Forum Archive Index - May 2000

[ril <ril99_99@yahoo.co.uk>]

>From your herald site:

A very important article missed by your chatters.

TEL has a minimum $550 m required to bring lines to sub-par. We
financial analysts have known for quite a while that the owners (USA) of
TEL were foregoing maintenance and dividend stripping the company. They
bailed two or so years ago with their profits while hiding the fact
through board influence that there were horrendous back maintenance
provisions.

This is similar to owners of a bank hiding bad debts in a sale ie Cap
Markets and BNZ.

So now the public as usual is holding the turkey in TEL shares.

This is why, oh simple Kiwis, you do not allow foreigners to hold your
key assets. Oh silly, silly Kiwis. Now you are stuck with line
bottlenecks while your politicians talk the knowledge economy. Once
again you have been taken to the cleaners.

My sources in TEL also tell me there is a 1/4 bn dollar back maintenance
for un-maintained property (buildings) to come out later.

The sheep like NZ press are swallowing TEL's excuse because they are
half-witted. Anyone in the industry will tell you different.

Of course, the directors should be held to account but won't be as is
the way in NZ. This is what happens when your directors have B.Com's
instead of BE's.

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