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Sir Pete to get bumper payoff despite failings

It was today rumored that the BT board was set to award disgraced executive Peter Bonfield a bumper payoff of 2.5M + lucrative share options. Bonfield has presided over a disintegrating BT empire, increasing debts, sliding market share, and a series of blunders with regards to the future direction of the telcommunications market in the UK. He will be remembered as having been responsible for decisions that amount to disturbing short-termism on behalf of his company and blatent attempts to boost profits in the short term. Many shareholders will find it difficult to see why such a large payoff has been proposed when the companies lack of direction and failed management decisions are considered. BT debt now stands at a staggering 30 billion, approximately the stock market valuation of BT itself. There will be an emergency 5 billion rights issue to try and cut debt and BT is expected to sell assets that is considers unneccessary.