Roger Kerr, New Zealand Business Roundtable Executive Director
In George Orwell’s Nineteen-Eighty Four written in 1948, Syme, the philologist, explains to Winston Smith that:
By 2020 –earlier probably – all real knowledge of Oldspeak will have disappeared – Chaucer, Shakespeare, Milton, Byron – they’ll exist only in Newspeak versions, not merely changed into something different, but actually changed into something contradictory to what they used to be.
Newspeak certainly seems to describe what has happened to Telecom.
Over the last decade the combined assaults of politicians using it as a political football, industry rivals seeking advantages through regulation, and some self-inflicted injuries of its own have virtually erased memories of the perceptions and achievements of the company in the first decade after privatisation.
Here’s the Oldspeak story of Telecom.
The company was privatised in 1990. The price received by the government – $4.250 billion – stunned observers and the market. No one talked about selling that piece of…
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