MBK will be along shortly, saying that such a move would prevent utility companies from hiring those with the talent to run them.
Nonsense: I could run them into the ground too, but for a far lower remuneration package
Thames Water nearing the cliff edge.
- Thread starter JohnD
- Start date
MBK will be along shortly, saying that such a move would prevent utility companies from hiring those with the talent to run them.
Nonsense: I could run them into the ground too, but for a far lower remuneration package
Tories everywhere (MBK etc) will be weeping into their G&T's, poor luvs.
Lenders vying to take over Thames Water have demanded that the struggling company and its management be granted immunity from prosecution for serious environmental crimes as a condition of acquiring it, the Guardian can reveal. Creditors want the environment secretary, Steve Reed, to grant the water company extraordinary clemency from a series of strict rules covering everything from sewage spills to failure to upgrade its water treatment works.
They argue the company is caught in a “doom loop” that prevents it from recovering and putting enough money into the network, but they sound like one of those banks who claim they're 'too big to fail' and want the taxpayer to pay extra for their incompetence..
**** 'em.
They argue the company is caught in a “doom loop” that prevents it from recovering and putting enough money into the network, but they sound like one of those banks who claim they're 'too big to fail' and want the taxpayer to pay extra for their incompetence..
**** 'em.
F that.
"Thames Water expresses doubt it can avoid temporary nationalisation
Embattled utility sinks to £1.65bn loss for the year"
FT.com
Who could have seen that coming?
(Apart from "temporary")
"Maxine Kelly and Euan Healy in London
Published2 HOURS AGO
Thames Water has expressed doubt about its ability to avoid temporary nationalisation, as the heavily indebted utility sank to a £1.65bn loss for the year.
Thames, which has been battling to secure new investment from a group of creditors, said in a statement on Tuesday that “there exists a material uncertainty as to whether the Group and the Company will be able to deliver a recapitalisation transaction”.
It added that if it failed to do so it would need to “consider all options” but that a possible consequence would be “special administration”, a form of nationalisation.
The UK’s largest water utility — which provides water and sewage services to about a quarter of the UK population — is struggling under a near-£20bn debt mountain and is working towards a backup £5bn rescue plan with its creditors. "
Embattled utility sinks to £1.65bn loss for the year"
FT.com
Who could have seen that coming?
(Apart from "temporary")
"Maxine Kelly and Euan Healy in London
Published2 HOURS AGO
Thames Water has expressed doubt about its ability to avoid temporary nationalisation, as the heavily indebted utility sank to a £1.65bn loss for the year.
Thames, which has been battling to secure new investment from a group of creditors, said in a statement on Tuesday that “there exists a material uncertainty as to whether the Group and the Company will be able to deliver a recapitalisation transaction”.
It added that if it failed to do so it would need to “consider all options” but that a possible consequence would be “special administration”, a form of nationalisation.
The UK’s largest water utility — which provides water and sewage services to about a quarter of the UK population — is struggling under a near-£20bn debt mountain and is working towards a backup £5bn rescue plan with its creditors. "
The basics we need to live and function should never be in the hands of private companies, end of. Water. Energy. Transport.
And it goes further. Watched a clip yesterday about care provision, didn't see enough of it to say what area of care was being referenced. However the piece finished with someone saying the sector was privatised years back, the rationale being it would create competition, better services and reduce cost. The assertion was the opposite has happened, yes the competition might be there in a business sense, however the quality of services has dropped and costs have increased in real terms.
Like many things, we seem to discuss discuss discuss without simply admitting, it ain't working!
And it goes further. Watched a clip yesterday about care provision, didn't see enough of it to say what area of care was being referenced. However the piece finished with someone saying the sector was privatised years back, the rationale being it would create competition, better services and reduce cost. The assertion was the opposite has happened, yes the competition might be there in a business sense, however the quality of services has dropped and costs have increased in real terms.
Like many things, we seem to discuss discuss discuss without simply admitting, it ain't working!
Are we any nearer this mythical cliff edge yet?
Good to see the private sector is delivering on the promises made during the run up to privatisation in the 90’s. The myth that only the private sector could bring in the investment to end leaks. Instead it became a milch cow for investors who make money from debt
It's like when referring to rail, people say 'do you remember BR in the 70s and 80s?!?' The assertion being nationalised rail would once again be an absolute disaster.
Because privately run rail services have of course been a complete success
Better services, lower prices.The cliff will disappear when Rach increases taxes to pay for re nationalisation (and people blame her for mishandling the economy). Re form will get elected and nige will privatise the nhs, making the Thames water affair seem like small fry
If they do attempt this in the true sense of the word and it comes to fruition, I reckon they'll be out as quickly as they're in, assuming they win in 2029 that is.
Nearer? Havent you heard? They are rock bottom. Billions in debt and begging the government for a bail out.
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They’re still taking my shìt away at the moment. That’s all I’m bothered about.
D
