Don't Steal - The Government Hates Competitors

Today the Government stole $500,000,000. (Yep, Half a billion dollars.) That's the predicted fall in value that Telecom will suffer as a result of the Government's decision to unbundle the local loop.

Now, you might think that Telecom is a big profitable company - which it is - but to have it's property regulated by the Government to allow others to use it is unfair. It would be the equivilant of the Government letting anybody use your driveway to get quicker access to a beach, or river, or anything without giving you any compensation for the loss of enjoyment and privacy you currently enjoy. And in that situation you would normally stop maintaining the 'confiscated' part of your property.

I'm not a shareholder of Telecom but if I was I would be pretty annoyed with the announcement. Not anywhere does the responsible minister announce that Telecom will get compensation for their obvious loss.