Thames Water - £13bn debt - going under

[Justin Passing]

Gove found a lot wrong in 2018, but apart from stopping the dividends to shareholders, nothing much appears to have changed.
Some time there will be a Horizon prog, to tell us about half of the machinations.

 

[fatplumber]

In charts: how privatisation drained Thames Water’s coffers

Decades of underinvestment and bumper dividends have left the firm debt-laden and under investigation

www.theguardian.com

 

[JohnD]

In charts: how privatisation drained Thames Water’s coffers

Decades of underinvestment and bumper dividends have left the firm debt-laden and under investigation

www.theguardian.com

"Over those years – as admitted by Sarah Bentley, the firm’s departing CEO – its executives and the shareholders and private equity companies who own it have presided over decades of underinvestment, aggressive cost-cutting and huge dividend payments."

That's the business model.

Deliberately loot the company, put up the costs to customers, degrade the service.

 

[ellal]

Deliberately loot the company, put up the costs to customers, degrade the service.

You missed out the bit about getting politicians elected to make sure that a blind eye is turned, and that a dumbed down electorate is made to believe nothing is wrong...

Corporate Governance!

 

[JohnD]

I'm rather pleased that the nation is at last widely aware of the damage

Now it needs to be stopped

Next it needs to be reversed

 

[JohnD]

How are the Railways doing?

 

[Mottie]

You missed out the bit about getting politicians elected to make sure that a blind eye is turned, and that a dumbed down electorate is made to believe nothing is wrong...

Corporate Governance!

Have you EVER made a positive post about ANYTHING good that happens in the UK? What a sad, tortured, uneventful, jealous, U.K. hatted filled bitter life you must lead. You even admit to hating a parent because they voted for Brexit. It’s all hate with you. Sometimes I pity you. Only sometimes.

Search results

www.diynot.com

 

[Mottie]

I'm rather pleased that the nation is at last widely aware of the damage

Now it needs to be stopped

Next it needs to be reversed

You're the man with all the answers. Why don't you go into politics instead of just sitting at home criticising the government on a DIY site all day long?

 

[gas112]

You're the man with all the answers. Why don't you go into politics instead of just sitting at home criticising the government on a DIY site all day long?

Matron won't let him out of his room unaccompanied

 

[JohnD]

Matron won't let him out of his room unaccompanied

What a remarkably adult and well-thought out post.

What do you want to be when you grow up?

 

[gas112]

What a remarkably adult and well-thought out post.

What do you want to be when you grow up?

not your carer for certain

 

[transam]

How are the Railways doing?

 

[sxturbo]

I don't believe there was ever any benefit to privatising the basic amenities.

Water, gas, electric and post office should always have stayed nationalised, there has been zero benefit them being privately owned.

Let Thames water go bust, then nationalise the assets and start a new company.

The downside is that many people's pensions are ties up in Thames water, which may be the bigger reason the government wishes to bail them out. (Though they didn't care when rover went bust)

 

[sxturbo]

Its the Tory, greedy grasping way.

Scum.

Don't kid yourself that any other political party are any better...

 

[JohnD]

Don't kid yourself that any other political party are any better...

Not all of them favour selling off public utilities to be looted as the nation's expense

Which is the point here.


The Conservative slogan for the approaching election is "vote for us, the others are just as bad"

Which is hardly a vote-winner.

But better than "Vote for the party that gave you May, Johnson and Truss! Vote for incompetence and dishonesty! Vote for more of the same!"

Or "Vote for privatised sewage!"