Poor Telkom

I really don't feel sorry for them at all. Telkom should burn in hell for the way they have ripped off the South African public. They don't care two slits about their customers to this very day and they still make you wait hours to speak to a consultant if something goes wrong, followed by months of "escalating" the problem. They are perhaps not fully, but mostly to blame for the sad state of affairs we find ourselves in today with wired access and I can promise you that they have meddled with the government as much as they government meddled with them.

The spawn of this arch demon, 8ta is no better. I really wish I was more of a pessimist the day I signed up for an 8ta contract. Lesson learned I suppose. Telkom's share price is sliding around R22 per share and I hope it slides until it falls face first into Dante's inferno, where they will meet their 9 circular friends they know so well.
 
Telkom used to be an organisation you were proud to work for. Innovative management, forward looking, willing and eager to embrace new technology. All this changed about 18 years ago and at an even faster pace when it became privstised. Jobs for friends replaced trained technicians who had worked themselves up the ranks. People who had unversity engineering degrees and were reaching for the top job were encouraged to take "packages" so a less experienced comrade could take his place.

A very good friend had this experience in 1997, at 59 years of age, was offered a package if he would leave there and then. No training the new people, he was told they were highly qualified. Within 3 months he had a phone call from the news boss in his old dept to come in as a consultant since the new tech could not understand the technical manuals left behind. However, after 10 days he had a call from Telkom's legal dept. One of the clauses in his retirement offer was that he would not take employment in a similar field to his old job, so even though it was Telkom who had asked him to come back, they told him they had reduced his monthly pension from R 33000 a month to R 22500 a month. Telling them that it was the new boss from Telkom had made the request and not a rival firm made no difference, so he asked this new boss what to do. This guy then said it would be better if he left right away, he was no longer required.

Fortunately, his daughter is well off and is able to assist him financially, but this broke his spirit entirely and he seems to have been in a depression ever since. He has developed diabetes, has had pneumomia twice and is now suffering from Addison's disease.

So I do not trust Telkon one iota. I asked them how a rival firm could offer ADSL at a fraction of the price they were advertising it for. There was silence for a few seconds, and then the call was cut.
 
Telkom isn't a normal company. It's controlled by the ANC and its cronies. By not spending on upgrading and maintaining its network in order to create artificial profits which were used for wealth redistribution, it has been crippled.
 
PensioN story does not add up

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ponder said:
I'm gonna call BS on this.
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The company Telkom offers no pension. The Telkom Retirement Fund is a defined Contribution Fund and NOT a defined Benefit Fund ( if u get the different definitions). In short , the former is linked to the stock exchange and funds are managed by the big fund managers of the country and is subject to market fluctuations and zip to do with the company.
 
Ispy said:
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The company Telkom offers no pension. The Telkom Retirement Fund is a defined Contribution Fund and NOT a defined Benefit Fund ( if u get the different definitions). In short , the former is linked to the stock exchange and funds are managed by the big fund managers of the country and is subject to market fluctuations and zip to do with the company.
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1997 - he may have opted to remain on the Pension Fund instead of moving his funds to the Telkom Retirement Fund.

But, yes, the amounts and "decrease" seem suspect.
 
In its traditional market, competition is perhaps even tougher than in the mobile space. Liberalisation of the market (which ironically makes the Competition Commission’s investigation and proposed fine even more ludicrous) has meant an explosion of backhaul and access services.
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Ummm, The investigation and fine relates to business practices which took place BEFORE 2004... long before Telkom ever had a mobile division. They relate to an area of the industry where Telkom historically enjoyed a monopoly position (which it continues to enjoy in that sector).

YOU ACTUALLY MENTIONED THAT EARLIER IN YOUR ARTICLE. How dumb do you have to be to write and article and forget what you wrote two paragraphs later???
 
So... are we going to see SAA style bailouts for Telkom because someone with shares says we need them?
 
OK, so I shoved my pride and decided to re-apply for ADSL after a losing my cool with Telkom. Here's paraphrasing my experience:
Me: I want ADSL, so I guess I would need a land line. Please activate both. I have a physical line.
Telkom: OK sir. Get land line first and then apply for ADSL.
Me: Serious? OK. Activate my land line.
Telkom. Credit check first (previous line not in my name). Will take three weeks.
Four weeks pass.
Me: OK, so?
T: Sorry sir. 21 working days.
Me: (thinking: yeah right!): OK, but it's been 23 working days now.
T: OK, sorry sir. We will see what we can do.
Another week
Me: So?
T: We will call you.
Two days
T: Can we come and install
Me: Yes, but remember there is a line!
T: Uhm, uh, OK.
Domestic: Telkom was here.
Line seems to work.
Me: Please activate 1 MB line
T: Seems we can only sync 384
Me: My neighbour has 4 Mb!!!!!
T: Uhm, duh, uhm, uhm, computer says no.
Me: BS, who can help me.
T: Technical, we will put you through.
Me: Sigh. 'Technical' does not have phone lines. At least none that they actually answer.
Proven right.
Me: e-mail Afrihost: I want 1 Mb ADSL, you fix, you have my business
Me = waiting, no reply yet
 
which ironically makes the Competition Commission’s investigation and proposed fine [highlight]even more ludicrous[/highlight]
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Ludicrous, seriously?

Would the author prefer that there is no punishment when a crime is committed? Like that Sexual Offences act that cannot be enforced.

Punishment should match the crime, in a perfect world that would mean that Telkom gets raped repeatedly and in a way that will hurt Telkom's bottom (line).
 
Ispy said:
The company Telkom offers no pension.
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They still have members on a pension fund. Some of those members moved over to a retirement fund but legally they cannot be compelled to do so hence some people opting to remain with the old pension fund.


Sting said:
1997 - he may have opted to remain on the Pension Fund instead of moving his funds to the Telkom Retirement Fund.

But, yes, the amounts and "decrease" seem suspect.
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The bolded part.
 
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Meanwhile, former Telkom CEO's look at their retirement fund from all their ill gotten gains and say "psssh who cares!"

Telkom was run by corrupt people and they all got out of that boat before it started sinking. Now, when Telkom is trying to turn about face, the good people are stuck in that boat with no one to bail them out.
 
StevenC said:
Now, when Telkom is trying to turn about face, the good people are stuck in that boat with no one to bail them out.
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Unfortunately they can't say they didn't see it coming. If the govt did it with SAA, why wouldn't they fund Telkom with our tax money?

MyDogHasNoNose said:
So... are we going to see SAA style bailouts for Telkom because someone with shares says we need them?
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The share price was hammered by more than 8% on Friday. This company is a prime example of how the cANCer destroys value.
 
I been trying to give telkom money since 2 years ago already, that's how long I been waiting for my ADSL line now, so how can we help them if they cannot even help themselves, maybe they should stop fighting a losing battle, because everybody hates them because of poor service, and yeah management is probably to blame, they are probably still getting their 1mil increases a year despite these things happening in the background, milking the system if you will, so get rid of this parasite you call management telkom...same goes for neotel for that matter.
 
Poor Investors(the private one's that is)

chart
 
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