Last month; October 2008, I reported on BT’s plans to create its own fibre-optic network in the UK, starting with Muswell Hill, London, and also Whitchurch, South Wales, (Not Whitchurch in Hampshire.) at a total cost of some 1.5 billion. Short-sighted shareholders, however have basically vetoed those plans for the time being. The shareholders expressed concerns about spending that much money in the current economic climate.

Chief executive Ian Livingston was better foresighted, and said that he still believes that BT should go ahead and make the investment, which he initially announced not long after becoming chief executive. Although he echoed the shareholders’ concerns, there appears little point in cutting back on investment, job creation, resources, and investment, simply because the media have decided that everything financial is doom and gloom. All that will do is aid the recession to deepen, and amplify its effect upon the company in question.

“‘But we need to have the environment in which our shareholders feel there is a good chance of us making a return,” Said Livingston. “If we cannot have that environment this is not the time to be taking on sure-fire losses.”

Also, last week, BT announced that it plans to lay off 4,000 of its own staff and also 6,000 contractors, in order to reduce operating costs by £1.25 billion.

That seems a rather silly move to my mind; but in the light of that move it can now fund all but 250 million for the above project. – It will not do so, however. – So where does the money end up? Probably it appears on the end-of-year profits so that the BT bosses can award themselves another pay-rise as a reward for increased productivity under "detrimental economic conditions": I wouldn’t be at all surprised; the greedy ba—-ds!

Due to slowing demand and bad economic forecasts, Apple’s shares have today been forced down to their lowest price since May 2007 at only $110. Morgan Stanley and RBC both downgraded their stock on the NASDAQ earlier today. (Monday 29th Sept.)

Being more specific about the reason for downgrading; firstly the Mac purchase intentions for desktops and laptops have suddenly moderated since August. Current and future growth trends in the PC market are related to those products with a price tag of less than $1000 – Which excludes all Apple products.

Basically greedy Steve Jobs (Jobsweh; the god of all things Apple.) has priced himself and his company out of the market in the face of an unexpected economic downturn: In the authors opinion it serves him right too: After all; a Mac is just a PC with an Apple logo on it and a high price tag.

…And the forecast isn’t good either for Apple; with the dodgy economy meaning less multiples for growth stocks – And that’s Apple included; so their drop in fortunes isn’t over yet by a long shot.

It may not be all doom and gloom though; as Apple is bringing out 2 ranges of new laptop within the following fortnight. If Jobsweh can control his overwhelming greed as the dollar-signs light up in his dark eyes and keep the price below $1000 then there might just be some hope on the horizon.

Jobsweh

So what do you think? Is Steve Jobs going to become a victim of his own greed? Suppose the new laptops have a price label greater than $1000; do you think that’ll put the final kiboshes on Apple?

I’ve not posted for a while as on Thursday night I was hit by a (biological) virus. When I woke up on Friday it didn’t appear to be too bad; just everything ached, and all my normal body functions were a bit out-of-kilter; so I did something that I’ve done before and regretted: I carried on regardless.

- Once again I regretted it: Friday lunchtime I could hardly make it to bed, but managed, and today (Sunday); this afternoon, I’m recovered just about enough to post again so that people don’t start assuming that I’ve abandoned this blog.

It felt like a bad case of flu, but didn’t seem to last long enough to be flu. If nobody’s named it yet then I’m going to name it “Pseudo-Cystitis/Influenza Malefactorus”; because the initial symptoms feel like the start of contracting cystitis but those symptoms go no further although they last throughout the infection, following which the entire abdomen feels like it’s made of lead accompanied by severe influenza-like symptoms for 2-3 days. My friend had this about 2 weeks ago to a lesser extent. – So bewarned; if you think you’re contracting cystitis and your hips start to ache go straight to bed and take it easy for a few days or it’ll flatten you.

Just in case you weren’t aware; Blog Orlando was running in the USA I think it was Friday and Saturday. If, like me, you were unable to watch the live stream then fear not, as bits of it have been recorded and are still available for download  even though the live-feed has obviously been discontinued.

In the news today; Jason Calacanis predicts possible doom and gloom for the economy, WalMart take away the music, and a possible end to Apple TV as you know it?

Keep watching this blog for more interesting stories, technologies, sundries, miscellaneous, news and views. -  I’m off for a snooze.

Enjoy.