Friday 20/04/2001

Have I ever mentioned that I've always thought BT's obsession with global deals doesn't sit well with the company's dogged refusal to properly grow its domestic market? I have?

Well, I don't mind repeating myself. Especially now, as rumours have it, that BT's growing black hole of debt caused by lack of dosh at home is forcing the company to flog its half of the Concert consortium to AT&T, which already owns the other half. Not that Concert will repay investment; BT may see three billion quid back, but the consortium's hardly done what was claimed for it.

What I don't understand is how anyone failed to see this happening. I'm not an analyst, I don't wear a tie and I don't sit on padded leather chairs with my padded leather bum listening to briefings all day long from members of the board. But we've had year after year of every aspect of BT's business conspicuously failing to cut the mustard -- only a fool would pay BT's international direct dial rates, while the company is fighting its own customers tooth and nail over local call and broadband access. Why, exactly, were people surprised when the whole structure started to do the Tacoma Narrows Bridge Waltz earlier this year?

The world is a strange place. I wonder if I've got any Easter eggs left...