Rants, Raves, Reviews

The Hon Mr Cunliffe is Being Inappropriate

By Gary R, in , posted: 16-May-2006 13:46

Bloomberg is today reporting that Mr Cunliffe has indicated that Telecom will have to cut dividend payments to shareholders in order to increase investment in NZ telecommunication infrastructure.

You can read it here

I personally think that Mr Cunliffe has gone too far. His comments could of course impact on the Telecom share price and potential foreign investors may think twice before purchasing Telecom shares. What has happened here? It seems to me that recently the government has somehow become the 'official' unofficial spokesperson for Telecom. 

It is totally inappropriate for an MP to make any comments relating to a public company that may adversely affect or impact on that companies share price or performance. Mr Cunliffe should be spanked by Helen and told to cut it out. He should be barred and not allowed to make any further comments to the media regarding Telecom at all, period.

What a shocker!

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Comment by bradstewart, on 16-May-2006 15:38

Agreed, the government has already done enough damage. Instead of helping investor confidence they must be thinking lets bend Telecom over a barrel and screw them some more. The government and especially MPs have no place in private business. The document leak was bad enough. Its time for him to go.

Comment by juha, on 16-May-2006 15:41

Spanked by Helen eh? Ooo-err! Anyway, he's not saying Telecom will have to or must cut its dividend, if you read the story.

Comment by sbiddle, on 16-May-2006 15:46

Cunliffe didn't leak the document - why should he have to go?

Author's note by Jama, on 16-May-2006 15:52

Juha - consider the Bloomberg story heading 'Telecom NZ may have to cut dividends, Cunliffe says' From Mr Cunliffe - 'may mean on the part of shareholders that they need to accept... somewhat lower... returns'. Expressed or implied it doesn't matter. It is not the place of Mr Cunliffe to speculate on or to set an expectation with shareholders regarding future Telecom investment or dividend returns.

Comment by bradstewart, on 16-May-2006 16:03

sbiddle.... im assuming you must have a lot of confidence in our current administration? The leak was the worst leak of secret docs in our history according to those in the beehive. With the past 3 labour governments we have had nothing but scandal, screw up, leak, embarrasment. Its time for heads to roll and not just the person that leaked it but somebody higher up. The buck should stop with the PM. Everytime a minister quits or leaves their post they invariably find their way back soon enough. Really i for one have had enough of incompetent governance, this latest stupid and VERY inappropriate comment should be the last dumb thing Cunliffe ever does.

Comment by juha, on 16-May-2006 16:42

Well, whatever Cunliffe said, Rod Deane's spat the dummy over it. Got a disapproving media release from Telecom just now.

Author's note by Jama, on 16-May-2006 16:44

Cool - you going to put it up on GZ?

Comment by juha, on 16-May-2006 16:47

Telecom's dividends just got unbundled...

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