Wednesday, May 17, 2006

More Telecom news

David Cunliffe, the Minister of Communications, probably wishes that he had kept his mouth shut after he stated that Telecom should be prepared to reduce its dividends in order to increase its investment. For starters, the Share Market was listening and Telecom lost a further 3% of its value. Now the Securities Commission is looking at his comments and he had to endure a grilling in the House.

Michael Ryan, the Leaker, has finally been sacked. He originally offered his resignation but that was refused as a sacking was felt a more appropriate ending. The police are now investigating and hopefully they will turn up something far more believable than the somewhat unconvincing explanation offered to the State Services Commission.