Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Telecom monopoly delivers megabucks for bosses

The massive pay increase for Telecom's chief executive Rod Deane is only possible because the company has a virtual monopoly on its lines business, Alliance leader Jim Anderton says.

'It's not surprising that Telecom's bosses are so antagonistic towards regulation in the interests of the consumer: They are personally creaming spectacular sums of money for themselves out of Telecom's monopoly,' Jim Anderton said.

Rod Deane's pay increased by $200,000 to $1.88 million last year.

Jim Anderton said Telecom is obviously defensive about the way it rips off the New Zealand public and uses the proceeds to pay excessive salaries to its executives.

'It just goes to show how arrogant Telecom is that its departing Chairman Mr Shirtcliffe thinks there should be no criticism of Mr Deane's pay by anyone but shareholders.

'What about the millions of households whose line rentals are forced up by the rate of inflation every year, even though the costs of providing the service are actuall!
y falling? Telecom gives discounts only in the Wellington streets where it faces competition from Saturn. Everywhere else, it massively overcharges households so that it can over-pay Mr Deane.

'What about the six hundred Telecom operators who lost their jobs this year? Their jobs were lost so that Mr Deane could get another four thousand dollars a week.

'What about the Internet users who are being forced to pay a special monopoly premium so that Telecom can exploit its dominant market position in other areas to drive its Internet competitors out of business? They are paying more so that Mr Deane can pay himself more.

'I'm not surprised Mr Shirtcliffe and Mr Deane hate regulation so much. It would come straight out of their pockets.

'If ever there was a case for regulation of a lines business, it is exposed by the wild salary Telecom is lavishing on its chief executive. After the election this year, Telecom will be regulated and phones will be cheaper for New Zealand house!
holds and businesses. The Alliance will see to it,' Jim And!
erton said.
Visit http://www.alliance.org.nz for more information about the Alliance

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news