[no subject]

[wrc1961@xxxxxxxxxxxxx (William Cochrane)]

I have noticed an interest on the list in things related to the new right
project in New Zealand so heres a bit from the NZ Hearld (our main daily)
of 13/5/96 regarding the privatized telecommunications company telecom.
        "Telecoms march 1996 year profit, to be announced wednesday, will
be                                    between $nz715 and $nz725
million......
Forcast that a 16.7% profit growth in the year to march 1996 will slow to
13.9% this financial year, for 1997 earnings of $nz825 million.
Telecom posted a profit of $620.2million in the 1995 year." Nb this refers
to after tax profit.
To put this in context, in a nation of approx 3.5 million, each person has
contributed over $nz200 to telecoms profits.Privatization has been little
more than a give away to capital of our most productive state owned assets
in the vague hope that the pathetic amounts gained from there sale will
some how ward off the mounting crisis of capitalism in NZ. This view of
course has little or nothing to do with recently recieving my monthly phone
bill.
Yours in indebtedness
Bill Cochrane




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