Ann: Telstra Half Year Results Market Release, page-11

Its back to $2.60 by June.  

Penn is a banker and good at numbers, however he lacks the creative imagination/vision/enablement that David Thodey brought to the organisation.  If you look at the CV's of the current leadership group they lack any Telco experience.  Its like putting a baker in charge of a surgery, l don't get how board and shareholders are so naïve the think that will work.

Having said that the one good thing Telstra is doing right and that is replacing Siebel CRM and moving to Salesforce.   They need to significantly reduce IT costs and be comparable to TPG on CAPEX expenditure if they are going to compete going forward. 

Telstra Small Business performance against customer needs is a disaster they must fix this is they want to return to growth.