Shares in telecommunications giant Telstra Ltd hit an all-time low today, before rebounding to close just slightly lower at $2.67.

Telstra's share price has reached a record low twice this week: today's low of $2.63 was three cents lower than the previous record of $2.66. The telco's shares have fallen from $3.28 over the past 12 months.

The closing price is three cents below a recent price target set by Commonwealth Bank Institutional Equities, which has a 'sell' recommendation on the stock.

Shares in Telstra fell this week after chief financial officer John Stanhope conceded that political difficulties might push out the company's hopes for a shareholder vote on its $11-billion national broadband network deal with the government from its June 2011 deadline.

The Melbourne-based company signed a deal before the federal election to gradually shut down its fixed-line networks and transfer its customers across to the national broadband network.

Legislation to split Telstra's retail and wholesale businesses is yet to be passed.


Source: http://www.businessspectator.com.au/bs.nsf/Article/Telstra-shares-hit-all-time-low-again-pd20100924-9L9KG?opendocument&src=rss

I actually missed when we went over the mark. Sad face. Last i saw was 199, now we're 203! The 200th member was... mdL.!! Congrats! Eternal fame is yours. Thanks go to fig715 who helped bring in the 201'st member Kastrallis!


(Yes this is the same as the previous annoucement, just with a different title)

I actually missed when we went over the mark. Sad face. Last i saw was 199, now we're 203! The 200th member was... mdL.!! Congrats! Eternal fame is yours. Thanks go to fig715 who helped bring in the 201'st member Kastrallis!

ONE. MORE. PERSON!

The telco giant was trying to punish employees who wanted a union-negotiated workplace agreement by offering them less pay.

"(Telstra) is waging war on its employees by offering only a pathetic pay rise over three years and refusing to allow its employees to have access to arbitration for fair treatment," the union's president Len Cooper said.

In response, Telstra workers have voted to start ongoing industrial action from Friday.


Full Article: http://news.theage.com.au/breaking-news-national/telstra-workers-go-on-strike-from-friday-20091104-hvqu.html