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Global Tel Link Complaint - The Real Story on Global Tel Link
Complaint
People should check out p. C1 of the 14 October Wall St. Journal. Behind the high charges and poor and rude customer service I've read about on other postings is a paragraph that GTL is borrowing money to pay out a very large dividend of $173 million to Veritas Capital, a private equity outfit, and other investors, including Goldman Sachs. Last year Veritas paid $70 million to buy control of GTL; this year it will get back $80 million of that $173 million dividend--that's over a 14% return on its investment, and it still controls the firm to be able to get future payments. Does this look like legalized looting, first of GTL, and then of us through GTL's state-sanctioned monopoly powers?
Comments:
Posted by jktshff1 on 2010-10-15:
Don't understand your point. Here is a company making money and, because of contractual obligations, putting money back into the system and providing jobs.
What's wrong with that?
Aside from that just look at the more reviews section.
What's wrong with that?
Aside from that just look at the more reviews section.
Posted by getoverit on 2010-10-16:
Borrowing money strictly to pay out a dividend sounds like good old-fashioned milking of a corporation to me, and I don't see where that would create any jobs. But, in all fairness, I didn't see that WSJ article, could not locate it on the WSJ site or by googling.
Judging by Google hits, the company is not making a lot of friends. But let's face it, this is not the kind of business that is likely to create a lot of good PR. It's sort of like a tow-truck company.
Judging by Google hits, the company is not making a lot of friends. But let's face it, this is not the kind of business that is likely to create a lot of good PR. It's sort of like a tow-truck company.
Posted by tiredofit on 2011-08-10:
Global Tel Link are thieves!! give them access to your bank account by using your debit card to put money on your phone line and WATCH OUT!!!!!!!!!!!They should be the inmate instead of the company providing phone service. I would be willing to bet over half of the inmates in prison for larceny combined have never stolen as much money as this company
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