Nolan calls for ComReg to "back off"

Mr E

Heard Philip Nolan on the news on Radio 1 tonight. He has asked for ComReg to back off Eircom.

More here (including real audio of the interview):

http://www.onbusiness.ie/2002/1216/businesstonight.html

- Dave.

Mr E

Just as I was posting this, I got disconnected from EircomNet. Strange coincidence or what?

- Dave.

Hannibal_12

Back off ???!!!????.
Im too annoyed to post anything else, I'll let someone else point out the obvious.

David C

grrr...
The cheek

DiscoStu

squirm little man, squirm

JohnK

would make you wonder what sort of 'golden handshake' he is after getting... :mad:
I can't believe that he actually wants the ComReg to back off. If anything they need to push eircom harder :mad:

dahamsta

Makes you wonder how much of this kind of guff is real, and how much is purely for show...

adam

DeVore

Jesus, they paid themselves 1M each and 3.8M to Alfie.... and then wonder why they company lost 48M that year...

There are words to describe how I, as a director of a company would describe that but they are far too actionable.

DeV.

sceptre

Recently Eircom admitting it offered prices to some customers 'off book', or below those agreed with the regulator for a period of almost two years.

Dr Phil, go suck an egg. If your company is acting illegally (and it is - see above for one example) and COMREG don't do anything about it, I'll personally ring all day to find out why.

As people have pointed out, the ODTR and COMREG haven't been active enough. Making comments like that may indicate that he's actually scared they might do something about Eircom's illegal activities - the shady illegal business dealings, the lies, the misleading advertising.

(note - this isn't an anti-Eircom rant (actually it's not even a rant) - just making a comment in advance of Phil Nolan's appearance to give evidence at a tribunal coming to you circa 2008)

Incidentally:

Today's results show Eircom made a loss of €47m for the year to the end of March 2002, including exceptional costs of €144 million.

Obviously haven't read through the accounts but as an ex-accounting student, at a glance that would indicate that after accounting for "exceptional costs", Eircom made an operating profit for y/e 31 March 2002 of 97 million euros (and that's possibly before ignoring the interest charges on the debt incurred by the buyout).

For a business in a troubled industry they're not doing too badly at all.

SkepticOne

Originally posted by DeVore
Jesus, they paid themselves 1M each and 3.8M to Alfie.... and then wonder why they company lost 48M that year...

This would be part of the €144M "exceptional items" mentioned in the report. Git rid of those, and Eircom are making a nice little profit.

spongebob

Their year end is in March and they want to make an exceptinal loss (redundancies and Dick Springs expensess) in January to offset the operating profit they make in March.

Then Phil can whinge at COMREG

M

Tazz T

And from Dr Nolan in the Irish Examiner today...

'Given the level of competition in the market the sector does not need regulation and it should be scrapped.'

We know what needs to be scrapped and it's not regulation.

seamus

Originally posted by Tazz T
And from Dr Nolan in the Irish Examiner today...

'Given the level of competition in the market the sector does not need regulation and it should be scrapped.'

We know what needs to be scrapped and it's not regulation.

HAHAHAHAHA!!!! That'll have to go in the 'quotes of the week' on Sunday.

"Given that we have a complete monopoly in the sector, there is no need to employ people to regulate it, we'll do a good job on our own."

Sweet Jesus, he's one of the four horsemen, I'm sure of it.

MDR

Sweet Jesus, he's one of the four horsemen, I'm sure of it.

pork99

Christ if I was COMREG he would be wearing his kneecaps as a necklace (not literally though - that wouldnt work)

crawler

All very suspect given Comreg's directive decision on Partial Private Circuits yesterday......eircom simply were not given the chance to sit on PPC's for ages and ages and ages and ages...very very suspect.

Hannibal_12

Originally posted by Tazz T
And from Dr Nolan in the Irish Examiner today...

'Given the level of competition in the market the sector does not need regulation and it should be scrapped.'

We know what needs to be scrapped and it's not regulation.

Is Dr Nolan going for the international comedy awards best act? or is he just experimenting with some illicit substances because that is the single most ridiculous statement I have heard since "I did not have sexual relations with that woman, Miss Lewinsky".

MDR

Partial Private Circuits

What are 'Partial Private Circuits' ?

JohnK

Originally posted by Hannibal_12
Is Dr Nolan going for the international comedy awards best act? or is he just experimenting with some illicit substances because that is the single most ridiculous statement I have heard since "I did not have sexual relations with that woman, Miss Lewinsky".

I'd have to agree with that

crawler

MDR without getting all "tekkie" - basically you buy one big A end ( say 34Mbps ) at the OLO switch site then you can sell of lots smaller 2mbps , 64kbps etc sircuits as B ends.

Only one A end install needed so much cheaper than multiple leased lines - kinda the same as channelised E1's but has better scalability

Used a lot in the UK and offered by BT.

Mr E

Jeez... If thats the layman's explanation, I'd hate to see the Techie explanation!

- Dave.

crawler

it's like lots of small rivers converging on the bleedin' sea! QED

crawler

converging :- The occurrence of two or more things coming together

Occurrence - an event or events



I'm finished my rant now.....

Delphi91

Originally posted by Hannibal_12
Is Dr Nolan ...just experimenting with some illicit substances...

Methinks that could be the answer! And on top of that, it seems Peter Lynch, the chief Financial officer is joining the good Dr - have a look at the photo in the Business and Finance section of todays Irish Times. It's right beside the wonderful headline "Eircom ringing in new year with losses of €104m"

I pity anyone who fell for the Eircom marketing campaign and who bought (now worthless) shares. The photo certainly looks like Messrs Nolan and Lynch are having a good laugh at them!

Mike