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Taxpayers Face £22Bn Bill If Bt Goes Bust

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http://www.telegraph...-goes-bust.html

'The High Court yesterday ruled that the Government must guarantee to provide the pensions of almost all the 340,000 members of BT's indebted pension scheme .

The landmark "crown guarantee" ruling means BT would have to make good any deficit in its pension plan if the company ever went bust. The £54bn pension scheme, the UK's largest, was £22.8bn in the red at its latest triennial valuation in December 2008.

Whilst I accept that there's a litany of villains,I would like to know why it always has to be Joe Taxpayer that's the good guy?

They will go bust. Can't see this bunch of tossers having a business for much longer. Indeed I told the BT woman this yesterday on the phone to complain yesterday.

My BT landline only provides 750 kbps (was told when I ordered "up to 8MB").

So I am currently posting on this forum using 3G Vodafone dongle that gives me up to 3MB download.

I fail to see what the point of what BT's fixed line broadband service is any more, and will surely go the way of the telephone business.

I'll burn down parliament before I contribute one penny to their pensions!

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They will go bust. Can't see this bunch of tossers having a business for much longer. Indeed I told the BT woman this yesterday on the phone to complain yesterday.

My BT landline only provides 750 kbps (was told when I ordered "up to 8MB").

So I am currently posting on this forum using 3G Vodafone dongle that gives me up to 3MB download.

I fail to see what the point of what BT's fixed line broadband service is any more, and will surely go the way of the telephone business.

I'll burn down parliament before I contribute one penny to their pensions!

If you feel like that, target the Elite's houses - get them where it hurts.

Public buildings is a load of ****** and waste of energy.

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BT can't be in trouble as they are still paying generous bonuses:

http://www.guardian.co.uk/business/2010/may/23/bt-bonus-executive-pay

BT chief's £1m bonus enrages union as strike ballot looms• Communication Workers Union is pursuing a 5% pay rise
• BT has cut 35,000 jobs over past two years
..../
Livingston is set to receive his bonus as a result of the company's dramatic turnaround. The payout is based on financial targets – cashflow and earnings per share – customer satisfaction and environmental and social factors. About 40,000 BT managers will also receive bonuses from BT's improved performance last year.

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Doesn't anyone in government ever say to themselves "Hmm, this really isn't going to work, is it?"

Oh, sod it. Just kick the can up the road a bit longer. Defaulting on a whole pile of stuff is pretty much the only option at some point afaict.

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I post this as someone who has just seen an increase in my own pension contributions.

In the case of BT, why doesn't anyone suggest paying those already in receipt of a BT pension, slightly less every month? That would seem the most logical thing to do.

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Whatever happened to bad things happening? It seems now we socialise everything, be in bank losses, pension failures, you name it. It's not this carp I keep seeing on here about "elites" - the elites don't have BT pensions - it's simply a nation that has gone utterly and totally soft and mustn't have anything bad happening.

Well of course all it leads to is something REALLY bad happening, as the prudent and the wealth creating become unable to carry the burden any longer.

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BT is still very much public sector with our government holding the golden share. All the BT engineers known to me personally have retired early on full pension entitlement for medical reasons, in their fifties most of them! Can we afford them?

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BT is still very much public sector with our government holding the golden share. All the BT engineers known to me personally have retired early on full pension entitlement for medical reasons, in their fifties most of them! Can we afford them?

Agreed, a friend of mine recently retired from BT, in his mid 50's on full pension.

The state should not pick up the bill!

He got out as BT were gradually worsening the terms of redundancy/retirement.

Edited by Sir John Steed

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They will go bust.

and the gov will be on the hook, which their heroine created [thus making them, in the voters' eyes, culpable], to the tune of 22bn ...

... or ...

as C&W's share price crashes by 20% (july) because of cut public sector contracts, BT will retain ALL its gov contracts 5 days prior to this ruling and only a day before the biggest roun dof public sector spending cuts since the war, and will be given more management consultancy work via its restructured Global Services arm, and will even take on BSkyB (News Corp interest ) AND WIN in the high courts (July), and be involved in gov roll out of broadband, depite monumental cuts elsewhere ..

