Thames Water nearing the cliff edge.

[Mottie]

.

A £3bn rescue package was announced yesterday.

More bad news for JohnD. He was really hoping that they would go out of business and chuck thousands on the dole queue to satisfy his schadenfreude.

 

[Odds]

.
More bad news for JohnD. He was really hoping that they would go out of business and chuck thousands on the dole queue to satisfy his schadenfreude.

I didn't know he had a dog.

 

[Mottie]

I didn't know he had a dog.

He has a mixed breed dog. Half Bulldog, half Shih-tzu. Suits him, it’s a BullShihter.

 

[Odds]

Water quality along the stretch of the River Thames which will host the iconic Oxford v Cambridge Boat Race has been classified as poor by clean water campaigners, as a result of E coli from sewage pollution. Testing carried out along the four-mile route, which the university rowing teams will tackle on Sunday, has revealed E coli levels which are three times above the threshold for poor bathing water status, reports the Guardian...

Last year the Boulter's to Bray Swim in Maidenhead was cancelled ovr safety concerns over water quality and it hasn't improved since then by all accounts...Thames Water said staff have been through "challenging times" and have been the target of verbal and physical abuse.

They should be asking what the executives are spending their bonuses on: bottled water?

 

[blup]

May have been covered elsewhere but a private equity firm had pulled out of investing in TW. There was disquiet over proposed government limitations on sham/director payouts. So politicians responding to public concerns may actually have harmed investor confidence

 

[fillyboy]

Water quality along the stretch of the River Thames which will host the iconic Oxford v Cambridge Boat Race has been classified as poor by clean water campaigners, as a result of E coli from sewage pollution. Testing carried out along the four-mile route, which the university rowing teams will tackle on Sunday, has revealed E coli levels which are three times above the threshold for poor bathing water status, reports the Guardian...

Last year the Boulter's to Bray Swim in Maidenhead was cancelled ovr safety concerns over water quality and it hasn't improved since then by all accounts...Thames Water said staff have been through "challenging times" and have been the target of verbal and physical abuse.

They should be asking what the executives are spending their bonuses on: bottled water?

C'est la vie.

How Dangerous Is the Seine for Athletes?

Experts outline what the health risks are if swimmers take to the iconic river amid questions about its cleanliness

time.com

 

[Ihavenojob]

May have been covered elsewhere but a private equity firm had pulled out of investing in TW. There was disquiet over proposed government limitations on sham/director payouts. So politicians responding to public concerns may actually have harmed investor confidence

What will probably happen is the taxpayer will take it over via the government. The taxpayer will then pump £billions into it, with the government overseeing the restructuring, using only the most expensive means possible, just to keep friends happy. Then when it's back on its feet, it can be sold off to the aforementioned friends with a very big discount. Or am I just being cynical?

 

[blup]

Pr

What will probably happen is the taxpayer will take it over via the government. The taxpayer will then pump £billions into it, with the government overseeing the restructuring, using only the most expensive means possible, just to keep friends happy. Then when it's back on its feet, it can be sold off to the aforementioned friends with a very big discount. Or am I just being cynical?

Probably not if you replace “friends” with “private sector”. It’s might be part of the private equity sector’s calculations that it will get a better return if the tax payer shoulders some of the debt for a while.

 

[aveatry]

Ok not read through all the pages but is there any reason why starmer can not say - right we are buying it for £1 and all the creditors have lost their money - in that LTD company which is no more

 

[blup]

Ok not read through all the pages but is there any reason why starmer can not say - right we are buying it for £1 and all the creditors have lost their money - in that LTD company which is no more

If you pay £1 for a white elephant, its still a white elephant. Plus confidence in the government as a prudent money manager would probably collapse in things like the bond markets. Think Trumpf and tariffs.

 

[Highway Man]

Should we doing a trade deal with a country that actively supports pootins invasion and appears to supply mercenaries

Yes why not?

 

[blup]

Yes why not?

True, we are doing a trade deal with Trumpf who is also a friend of Pootin. Maybe invite India to supply workers for TWA.

 

[JohnD]

If you pay £1 for a white elephant, its still a white elephant. Plus confidence in the government as a prudent money manager would probably collapse in things like the bond markets. Think Trumpf and tariffs.

If we're going to pay for rebuilding the company, we might as well own it, even if this means paying something for the assets we flogged off for a song. I have a feeling that in a free market auction, there might not be many bidders wanting to pay much for a collapsing water company that needs billions spent on it. The days of free rides are (should be) over.

If you buy the distressed assets of a bankrupt company you have no obligation to pay the debts incurred by its owners.

There is considerable resentment at enriching the directors and owners who have been looting the company and driving it to collapse.

 

[blup]

If we're going to pay for rebuilding the company, we might as well own it, even if this means paying something for the assets we flogged off for a song. I have a feeling that in a free market auction, there might not be many bidders wanting to pay much for a collapsing water company that needs billions spent on it. The days of free rides are (should be) over.

If you buy the distressed assets of a bankrupt company you have no obligation to pay the debts incurred by its owners.

There is considerable resentment at enriching the directors and owners who have been looting the company and driving it to collapse.

Fine if that's the going rate and the lenders can’t separately flog off the physical assets

 

[JohnD]

"UK bans bonuses at Thames Water and 5 other utilities

Ofwat’s new powers enable it to backdate veto on awards for CEOs and CFOs at poorly performing water companies"

FT.com