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Poor Little Rich Girl

Entry 320, on 2006-05-05 at 13:49:49 (Rating 4, News)

As I said in my last blog, I am delighted that the New Zealand government has decided to be more positive about the country's on-line future and has forced Telecom into a competitive situation where they will no longer be able to get away with their current monopolistic tactics.

I watched an interview last night where the company's CEO, Teresa Gattung, was asked about her reaction to the move. Naturally she predicted dire consequences, where Telecom would no longer be able to invest and provide the great services it has been up until now. Based on those comments she's either incompetent or a good liar, most probably both.

In practically every other country in the world this move has been made many years ago and has resulted in better services. Who does she think she's fooling by pretending that Telecom offer great services and have just been picked on by the government for no good reason?

Teresa has been CEO for a few years now, and she is paid NZ$3 million per year - about 10 times what our prime minister is paid. Apparently a large proportion of this is paid in the form of a performance bonus. How they define what a good performance is I don't know, but presumably its not based on the quality of telecommunications services, or she'd get nothing! More likely its based on the financial returns the company generates, so after the company's value has dived by well over a billion in a day her bonus might be in doubt again. Oh how sad. Poor little rich girl!

Comment 1 (257) by Tim on 2006-09-27 at 17:37:36:

Woo you're nasty. That comment was just dripping with sarcasm.

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