Telstra shareholders have unequivocally voted in favour of the remuneration packages currently awarded to its top executives.
At Telstra's annual general meeting today, the telco's chief executive David Thodey today said it was facing challenging times as it sought to leverage its position as a "great Australian company" in the face of proposed legislation to split up its operations.
Facing a possible ban on bidding for 4G wireless spectrum, Telstra chief David Thodey today warned the government to steer clear of its backhaul networks its last front for infrastructure competition.
Telstra chief financial officer John Stanhope has said, subject to three key conditions, structural separation could benefit shareholders.
Telstra says it is open to selling assets to the government's national broadband network but it needs a guarantee on returns.
As Telstra CEO David Thodey and CFO John Stanhope fronted a mob of concerned investors at the company's Investor Day this week, it became clear just how far removed the Telstra of today is compared to the Telstra of a year ago.
Like many, I expected Telstra's dismissal was inevitable, given that it had openly flouted the NBN's guidelines and attempted to bend the process to its own wishes. But who would have expected it so soon?
If Telstra is serious about engaging with the Federal Government over the National Broadband Network it should immediately start the work needed to break itself in two.
Sol Trujillo's payout disclosed in Telstra's remuneration report attracted a lot of attention as soon as it was released. But the real story in the report is about the over-the-top pay deals stitched up by Trujillo before he left.
When Telstra launched its IT transformation in 2005, then chief operations officer Greg Winn said "IT is the root of all evil in the telco industry".
The appointment of Telstra's new management represents a break from the company's past of friction with the Federal Government and regulators. But, however it is presented, Telstra's stance towards those seeking to reduce it has to continue to be aggressively defensive.
The Federal Government's preferred National Broadband Network partner is due to be nominated shortly. As that moment looms, and Stephen Conroy's language becomes more aggressive, Telstra's share price has been imploding.
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