Jim Prentice had himself all all tied up in a knot over the fact that BCE and Telus were going to start charging 15 cents for income text messages.
Jim was so tied up (in political self interest), that he demanded a meeting with the CEOs of Telus and BCE.
Just how did our Apprentice Minister of Industry exactly think that BCE was going to service the interest on $44 billion of junl bond debt? By defaulting?
Of course not, they will do it the old fashioned way: raise prices and lay off workers.
Maybe Jim Prentice needs to invite the CEO of Teachers’(Jim Leech) to his photo op meeting in August with the CEO’s of Telus and BCE.
Prentice has much bigger egg on his face for approving the LBO of BCE than text messaging fees, How about the little matter of 2500 knowledge sector jobs:
BCE to cut 2,500 management jobs
Jamie Sturgeon, Financial Post Published: Monday, July 28, 2008
A pair of Bell Canada's repair and installation vehicles are parked outside one of the company's downtown offices in Toronto, Ont. BCE Inc. announced Monday it was cutting 2,500 management jobs.Norm Betts/Bloomberg NewsA pair of Bell Canada's repair and installation vehicles are parked outside one of the company's downtown offices in Toronto, Ont. BCE Inc. announced Monday it was cutting 2,500 management jobs.
BCE Inc. said on Monday it plans to cut 2,500 management jobs at Bell Canada as part of a massive restructuring plan announced on July 11. The cuts at the telecommunication giant's main division will represent about 6% of Bell's total workforce and 15% of its management.
Monday, July 28, 2008
Posted by Fillibluster at 3:31 PM