Telkom bosses hit pay dirt

Besides the usual warnings of what could go wrong at Telkom, the annual report provides some unsettling news about the company’s financial position.

For one thing, it has negative working capital of R9,3bn, which means its current liabilities due to be paid within one year are greater than its current assets. Telkom says the danger of this is that if it isn’t able to generate enough cash or borrow money to fund itself, it may have to “defer capital expenditure and may not be able to pay dividends”.
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All the more reason for Telkodemonopolies to sell off that 50% of Vodacom, such that Telkodemonopolies could settle its debt, and still have enough left over to appease its greedy [guavamental] shareholders...

It remains to be seen if Telkodemonopolies will have any substance to it after selling off its 50% of Vodacom, IMO Vodacom is trapped inside of Telkodemonopolies' spineless body, Vodacom needs to be freed from guavamental oppression...add to that some waffle about wings & flying.

IIF Telkodemonopolies sold off its 50% of Vodacom, IMO it would be really great if ownership of the Local Loop was then effectively nationalised [|relinquished to the state] - provided that LLU would then happen by default and almost instantaneously - much like the [as yet unproven] "open access" policies being marketed by SEACOM & EASSy, but applied to the local loop infrastructure...
 
For one thing, it has negative working capital of R9,3bn, which means its current liabilities due to be paid within one year are greater than its current assets. Telkom says the danger of this is that if it isn’t able to generate enough cash or borrow money to fund itself, it may have to “defer capital expenditure and may not be able to pay dividends”
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What on earth is going on here, this is very very serious... and in my opinion boarders on reckless trading, what on earth are they doing to mess things up like this, and if things are so bad why are they playing silly buggers with IPTV and other half baked ideas, and then after the mess they sack the cash register for what it has left, this is even worse than Eskoms performance bonuses, and SAA's passing around the begging bowl so that they can fund Mango airlines in the hope that they will put their competitors out of business, so that they can carry on with their full scale rape of the consumers without having to work too hard

It seems to me that there needs to be an urgent public enquiry into what is really going on with Telkom, as well as a full and proper audit of their books, peoples jobs and homes are now at stake because someone has messed up big time. This cannot be allowed to happen. Also it appears now that if just one case in the competition commission sticks, Telkom will be well and truly sunk
 
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DragonLogos said:
Also it appears now that if just one case in the competition commission sticks, Telkom will be well and truly sunk
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Perhaps, it might be an idea to keep an eye on positions opening up in Telkodemonopolies' legal department - if the beast's permanent staff lawyers start leaving in droves then Telkodemonopolies is very close to death.
 
Not everyone in telkom agrees to the millions in benefits. It's mainly just the head of the snake that are reaping the rewards, and I'm pretty sure those employed by telkom aren't too happy about the millions lost to 1 person. Imagine if you are just struggling to get by as a telkom support person and you hear that the boss is taking home over R40 000 a day

Telkom could actually be a great company if it had great leaders, but it seems that they are just taking it for a ride now and will jump ship later when things fall apart.
 
eltherza said:
Not everyone in telkom agrees to the millions in benefits. It's mainly just the head of the snake that are reaping the rewards, and I'm pretty sure those employed by telkom aren't too happy about the millions lost to 1 person. Imagine if you are just struggling to get by as a telkom support person and you hear that the boss is taking home over R40 000 a day

Telkom could actually be a great company if it had great leaders, but it seems that they are just taking it for a ride now and will jump ship later when things fall apart.
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This is a problem that's been there since the beginning of time. To become a manager in Telkom you have to have been there for years and years or be previously disadvantaged or ass-creep

But yes, I've seen many people struggle on R4000 pm and hear their bosses taking home R11,1 mil. You know what that does? Most of them start their own businesses on company time and then sod off eventually.
 
Large scale Profit taking is normally the indication of a company getting ready for a sellout or a trip to the liquidations court. Doesnt seem like the latter, so I guess the buyout is immenent.
 
DIE Telkom DIE! :D
Maybe a better more capable company can buy Telkom to take Telecoms in RSA to the next level.
 
HBee said:
Large scale Profit taking is normally the indication of a company getting ready for a sellout or a trip to the liquidations court. Doesnt seem like the latter, so I guess the buyout is immenent.
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Well they've wanted to sell out for over 10 years now... so no surprise
 
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