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shoddy corporate governance « Previous | |Next »
January 22, 2006

I'm having real connectivity problems at the weekender in Victor Harbor. I came down to the coast to avoid the heat wave that has enveloped Adelaide last week. Alas, the heat storm has hit Victor Harbor as well.

Broadband--which took weeks to get going thanks to a faulty Telstra exchange--- has dropped out. After lots of checking the fault has been traced back to Telstra's infrastructure. I'm not susprised, given the run down nature of the essential telecommunications infrastructure. What did suprise me though was that Telstra will not do any repairs for 48 hours, as they do not work on weekends. They'd do it in a capital city.

So I've fallen back on dialup as a backup. But I could not even get connected yesterday--the lines were too busy/ overloaded/ blocked. I kept dropping out. This is the first connection I've had in 36 hours. This highlights Telstra's indifference to the regions.

I'm really angry with Telstra. They spent and lost billions on overseas investments; money that could have been spent on renewing their copperwire infrastructure in the outer rim of the capital city. Telstra's shares deserve to keep dropping. I hope they do. And I hope the Howard Government loses a lot of money on the sale because it has not established a competitive market where Telstra is forced to ensure that our essential telecommunications infrastructure works as it should.

So this cartoon about executive incompetence appealed to me:.

moirVH.jpg
Alan Moir

I know, the image doesn't express my specific black mood about corporate governance in Australia. The lack of service provided in the regions that I've expereienced is due to cost cutting .That means minimal repairs and few maintenance staff. That is seen as good corporate governance because it increases profits. Increased profits keep the shareholders happy.

Still my point remains. Many Australian CEO 's are incompetent. Their strategies are shortsighted, blinkered by corporate fashion, and they avoid competition by seeking protection.

| Posted by Gary Sauer-Thompson at 7:24 AM | | Comments (0)
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