Friday, May 05, 2006

Telecom gets a hammering - no you don't own it, unless you have shares

This is my Friday rant.
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$4.72 for Telecom, it was $5.70 a few weeks ago.
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All the slobbering foaming at the mouth "it is ours anyway" mob will be downing their bottles of cask wine in excitement, stroking their moustaches and beer bellies, or their scrunched up envy ridden faces going on about how good it is that those foreign bastards are getting it at last. Ringing up talkback I bet to have a good old moan about the good old days and that bastard Douglas who sold Telecom (actually Clark and Cullen had the same amount of say at the time - Douglas had long been ousted as Finance Minister).
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Simple message - you don't fucking own Telecom. The "you" you talk about, sold it - sold it because "you" owed a mountain of debt and needed the money to pay some back - "you" spent it on welfare and subsidies and the like. "You" didn't spent a cent on upgrading Telecom after that. If "you" didn't like it, then maybe "you" should have asked government to spend less in the 70s and 80s - but I doubt if "you" did.
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Your bullshit argument that "we paid for it so it's ours" is complete nonsense - it is so mind numbingly stupid that it defies comprehension that people who know how to put clothes on can make the argument. This is about as relevant as going to the owner of a car or house you ONCE owned and claiming it is yours again -having sold it previously. You might have built the house, but you sold it and lost all rights to it - fair and square. "Oh but I opposed the sale" - well tough shit. In a liberal democracy your argument lost. The sale proceeded and no party has ever been elected to buy it back.
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So frankly when it comes to Telecom, unless you own shares you can simply fuck off, buy some and then have your say at the AGM, vote on the directors etc.
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Pay attention to something you own, and any contracts you have with Telecom - all your imaginary public good socialistic bullshit is just that - because when it comes down to it, I can't hold you or any of you lot accountable when your socialist bullshit does not deliver - such as with health care.
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It is times like this that I wish that Theresa Gattung just announced that Telecom was pulling out, and I mean pulling out - it was giving notice of the termination of all service contracts, and would be dismantling its network and selling the wire and fibre optics for scrap. Now I know this makes no business sense - but Telecom is entitled to do this - just like you're entitled to destroy your own property (unless it is a special tree or a historic place). Imagine if it did that - then where would you be? No producer has an obligation to supply you with any good or service as of right - remember that. You get goods and services by contract. Just as you can decide to buy no more, so can the producer decide to sell no more.
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Apologies for those who have shares - you do own it, and I'm sure you're feeling less than happy about how much the government has destroyed some of your wealth with cheerleaders across (most) of the political spectrum.
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Sometimes I simply think it is time that consumers realised how lucky they are that producers even exist.

1 comment:

Bernard Darnton said...

If "you" think that "you" own Telecom's local network because "you" paid for it then presumably "you" will be happy to accept a 1980s level of internet service because that's the last time "you" contributed anything.