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Thread: Pig 3 increase rates : Blaming low CANADIAN dollar !

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    Thumbs down Pig 3 increase rates : Blaming low CANADIAN dollar !

    http://www.cbc.ca/beta/news/business...ikes-1.3410425
    Shameless!

    Bell, Rogers and Telus customers should get set for rate hikes.

    The three largest telecommunications companies have raised or plan to raise the prices of their wireless packages in January, and are warning of increases to home phone and internet prices in February.

    Telus will be tacking on $5 to its Smartphone and Premium Smartphone tiers beginning Thursday.

    The change affects new customers buying phones — including Apple and Android devices — through Telus.

    Rogers increased the cost of its Share Everything plans with 5GB, 9GB or 15GB of data by $5 a month on Jan. 12.

    Bell also announced price increases effective Jan. 12, an additional $5 for both Lite and Plus Share plans, with increases of $3 to $8 for Mobile TV.

    Together, Rogers, Telus and Bell control 89 per cent of the wireless


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    That's absurd. What part of the domestic wireless industry day to day operation has a direct relation to our dollar?

    I'm being serious. What exactly is being imported that would justify *increased* costs associated with a weaker currency?
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    I guess they ran out of excuses. I mean they can't use the same excuses all the time.

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    ^ Hey that's pretty good. lol.

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    Quote Originally Posted by bubble.tea View Post
    That's absurd. What part of the domestic wireless industry day to day operation has a direct relation to our dollar?

    I'm being serious. What exactly is being imported that would justify *increased* costs associated with a weaker currency?
    You've got cause and effect mixed up. Needing higher prices causes carriers to seek reasons to justify raising prices.

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    Quote Originally Posted by bubble.tea View Post
    That's absurd. What part of the domestic wireless industry day to day operation has a direct relation to our dollar?

    I'm being serious. What exactly is being imported that would justify *increased* costs associated with a weaker currency?
    Um... publicly traded company answering to shareholders...
    You were joking right?

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    Ever increasing profits are not sustainable. Shareholders needs to pull their heads out of their arse.

    The Canadian economy is in the crapper. The dollar is bad, and food costs are soaring. People with a brain will hold on to their phones longer, and not get new ones. Seen the 'new' prices on devices yet? It's laughable.

    The shareholders can expect what they want, but I'm digging in. It's going to be a rough year for everyone.
    Un-Rogered, and getting better 'value'.

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    Quote Originally Posted by Stately Automat View Post
    You've got cause and effect mixed up. Needing higher prices causes carriers to seek reasons to justify raising prices.
    hmmmm...must watch Matrix: Reloaded again then it seems haha.

    You see there is only one constant. One universal. It is the only real truth: Causality. Action, reaction. Cause and effect.
    ―The Merovingian
    Quote Originally Posted by Mr.Peppermint View Post
    Um... publicly traded company answering to shareholders...
    You were joking right?
    I wasn't. I was however - clearly oblivious to the shareholders' fantasy world expectations.

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    Quote Originally Posted by bubble.tea View Post
    I was however - clearly oblivious to the shareholders' fantasy world expectations.
    And that is precisely what it is. People that expect 'more', at everyone else's expense.

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    http://www.thestar.com/business/2016...rice-hike.html

    People hunting for new cellphone plans can expect to pay a little more each month if they sign up with one of Canada’s biggest three wireless providers — Telus, Rogers and Bell recently announced price hikes while pointing an accusatory finger at the low Canadian dollar.

    But some analysts are skeptical, noting the big telecoms tend to have methods to protect themselves from foreign currency fluctuations.

    “If the exchange rate is such a big deal, how come we didn’t see lower prices when the dollar went up?” said David Christopher, an OpenMedia spokesman.

    New customers signing monthly contracts with Bell, Rogers or Telus now pay $5 more. Each company also lowered savings by between $10 and $15 for customers who already own a device.

    Telus raised prices partly because it has to pay more for network components thanks to the weaker loonie, said Emily Harner, a company spokeswoman. She also pointed to the need to spend millions of dollars annually to keep up with customer demand for wireless data.

