BT Chief To Become British Government Minister
judgecorp writes "BT chief Ian Livingston is leaving the British telecom provider to become a government minister. The executive has been appointed a seat in the House of Lords, which enables him to become Minister for Trade and Investment without having to be elected as a Member of the lower house of Parliament. Livingston has seen BT go from a £134 million loss in 2008 when he was appointed, to a profit of £2.5 billion in 2012. It still has a monopoly over certain sectors of the British telecom market, and has won all the contracts so far for rolling out broadband to rural areas."
Not really. I don't think there is much love lost between GOOG and the telecommunication companies. Other than, I guess they sell them a lot of handsets via Motorola Mobility.
I've had the misfortune to have to deal with this Ian guy and he's an UTTER UTTER c--t.
BT is a disgraceful company and the amount of people in the company I work for who have needed to use BT and been royally screwed over by them is shocking.
At least he's leaving BT and going in to government where this behavior is expected I guess.
The worst telecom company in the UK sends its CEO to the government to become a top minister? Talk about regulatory capture...
Note that BT spun off their mobile phone operation in late 2001.
note: i'm known as plugwash most places but i screwd up registering that here somehow in the past and now can't register
What a wondrous manager. To increase profits with a telecoms monopoly. Like that is a difficult thing to do. All he needed to do was raise prices.
I guess we still have Steve Jackson to take these forward?
Nice to see the UK government is just as corrupt and for sale as the US one.
Blackmail. He probably has a small list of who else besides Blair is banging Murdoch's old lady.
“He’s not deformed, he’s just drunk!”
Misery for 10 million households as BT raises prices.
BT's 6% landline price rise.
Where have you been? Big corporations and the U.S. federal government have had a revolving door for top people for at least a century.
...will include several hundred million GBP that they will get for selling off land around the Adastral Park "Research" site. That's land that was compulsorily purchased for an RAF airfeld, which was ultimately "given" to BT. So it's taxpayer's land. BT has been leaning on the local council to rewrite their land use policies to allow the farmland to be built on. They intend to build a new town of 2000 homes right next to a European Special Protection Area that is also an Area of Outstanding Natural Beauty (think National Park, without the planning restrictions).
The land value will go from 6,000 GBP per acre to at least 500,000 per acre when BT get planning permission. And the worst bit is that this kind of house building is exactly what the district does NOT need - we need new housing in all the scattered villages where low-income people live and work, instead of in one place where are no jobs.
Please can we stop tarmacing over the entire f**king world?
"Cock Up Your Beaver" does not mean what you think. This sig is intended to clog filters and annoy do-gooders
A-ha, an alumnus of DeVry's economics program.
You might want to do some supplementary reading on elasticity.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
Being a member of the house of lords allows him to be an unpaid member of the government, is a common political appointment in both the british and canadian systems (House of Lords or the Senate, but the same basic function). A UK cabinet minister from the house of lords collects about 110k pounds a year. When he gets turfed from government (as they all do eventually) he won't get paid anything unless he chairs a committee, or a couple of other things. But he will get to call himself Lord. Which is part of the perks of the appointment.
http://www.parliament.uk/documents/commons-information-office/m06.pdf
Considering the head of BT was paid 8.5 million pounds for 2012 that's a bit of a pay cut.
http://www.guardian.co.uk/business/2013/may/23/bt-ian-livingston-pay-share-price
Oh my god! You managed to save two characters by using Google's stock ticker name. Congratulations on your typing efficiency!
Interesting that this happens the day ofter the secret porn summit between the government and ISPs. I wonder if he took part in that meeting?
Korma: Good