_

Edited by Sledgehead

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BT can't be in trouble as they are still paying generous bonuses:

http://www.guardian....s-executive-pay

BT chief's £1m bonus enrages union as strike ballot looms• Communication Workers Union is pursuing a 5% pay rise
• BT has cut 35,000 jobs over past two years
..../
Livingston is set to receive his bonus as a result of the company's dramatic turnaround. The payout is based on financial targets – cashflow and earnings per share – customer satisfaction and environmental and social factors. About 40,000 BT managers will also receive bonuses from BT's improved performance last year.

Looting.

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If they were private and went insolvent the PPF would pay out, only up to £27K a year though. The UK Government could be considered insolvent

but they would overrule the PPF.

Pension schemes are doing a lot better, latest PPF 7800 (pensions protection fund index of 6653 schemes)

October 2010

Total assets were £961.8 billion and total liabilities were £982.2 billion.

£20 billion overall yet BT owe that just by themselves.

Edited by northwestsmith2

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They will go bust. Can't see this bunch of tossers having a business for much longer. Indeed I told the BT woman this yesterday on the phone to complain yesterday.

My BT landline only provides 750 kbps (was told when I ordered "up to 8MB").

So I am currently posting on this forum using 3G Vodafone dongle that gives me up to 3MB download.

I fail to see what the point of what BT's fixed line broadband service is any more, and will surely go the way of the telephone business.

I'll burn down parliament before I contribute one penny to their pensions!

British Telecom (aka Indian Telcom) are the most useless company I have ever dealt with.

My list of debacles in the last 6 months includes;

Mrs B phoning to change name on account after marriage. BT somehow interpret this as cancel direct debit.

MrsB phoning several times unsuccessfully to resolve the lack of payment due to above

Me opening a new account online, only to be given a technical error, and a message saying "Try again"

...so I did

.........so I now have 2 BT accounts at the same address

Me phoning to cancel 1 of these pseudo accounts

After several calls to Indian Telecom, this was done.

First bill came, they double bill me for line rental (I paid 18 months in advance, over £100)

Call to complain, BT they say they havent had money

Call to bank....they say BT have the money

Call to BT....they say the don't have the money. They try and sell me line rental for a 3rd time

.....Indian on the end of the phone unimpressed that I am unwilling to pay for the same line rental for 3 times.....

Write to BT with statement showing money gone......

...awaiting response.

Guess its a Small Claims job. This company is absolutely shit.

Edited by MrB

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British Telecom (aka Indian Telcom) are the most useless company I have ever dealt with.

My list of debales in the last 6 months includes;

Mrs B phoning to change name on account after marriage. BT somehow interpret this as cancel direct debit.

MrsB phoning several times unsuccessfully to resolve the lack of payment due to above

Me opening a new account online, only to be given a technical error, and a message saying "Try again"

...so I did

.........so I now have 2 BT accounts at the same address

Me phoning to cancel 1 of these pseudo accounts

After several calls to Indian Telecom, this was done.

First bill came, they double bill me for line rental (I paid 18 months in advance, over £100)

Call to complain, BT they say they havent had money

Call to bank....they say BT have the money

Call to BT....they say the don't have the money. They try and sell me line rental for a 3rd time

.....Indian on the end of the phone unimpressed that I am unwilling to pay for the same line rental for 3 times.....

Write to BT with statement showing money gone......

...awaiting response.

Guess its a Small Claims job. This company is absolutely shit.

I phoned BT a couple of weeks ago hoping I wouldn't get someone from India because they never seem to listen to what you are saying. I got an Indian accent on a line that sounded as though it was from foreign parts so just hung up. A couple of minutes later the phone rings and it's the Indian person asking me what I wanted. I told her my query and in trying to repeat it and confirm what I had said, she then said something completely different to what I had said to her. So I told her the truth that I had hung up because whenever I got someone from India they never listen to what I say. She asked me if I wanted to speak from someone in the UK so I said yes and got through to someone in the UK who answered my query immediately. In future I will save time and just ask for someone from the UK whenever I get someone in India.

If that isn't politically correct so be it. I have had the patience to try a lot of our friends in India but it's now worn out.