    The other two companies have echoed concerns over the economy. For months, the loonie has been trading below 80 cents (U.S.), and has been hovering around 70 cents in the past few weeks.

    The companies could have raised prices to make up for the extra cost of doing business. They pay for nearly all of their infrastructure costs in either U.S. dollars or the euro, said Iain Grant, the managing director of SeaBoard Research, a technology research and strategy consulting company.

    But some believe consumers are being hoodwinked into believing the loonie is responsible for higher cellphone plans and suggest, in fact, it’s a desire for higher profits.

    “It’s a little suspicious that these big, sophisticated, publicly traded companies that are in the business of, you know, managing their risk and maximizing profit are blaming something that they likely foresaw on a price increase, across the board, in a relatively short amount of time,” said Geoff White, external counsel to the Public Interest Advocacy Centre.

    All three companies engage in foreign exchange hedging programs, he said, based on an analysis of their 2014 annual statements and most recent third-quarter reports.

    “It’s like paying premiums to lock in a certain foreign exchange rate in the future so that you’re guaranteed you’ll be paying a certain amount,” said White.

    It’s impossible to know exactly how successful those initiatives have been based on the information in those reports, he said, but “it looks like they’ve been able to do it quite effectively.”

    But Grant says that when the loonie is forecast to remain low compared to the U.S. dollar for a longer time frame, “the currency swap options are more limited” and expensive.

    “The cost of these hedges has also increased dramatically with the decline in the dollar,” said Jason Laszlo, a Bell spokesman. Telus and Rogers did not respond to questions about foreign currency protection.

    The companies could have opted to lay off workers or accept lower profits until the loonie recovers, Grant added.

    Instead, they chose to pass the cost on to consumers in a move that likely benefits the company’s bottom line.

    “Higher prices make for happier financial analysts, which usually translate to higher share prices,” said Grant.

    These simultaneous price hikes fit a pattern that Canadians have grown accustomed to, said Christopher, regardless of where the dollar stands. The trio of telecoms similarly increased prices for monthly plans for new customers over a two-month span in 2014.

    The three big wireless providers can get away with such increases because there’s a lack of competition in most provinces and territories, he said. In Quebec, Saskatchewan and Manitoba, where a fourth carrier operates, the companies are not implementing the price increases.
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    It's all just BS. If anyone actually believes the big 3 haven't already purchased, and have possession of the equipment to add, and upgrade towers, I have a great bridge for sale.

    This stuff is planned well in advance, and contracts are signed to maintain pricing. It's a cash grab.

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    This thread is useless without Rogers apologists ircu and jcalder.
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    Rogers Communications Inc misses profit expectations as tough competition drives up promotion costs
    Bloomberg, Jan 27

    The real reason behind increased prices - competition!
    Only in Canada.

    Rogers added 31,000 new contract customers, compared to a loss of 58,000 last year.

    Someone has to pay for all those new customers!

    --
    Rogers defends higher cellphone rates; misses forecasts despite bigger profits
    Canadian Press, Jan 27

    TORONTO - Rogers CEO Guy Laurence on Wednesday defended the communications giant's decision to raise cellphone rates despite higher revenue and profits, saying it was necessary to cover the high cost of building and maintaining mobile networks.
    ...
    [Laurence said] the daily cost of a wireless plan is still less than a premium latte.

    "If you think about how much work it takes to build, run and upgrade a national mobile network, trust me it's a lot more work than making a cup of coffee," he said.
    ...
    Rogers... said it posted a profit of $299 million in the fourth quarter and $1.38 billion for the whole of 2015, both up slightly from 2014.
    Last edited by pjw918; 01-27-2016 at 04:04 PM. Reason: CP coverage

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    The root cause.

    Sibling gave up 5 GB / $50 wireless plan for 1 GB / $85. To save $500 on iPhone now, she will lose $840 and 96 GB over next 2 years. *sigh*
    - Twitter Jan 23

    (Apple profits need protection too)

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    How much new landline networks have been deployed?

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