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Posted on November 14th, 2008 by Barry Collins
Is BT boss losing his bottle?
“This is a bold step by BT and we need others to be just as bold,” – BT chief Ian Livingston, announcing the company’s £1.5bn fibre broadband rollout in July.
“I have to tell you there are some shareholders who say ‘you know something, don’t do that, don’t do a whole lot of other things. That leaves you with a lot more cash and cash today is worth a lot more than cash in a few years’ time. I personally believe if it is the right thing to do as a 20-year decision it is the right thing to do. But we need to have the environment in which our shareholders feel there is a good chance of us making a return. If we cannot have that environment this is not the time to be taking on sure-fire losses.” – BT chief Ian Livingston quoted in The Guardian today.
Not looking quite so bold now, is he?
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November 17th, 2008 at 6:12 am
Bloomin’ share holders!
The problem at the moment is, investors are looking at short-term returns – one of the reasons we are in our current mess.
If we looked at 20 years for short-term investment and 100 years plus for long term investment, we could probably advance much more rapidly, rather than having share holder worrying about what will come at the end of the next quarter, instead of whether the company can invest, so that it is still making money when they retire…
The human race is turning in on itself, greed is causing people to not look past the end of their noses and we are caught in a downward spiral. Hopefully some investors will have the courage to actually start investing in mankind, as opposed to looking for returns to keep them in 5 star restaurants every evening…