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".... their debtors"
Sorry it is "creditors"
"Inevitably, the state theft of private BT property would mean the lowest price paid possible,......"
Have not experienced Communism or "state theft" but have seen Flybe or Debenhams , where private shareholder got shafted while both companies still doing business and making profit for their debtors. I did not have shares in these companies but seen many suffered. I think Avrohom is right, this could be the best news for BT share.
Never imagined I would agree with Avro -:)
Figgsey,
Corbyn does not worry about the opinion polls since he has given us all free broaband he is living in the virtual world.
Papers today have Labour 16 points behind. I don't think that any party so behind in the final month of an election subsequently went on to win.
Velo,
I have seen valuations of 15 billion for openreach. This works out at around £1.50 per share. The rest of BT must be worth well over £1.50. BT acquired EE for 12.5 billion. Lets give it worst scenario that Corbyn only pays £10 billion for openreach. We would still own the rest of the company .
Velo,
Help us all out.
In reality will Corbyn's plan really be such a disaster for BT. Is it not possible or even likely he will pay for our shares much more then its present price.
Obviously AW et’ all. Any member of a civilised society would have to ask. WTF is wrong with you people?
Have you let nonsense poison your minds that much? I can only assume half the sickos who get over excited and threaten MPs with all kinds of hate are in this site, or I’ve kind of been proved right that some people given the right propaganda can be talked into any kind of uncivilised behaviour.
Agree with that lamtree, Corbyn is a ****ing danger. Can't wait until the **** dies.
Your comments are hilarious Sicko1. Sounds like you’re the desperate one.
Hope to see more posts from Chief. Good insight and has certainly got me thinking Cheers and have a good evening :)
BT shareholders are always going to talkup any new "scheme"! Their shares have lost -60% in 4 years and -85% this century! Shareholders are desperate for anything. Anything!
But, the reality is, state theft of private property is extremist communism.
Every single extremist-communist state on Earth has failed and is failing.
A doddery old grandpa approaching 80, or an innumerate granny with failing health, like Corbyn and Abbott, are never going to run advanced fibre technology for 70 million people.
Inevitably, the state theft of private BT property would mean the lowest price paid possible, followed by anarchy unions, national paralysis, and losses running into the billions, if not trillions.
Labour is a red, extremist communist gang of overpromoted Polytechnic students.
You can see from the polls Labour will not win next month. The Tories will get a landslide win. The state theft of BT will not happen.
Velo y Tigerchamp,
Velo, I must admit I've followed many of your posts over the past year and more, often bringing a smile to my face! That article is ever so true in so many ways. Personally, I don't trust any of the politicians but given my predicament in Centrica and BT - both heavily under 'Cpt Nemo levels of water'.... I'm thinking I'll be suicidal if Labour get in. They (collectively) already destroyed my RBS, Bradford n Bingley and HBOD holdings in 2008 which I've never recovered from! Words can't describe that. Probably best for me if Boris 'Liar liar pants on fire' gets in and takes some sensible and decisive broadband stimulus measures. Jansen and du plessis are clearly capable individuals and do seem aligned to create value...I'm just not sure I will live long enough! :(
Tigerchamp- that does sound like a Golf related tag. He's had a good year! Good points by the way. To be fair BT do deserve a fair return given the billions they have invested in the network. There seems little chance any nationalisation is going to fairly price that into any compensation even though they ought to. Hopefully commonsense will prevail. Ultimately, that's all one can hope. Well, I for one am Hoping! :)
@chiefcelt- quality post. And McDonnell is looking to nationalise National Grid, Royal Mail among others aswell. This and the two mentioned, what is the point? Absolute madness and i think they are getting desperate hence all of their promises. Unfortunate you have a high average, I think BT is a nice share to have, however they are in quite a pickle at the moment. Corbyn Threat (i think is minimal), plus BT is aiming to cut £1.5bn from its costs over the next few years by getting rid of 13,000 jobs, which will cost around £900m. And they will cut their dividend.
On the plus side, Bojo wants to get the public off copper networks by 2025 and has commited to £5bn to achieve this. I think BT will get a nice slice of the pie and profits will rise imho.
Nice post Chief.