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I phoned BT a couple of weeks ago hoping I wouldn't get someone from India because they never seem to listen to what you are saying. I got an Indian accent on a line that sounded as though it was from foreign parts so just hung up. A couple of minutes later the phone rings and it's the Indian person asking me what I wanted. I told her my query and in trying to repeat it and confirm what I had said, she then said something completely different to what I had said to her. So I told her the truth that I had hung up because whenever I got someone from India they never listen to what I say. She asked me if I wanted to speak from someone in the UK so I said yes and got through to someone in the UK who answered my query immediately. In future I will save time and just ask for someone from the UK whenever I get someone in India.

If that isn't politically correct so be it. I have had the patience to try a lot of our friends in India but it's now worn out.

A friend of ours has an elderly relative who simply can't understand the accent, and does the same.

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A friend of ours has an elderly relative who simply can't understand the accent, and does the same.

She's probably partially deaf like me. That makes it extra difficult to understand foreign accents.

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British Telecom (aka Indian Telcom) are the most useless company I have ever dealt with.

My list of debacles in the last 6 months includes;

Mrs B phoning to change name on account after marriage. BT somehow interpret this as cancel direct debit.

MrsB phoning several times unsuccessfully to resolve the lack of payment due to above

Me opening a new account online, only to be given a technical error, and a message saying "Try again"

...so I did

.........so I now have 2 BT accounts at the same address

Me phoning to cancel 1 of these pseudo accounts

After several calls to Indian Telecom, this was done.

First bill came, they double bill me for line rental (I paid 18 months in advance, over £100)

Call to complain, BT they say they havent had money

Call to bank....they say BT have the money

Call to BT....they say the don't have the money. They try and sell me line rental for a 3rd time

.....Indian on the end of the phone unimpressed that I am unwilling to pay for the same line rental for 3 times.....

Write to BT with statement showing money gone......

...awaiting response.

Guess its a Small Claims job. This company is absolutely shit.

I couldn't agree more, they are just totally useless and more stress than dealing with every other company put together.

I go through the routing of complaining about my ball achingly slow broadband every month, there is a brief flurry of interest when I threaten to cancel the direct

debit, and we go through the fraud that some engineers will be "investigating."

They re-profile the line, there is a temporary uplift in speed and within a few days, when they think you've given up and lost interest, it slows to a crawl again. No I don't live in the sticks.

They now want me to "vote" for Infinity in my area, ie; Fibre To The Cabinet. They can bog off. I've got a dongle . What can be simpler than a dongle without the horror of dealing with "Indian Telecom?"

Bt don't seem to realise that these days you just buy a dongle, plug it into your notebook, and surprise, surprise it works, with none of the techno babble of line speeds, "interleaving" and getting involved in turf wars between, BT Openreach, and BT Wholesale.

I'm sure the staff do it for a laugh, getting customers to fiddle with their line box, and the stupid repeated question by the Indian call centre of "have you changed your router?" Yeh I just happen to have a stock of BT Home Hubs under the bed! Idiots.They know full well its their crappy network thats fecked!

Ring up the Advertising Standards Authority or Ofcom and they just groan when you mention BT. The most detested company in the country.

I hope they go bust, and no compensation to BT Pensioners. I'll blow up the local exchange first!

The only good thing is that if taxpayers end picking up the bill, it might just be the straw that breaks the camels back, and spark a revolution with the (retired) scum that couldn't get fixed broadband right being next in line to be strung up after our banking overlords!

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If you think BT is bad come live in the USA and take out an AT&T contract. I subscribed to a transatlantic deal which reduced international calls - then about a year later I failed to notice he terms were changed on the account. I then got a $146. bill for an 1hr 305 min call over the weekend. AT&T operate as a scamming machine, with awful interenet which disconnects frequently leaving you to spend time and money getting it reinstated. In the end we gor rid of the land line and use cell phones.

BT and ATT will not exist in ten years and we should all be getting free wireless comms in our homes. Here in the US the only thing stopping it is a circuit court ruling which upheld AT&Ts right to provide service in a small texas town. They originally decided to provide free access to internet using the emergency services wireless... people started using it for phone services and ATT took the City to court. Result was people were banned from using free wireless. Thats one example of how corrupt the legal and corporate world are.

Edited by bpw

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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