An article intoday’s Toronto Star provides a beautiful illustration of why Telecoms are amongst the most reviled businesses on the planet. The article is about how the Canadian Radio-television and Telecommunications Commission is looking for input in the creation of a”Wireless Code of Conduct.” Among the many recommendations for things to be regulated are:
- Elimination ofhidden fees by forcing providers to specify the ways in which “unlimited” packages are, in fact, limited
- Inclusion oftaxes and extra fees when advertising the prices of their wireless packages
- Transparency in billing and the cancellation fees
- Restricting their ability to force Canadians to sign a three-year contract
Basically, the CRTC is trying to force telecoms to conduct business with the one thing that has always eluded them:
Integrity.
Telecoms have mastered the art of spin in their marketing, and since the beginning of time have lived by the credo “The Large Print Giveth, and the Small Print Taketh Away.” They are driven by Quarter-to-Quarter gain for their shareholders at any cost, and the concept of allowing integrity to creep into their business decisions simply never makes it through the oak doors of the executive boardroom.
It should be a colossal embarrassment (but it’s not)to the CEOs and Board of Directors of these companies that they are so morally weak that legislation actually has to be enacted in order for them to act with integrity.
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