforcement agents that they have to resort to these fines as an incentive to get companies to obey the law? I propose a more effective way to ensure that going forward CEO and the board would be more proactive in ensuring the long term survival of their company. That is to black list Teresa and Telecom’s board from the period involved. Making sure that these people at least can no longer work in any significant capacity in Australia and NZ. After all, people are inherently greedy so what does Teresa care if Telecom got fined $100m a decade later after she’s already left with her golden parachute? We know that Wall Street executive still take home millions in bonus even when the company was ran to the ground so fining a company certainly have no impact on the CEO and the board’s decision making process. In this case it only serves to continue to weaken one of our largest NZ own company and drag down our pathetically small share market.
I say enough of wasting everyone’s time and the tax payer’s money. Let’s focus on getting this UFB initiative off the ground and give the new Telecom team a chance to prove themselves. As long as the decision makers are made liable for their actions, regardless of how long and where they are now, we can be sure that decision made going forward will be for the good of the industry as a whole.