RE:RE:RE:RE:RE:Telus Proposed Credit Card FeesHey Dean
Thanks on the comments and Merry Christmas to you as well. Excellent work on your Rogers/Shaw sells. Another one of your beauty moves. You sure do have your finger on the pulse of the market.
I have been a HUGE fan of BCE since we frst bought it back in May, 2009 at $24.15, I wanted to have more telcos in our portfolio so got into Telus in Oct 2016 at $21,03 (so actually $10.52 after the Mar 2020 stock split). so we have done well with it.
I have "sort of" been of the attitude that if a company whose services you use over-charges then just buy the stock to ease the pain BUT Telus is taking this to a different level. The partial sell is more an emotional thing as it makes me feel better but we still do have 5580 shares so is still a signifcant position. I actually can't see trimming any more from here but you never know. :-)
Take her easy
Sarge
DeanEdmonton wrote: Sarge, Great post as usual. I agree on Rogers, Shaw etc. and sold off all of those shares when the merger was first announced and they had the big euphoria pop. Like you we hold BCE and Telus, but have not trimmed the Telus position. I don't like some of the stuff they are doing or have tried lately, but it is still very profitable with a good dividend. That said, if they keep up with the bonehead moves I will likely joing you in trimming them big time. Stay well and Merry Christmas.
SargeX wrote: Hey Red
The chintziness of Telus is a bad sign given how they already gouge their customers but I still want to have a certain amount of telecom in our portfolios so that's why the $41.2k sell. I really like BCE and we are topped up in it. I don't like Rogers, Shaw, Quebecor, etc for different reasons so we don't own of any of them.
The trim moves Telus from a Tier1 to a Tier3 for us. The Tiers are based on book value as that is how we allocate our holdings. I've been tweaking the Tiers a bit and here's the latest:
Tier1 - BCE, BNS, CPX, EMA, ENB, KEY, PPL, TRP. You can see we really like the midstreamers and are very optimistic about them in 2023.
Tier2 - AQN, BMO, RY, TD. AQN is obviously a mess so we haven't been adding at all. We have the 4 banks and ZWB on the bank front ao that's why RY, TD, and BMO are held back. We haven't sold any of this group but just aren't buying any of them for now.
Tier3 - ZWB, DIR.UN. NWH.UN, FTS, T.. We are eventually going to bump ZWB up to Tier2. We trimmed and took our profits on the other 4 while the taking was good. Even though we've made $276k on REITs in the past, I have now soured on them as divy cuts are too big a possibility. Most of the profits are from take-overs and a really timely sell of GRT.UN when the yield got below 3%.
Ciao
Sarge
Red_Deer wrote: Hey SARGE__Since You and Wife HAD such HARD FEELINGs towards Telus regarding this ISSUE of Credit Card surcharges__I do NOT UNDERSTAND??__WHY did you NOT DUMP ALL your Telus and MOVE those $ to Your FAV BELL Canada eh ???
If your Telus was in a Non Registered account__then perhaps you did NOT sell ALL your Telus due to
some Capital Gains/OAS ClawBack issues which you did not want to BOOK for 2022 ??
SargeX wrote: My wife & I are telus customers as well as tok holders. When I saw this announcement, I thought it was pretty disgusting with how they already over-charge and then are going to nickel and dime. Just not a very good look.
Right after the annoucement, we sold $41k of our shares. We still do hold a reduced position,
As an aside, I've always preferred BCE and we hold a full position of it.
Schussing56 wrote: Reuters - A Canadian regulator said on Thursday it had rejected Telus Corp's request to charge a processing fee on credit card payments made by customers for its telecom services in Alberta and British Columbia provinces.
Canadian businesses, outside of Quebec, were allowed to pass on a fee for credit card transactions from Oct. 6, after a class-action lawsuit by retailers against Visa, MasterCard and card-issuing banks was settled.
The Canadian Radio-television and Telecommunications Commission (CRTC) said it was "very concerned about this practice as it goes against affordability and consumer interest", adding that the practice impacts consumers who rely on credit cards to pay their everyday bills.
The agency added that Telus had started charging a 1.5% fee on credit card payments in locations that were not under the watchdog's purview, including those outside of Quebec.
The CRTC said it would explore all regulatory options if Telus continued the practice and said its decision was a signal to other telecom service providers to not impose such a fee on consumers.
Typical Telus! Get as much money as they can and, who cares about service? I'm surprised to see Telus shares trading higher today, after this ruling.