RE: Super PagesDownward trend for sure!
Even with the sale of the Pages for $810 million, Telus shares were already dipping below $18 by September 2001 - and continued plunging until the all time lows of $5.76 the following summer.
Just imagine how much quicker and/or deeper this plunge might have been without this $810 million life jacket! And how much slower the recovery for Telus would have been! And how many more thousands of employees would have been laid off!
And this same $810 million would have been the source of all the dollars which subsequently went to pay the salaries/benefits of all those thousands of Telus layoffs for one more year plus finally giving each of them an above average severance package.
Everyone should be very thankful that Telus management went ahead and sold of the Pages asset when they did! Everyone including shareholders, the current Telus employees, retired employees and all those thousands who were laid off.