BT shares tumble on £340m Global Services bill
Investors again rushed to dump BT stock this morning after the group warned its Global Services division would trammel overall financial performance this quarter. At time of writing BT shares are down more than 13 per cent, at 106.6p. In the three months to December 31 2008, outsourcing unit Global Services was hit by a one-off …
Wow ... 245p last year and 106p this year [a loss of 57%] is Incompetence on a Grand Scale or will the markets downturn/financial meltdown be the scapegoat that masks the dismal BTeam sub-prime performance that will allow it to continue with and in ITs Poor Lead Direction?
Obviously the Problems sit right at the Top of that Particular and Peculiar Tree, as in IT, it always does.
I stopped reading, paralysed with laughter, when i got to "excellent customer service".
Just think, wasn't that many years ago this company was one of the 20 largest in the world by market value.
Complete and utter cockup of incredible proportions.
I say borrowing and pissing another billion away on share buybacks is clearly the way forward. Getting the company into more debt and throwing it at the shareholders should work.
to the days of them hiring a plane to go around the world selling switching systems - was it one or two that were sold?
£340M is somewhat less than 2 days' revenue for IBM. It's a big boy's game.
Paris, 'cos she prefers big boys.
Give it up, El Reg. Sniping at British Telecom is just so unfair -- as a company, they're one of the most customer-focused around.
For example: at the very moment El Reg is doing the dirty on BT, into my email tray has landed a missive from BT: Important Information about your BT Service.
It's a fabulous email, stuffed full of great news about making free calls to 0845 and 0870 numbers, depending if you're on Unlimited Friends & Limited Relatives Calling Plan 9 From Outer Space After 6pm Easter Sundays. Or not.
Then there's another heading: "We're making a few other changes, too."
Gosh! Wot larks! What exciting changes will these include?
Ah. Here it is, right at the bottom : "We are also making some other changes to our prices and terms and conditions, which are detailed below. They include an increase in the price of basic line rental of £1 a month from 1st April".
Pretty close to a 10% increase, and reassuring proof that inflation is definitely still with us and so all is well.
The only reason BT didn't headline its email: "Notification of Way Above RPI Price Increase" was because, was because. . .
I don't know. It's not as if British Telecom is a nasty, deceitful, theiving, incompetent bunch of scumbags, is it?
