Glentel Inc GLNIF

RE: Business Centers

[Waterboy4]

It is a well known but poorly kept secret that the Business Division exists for only two reasons.

1. To offset the profits of the retail division.
2. To keep the otherwise unemployable fellow church member Dan Lowndes employed with the company and minimize his ability to add his "hiddelly ho!" and sound business decisions (sic!) out of the well run and profitable retail division.

What was the outcome of hiring CompassPeak to fix the Business Division, nothing but reduced payroll and branches. Richard brought in a whole team of his ex Telus cronies, closed branches, sold off or signed management contracts with the competition and nothing changes. Money was still bleeding out of every orifice, the Telus people have one by one realized the mess and moved on. The only bright note is that the management contract signed for three branches in Ontario with a competitor is reaping huge rewards...unfortunately not for Glentel but for the competitor. They are far and away the largest most successfull entity in the marketplace and have reduced the mighty Glentel from 8 branches in Ontario (Acquired from the Digital and Time purchase) to just 3 branches. All that is left is one branch in Hamilton, one in Scarborough and one in Ottawa. London, Sarnia, Hanover, Mississauga and Perth are no more.

It is history repeating itself. Glentel previously bought a large radio dealer in the late 80's eary 90's, although the name escapes me, let Dan do his magic and reduced the once successfull organization to one branch before going on another buying spree to get into the Ontario market.

I have no idea who is left from any of the acquisitions, but it is probably just a bunch of unemployable people who could not find gainfull employment elsewhere.

We can rant all day about the Business Division, but since this company is controlled by the Skidmores, the shareholders just have to hope that the Retail Division will continue to shine.

I read the commentary on the latest MD&A and the plan is to try to capitalize on their tower infrstructure and recurring revenue....what a novel idea. I am pretty sure Robert40 mentioned that two years ago as something they should do.

Perhaps the Skidmores are taking advise from this board....if so....I have a piece...Let someone run the Business Division who has some executive qualifications!!!! Dan will be fine since Jessica is making enough on 90210 now so you can stop making the shareholders support him.