I worked in EIRCOM when it was the ‘Post & Telegraphs’ also. Started there in October 1980! and had the chance of taking voluntary redundancy in May 1992. Made many good friends and great work experience there also.

Sad to see it like this now.

How can we not look at this example of corporate greed and mismanagement (specifically when referring to the previous controlling entities) and not wonder what will happen if other state services are “privatised”?

The milking of this cash cow and the wholesale debt leveraging has left our entire country in a depressingly familiar state, with a wholly inferior telecommunications infrastructure. As ever, no-one can be blamed and no-one accepts responsibility.

Good man Alan… you’re spot on. The exact thing that Ireland needs is another large company to fold with the Irish taxpayer left to help the people who are doing their best to keep things going.

this wud be a good chance to fix the botch job that that gombeen o’rourke and ff made back in the day when it was privatised! they never shud have been given the network as part of it! that was a vital narional infrastructure at the time! and if i remember correctly it was also fairly good in its day! then the greed of the employee shareownership thing and corporate vultures ran it into the ground reaping any profits and not investing! now we shud compulsorily purchase the network back and start working to upgrade it for the nation. just the network! leave the commercial operarion to sink or swim on its own merits! then get all the companies using the network to pay for their access to maintain the network and cover continuous upgrades. there really ought to be one state infrastructure authority in charge of all this stuff, the roads, the power grid, the trains, the gas mains, the water system, mobile communication masts. anything that goes in the ground or is of national importance. i really dont think we shud pass up the opportunity to get our hands back on the network!

This is caused by people borrowing to buy the company, then selling and leaving the debt with the company to repay, also staff who bought shares continued to take dividends, the company should never of been privatised, however they have another chance now…..best of luck eircom!

Eircom another example of Tony O Reilly business sucess up there with Waterford Crystal OOPS he fked that sucessful business up too.Ah well i am sure the tax payer will pick this bill up just like the banks if Enda and Pat Rabitte have their way

I was lucky a few years ago, every one I met who was in the banks told me to buy Eircom shares They told it was easy money but I remembered what my Grandad said to me when I got my first job, If it sounds to good to be true leave it alone. Thanks Grandad ,Rest in Peace.

They should have never been allowed buy Meteor mobile when they were already over leveraged to the hilt… 6/7 years later they’re still running it at a loss…

Not to mention they’re plan for digging themselves out of debt was that all the fixed customers they lost were going to come running back if they just borrowed 500mil and plugged it into marketing…

Eircom at this point is the Irish version of Enron

Ireland would be a better place without eircom.

Petition to appoint a receiver to Eircom. Is this part of the examinership process or is the company being wound up?

http://bit.ly/HhknAb