Word: telekom
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...have things gone so terribly wrong for two of Canada's once esteemed telecom giants? What's happening in Canada is a reflection of a fundamental power shift taking place globally. Once untouchable telcos and their suppliers, including Nippon Telegraph & Telephone Corp., Deutsche Telekom and France Telecom, have become mastodons stuck in a tar pit. They are surrounded by a host of new technologies and hungry cable companies, wireless operators and handset providers with low-cost solutions and must-have apps. These competitors and their supply chains are smarter, faster, more aggressive. And they're gobbling up business...
...main company. That process has been delayed and may never happen. Motorola lost $3.6 billion in the fourth quarter of last year. For that quarter, revenue from the company's handset unit dropped by over half Several members of the Motorola board have run other huge firms including Deutsche Telekom and JPMorgan. But, the company still has two CEOs and has not explained to shareholders why its cellular phone unit will never be worth a dime...
Obermann alerted the state prosecutor's office on May 14. Friedrich Apostel, the prosecuting attorney in Bonn, where Telekom has its headquarters, said prosecutors would determine in the coming week whether there is sufficient evidence to warrant opening a full-fledged investigation. "We first have to determine whether there is sufficient evidence that a crime was committed," he said...
Whether the goings-on at Telekom were criminal or not, the disclosure has caused a uproar in Germany and further soiled the already tarnished image of the country's corporate leaders. Public anger is growing over the widening gap between the mega-salaries of top corporate executives and the falling purchasing power of workers. That is fueling a political shift to the left that could have an impact on national elections next year...
...extent of damage done by the Telekom affair can be felt in the emotional responses. Hans-Olaf Henkel, a retired IBM executive and former president of Germany's main business lobby, said what happened at Telekom was "reprehensible and disgusting," comparing it to the "methods of the East German Stasi" secret police. "This is not capitalism," he said. "It's not my understanding of the market economy." If a captain of industry condemns Deutsche Telekom with such vigor, the judgment of the average German is not likely to be any more forgiving...