Forum Archive Index - April 2002

["Malcolm Cameron" <malharcameron@hotmail.com>]

Thanks Snoopy my memory was correct I would not buy Telecom while Deane was 
CEO. Ms Gattung impressed on an Australian TV show and it was my opinion 
from this she was not just A yes person & might be able to straighten out 
Deanes mess. Alot of the stuff coming out of aussie is political as Govt. 
has to sell Telstra at a good price soon so running down competitors to make 
telstra look good. Has even blessed A 50% increase in line rental to try and 
make books look good. If Gattung can hang on for 12mths she should suceed 
with hutchison & 3g they are far ahead of anybody else here. If 3g takes off 
telstra will be dead in water for 2 years. Telstra at moment losing more in 
NZ than telecom losing here.
Malcolm

>From: "tennyson@caverock.net.nz" <tennyson@caverock.net.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: Re: [sharechat] TEL a question for Snoopy
>Date: Fri, 19 Apr 2002 12:41:06 +0000
>
>Hi Malcolm,
>
> >
> >
> >Snoopy testing my memory I thought the original decision
> >to go into AAPT was made by or under doctor Deane.
> >
> >
>
>
>Yes it was, as my diary of events shows
>
>
> >
> >
> >IT looks like Ms Gattung
> > will actually wear the Blame. THANKS
> >
>
>
>
>The increase in shareholding in AAPT from 20% to 80%, happened within
>weeks of Theresa Gattung taking the helm at Telecom NZ.   I suspect
>that it would have taken a monumental person to reverse the
>steamroller that was already chugging along that acquisition trail.
>
>Presumably part of the reason Gattung was appointed was that she
>shared the vision of the way to go forward with Deane and the board.
>So I think it it fairly unlikely she would have reversed any 'acquire
>AAPT' decision.
>
>But Gattung was young when she took over the reins of Telecom, and a
>woman.  Already reeling at these qualities, the grey suited
>institutional shareholders would have gone ballistic if she had tried
>anything radical.  Best to dispel any nagging doubt and keep the
>course that Deane had set, particularly when he was now looking over
>her shoulder as Chairman of the Board!  Gattung came at the AAPT
>acquisition from a customer focussed rather than a cost accounting
>perspective.  Perhaps she would have taken some stronger accounting
>advice on what would happen to the accounts if the customer focussed
>business plan did not pan out according to plan?   If you have to
>point to any mistake she made before jumping into AAPT then that was
>it.   She couldn't have stopped the purchase but she might have been
>able to put the brakes on while more 'what if' scenarios were
>explored.
>
>Yes, Theresa Gattung will wear any blame.   But if you are looking
>for who is really at fault should AAPT really go sour, any real blame
>must rest firmly on the shoulders of Dr Deane IMHO.  If management
>malcontent boils over, Gattung will get the push, Deane will
>step in as interim CEO until a suitable replacement is found
>and he will be hailed as a hero for sorting out the mess, then
>retire into the sunset.  Ironic, considering if anyone can be
>blamed for he causing all the problems, it was Dr Deane!
>
>SNOOPY
>
>
>---------------------------------
>Message sent by Snoopy
>e-mail  tennyson@caverock.net.nz
>on Pegasus Mail version 2.55
>----------------------------------
>"Dogs have big tongues, so you can bet they don't
>bite them by accident"
>
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M H & M M Cameron
55 Czarnecki Street
Camira 4300
Brisbane
Queensland
07 3389 0515


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