Glentel Inc GLNIF

RE: RE: RE: RE: Bell closes The Source deal

[Robert40]

I agree with you PMPT. Business division is a drag on overall performance of the company. it is basically used for tax writeoff purposes by Glentel. If you see their track record for the last 10 years, Business division is eating in to profits of Retail division. During last couple of years fuel is added to the fire by East verses West mentality. Glentel business division bought companies and kept giving cotrol to new companies. These companies were not making money therefore Glentel bought them in the first place because of bad management. This pissed off western staff and all the directors (sales,service, engineering) quit enmass and moral went down the drain. This new guy JMD, hired unqualified friends to management position and moved control to Ottawa. Grade 10 guys with GE's call center experience became the Managed services chief (God knows what he manages except he was working with JMD in GE before both were let go. Another sales person (CL) was hired as project and implementation head who is always on prescription drugs. Third guy was made IT chief and all he did was taking pictures at every function, fourth guy was logistic head who does not know the difference between a broadband radio and a narrowband radio. Anyway this kind of favoritism and ambition to spend money on sprucing up buildings got glentel business center in hole. last month all administration and logistics/warehouse is transfered under VP.  With no major projects announced in any news release (as if they got any to announce) they are still surviving on old narrow band UHF, VHF terrestrial radio business. Their state of the art satellite business is loosing money, terrestrial radio is barely surviving on projects announced during last couple of years. All oil field projects are cancelled or put on hold. Every company is facing credit crunch and therefore all glentel's tower infrastructure is sitting idle. only mobile satellite business is making some money. Their Broadband head guy (DA) is joining Motorola. So return on investment of nearly 80-100 million dollars in Business Centre assets is nearly negative. Technical staff is ready to quit as soon as market conditions improve. This is really pathetic situation and only solution is to sale the company or some heads have to roll. i wonder why board of directors of Glentel can't see this and hire capable qualified technical person as head. Retail is the only hope.