- Chief's lament of:
". . . As someone that bought in to BT for a small brief turnaround & ended up 'holding' from 3.40 & now massively under water, it seems to have been one nightmare after another. . . "
- surely must echo with many, and an opportunity for me to post a pithy copy'n'paste from one of my investing books (circa 2011) Never wanted to refer to it as investors don't want to be continually depressed over a holding besides there's many a bear on most forums to do that job. Anyway here it. Although published in 2011 it's as if it could have been written today with BT in mind. Read it and tell me it has utterly no revelance to BT :)
-------------------------
DON'T PLAY WITH POLITICAL FOOTBALLS.
==================================
Industries and companies can become political footballs. When they do they are screwed. Business folk think they are smart and tough, but politicians are the next level of machismo. Politics will always crush business.
It is a happy business that operates away from the dead hand of government.
For sure, if an industry makes too much money, government will find a way to confiscate a lot of it.
One of the good things about new industries is that government takes a long time to get its fangs into them and therefore there is plenty of room for growth before the parasitical drain of government gets hold. The final phase of this death grip is when government tells business what to do and makes it pay for the blessing.
Now as a socialist you might be gung-ho for government; that’s OK. Places with a lot of government and huge taxes like Sweden can certainly be better places to live than Puntland with neither tax nor government. However, as an investor, you invest in companies with an overlap with government at your peril.
If a company is actually a political football, it is doomed. A company caught up in a political process is like a ragdoll in a game of tug of war between two pit bulls. It can be fun to watch so long as you aren’t the poor kid who owns the doll.
When politicians get involved in industry you need to remember; they don’t know about business they know about politics. Politicians don’t care about business, they care about politics. Politicians don’t care about profits they care about politics. You get the idea.
As such, a company that gets itself caught in the political machine can expect to be horribly mangled.
(Then a pivcture of a crashing price chart similar to BT's since 2016 - but in this instance the author shows RBS price fall).
Good afternoon folks. Many good points on forums around Bt and the pickle it finds itself in. Mr Jansen didn't seem a little too laid back, almost accepting of labour's proposal. As someone that bought in to BT for a small brief turnaround & ended up 'holding' from 3.40 & now massively under water, it seems to have been one nightmare after another. I finally lime tbe chairman and ceo, better decision making & now this.
Clearly anyone would think free broadband is a fab idea but.... I can't help but think Mr Corbyn & Mr Mcdonnell don't really understand the internet/broadband/ fttc etc. And the nitty gritty of it all. To me, regardless if my heavy loss/investment here, it seems madness to spend money & time splitting up BT or Nationalising it. Destroying Talk Talk, Virgin, Vodafone & all other businesses employing people/ paying taxes on use of the network currently. Even people employed in 'price comparison sites' would probably lose jobs. Surely, its far more sensible for any government to incentivise more rapid expansion of the fibre network at minimal cost and without maximimum upheaval. The competition in the broadband supply market is already intense but also provides huge amounts of taxation to the Inland Revenue.
Labours plan, as well as making me even poorer (most likely) doesn't make financial sense to taxpayers. Has Mr Jansen pointed out....There's the build out cost, the pension liability issues, the loss of profit from current set up of openreach as a business. 5billion a year....the tax receipts, the cost of the openreach/bt employees going forward, the unemployment creates from redundancies at virgin, sky, vodafone, talk talk , price comparison, router manufacturers, broadband et al. It's completely bonkers. As many people have said, where do you draw the line? Nationalise TUI & give free holidays to all citizens...nationalise asda, tesco and all food suppliers. Lets face it shopping costs 3-5k+ a year to every household...that would be a huge benefit to all. Lol
It seems logical to tax Google, Amazon etc. Many of whom are openly & secretly abusing personal information for their own gain. I've no problem with that and put that money to helping incentivise bt et al. to improve the slowest & most remote connections more quickly. My view is that as long as we manage to go full fibre within, say, a decade from now....there's no massive loss of productivity. Folks that live in remote areas deserve higher connection speeds but those in cities getting 25-70mps speeds have enough speed for a good number of years yet.
For me, there's way too much hype & inaccuracy on the subject. Anyway, sorry to ramble on. Everyone is entitled to an opinion on anything but ultimately, if we are being sensible about this, given the way the western economies exist today....and the fact that UK gov't debt has exploded/doubled in a decade ....adding tens of billions of pounds on to create British Broadband seems nu