move to cut the cost of regular "copper"' broadband by as much as
$12/month. Instead, prices will fall between $2.48 and $7.48 a month,
meaning NZ's 1.25 million broadband households will miss out on as much
as $140m a year in reduced charges.
Chorus' profits would also have been much lower, so Adams' decision to
overrule the regulator was welcomed by shareholders. Their shares' value
has risen almost $300m over the past month."
It's great that the NZ public is subsidising another now privatised but once state-gifted monopolistic enterprise built on publicly-funded infrastructure.
Your average Joe Kiwi has plenty of spare disposable income ... it is only right that he should donate to this worthy cause through higher broadband prices.
After all, it is well known that private shareholders and investment banking houses, and multinational holding companies like Rio Tinto are strapped for cash ... the least we can do is give them a hand out... they are too efficient to be able to cope with a competitive market (the electricity gentailer cartel also comes to mind).
Corporate Welfare - Because They're Worth It! ;-)