plan for collapse of Thames Water
- Thread starter Mrwong
- Start date
Average, is not a good indicator, or a good representation, it is use to confuse people.
Average measurement is bull poo.
When you use average to fill in null values in data sets, is give outs untrue patterns and really should be never used.
Soldato
TBF GDP isn’t either for service dominated economies but that’s a discussion for another day.
Soldato
- Joined
- 11 Sep 2013
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- 12,432
The Tories privatised it in order to raise the funds (£430bn in today's money) needed to improve water quality and raise it back to minimum legal standard. The standards had dropped so low that the UK was prosecuted by the European Court. This drop in quality happened under the Labour governments of Wilson and Callaghan and was inherited by Thatcher. Generally when the Tories had been in power, the industry had been profitable and relatively well-run. Every time Labour had come in, it dropped.
Labour came up with the ideas of consolidating undertakers into the ten regional authorities, but it was implemented under Tory leadership.
How much money would *you* command, to step in and take personal responsibility for sorting out the absolute ******* **** storm left behind when the previous CEO cut & run?
That's generally what each new bod has been faced with, following the likes of David Evans, Martin Baggs and Steve Robertson. Sarah Bentley was on comparatively low pay.
Storm drainage is a misleading term, as it also includes things like surface water and ground water infiltration, as well as the run-off from all the paved driveways and poorly maintained highway drainage, massively increased housing development and the heightened water use during hot weather (not that anyone would ever breach a hosepipe ban) - Much of this has vastly increased since the surface sewers were initially designed for the calculated population in the catchment area.
Most sewage overflows into waterways occur because the sewers are blocked. They're blocked from customers flushing all the things they know they're not supposed to - Fat, oil, grease, food, newspaper, cement, nappies, guns, drugs, body parts, matresses, food wrappers, etc.
200 occurences may sound ridiculous (and it is), but a good number of those separate occurences will result from the one blockage incident and TW crews are already clearing about 150 blockages per day.
The only negligent part is that the company refuses to blame customers for ******* the pipes up in the first place, because it's "not the done thing".
Corbyn reckoned he could force-purchase them for 30% of market value.... Given that it was Labour's failure to invest which led to privatisation becoming necessary, none of us have been keen on renationalisation under Red leadership.
The problem is that the regulator gets to decide how much they are allowed to invest.
For the current AMP, TW wanted to invest £16 billion. Ofwat restricted that to £3bn. A revision saw them request £12bn and Ofwat allowed £4bn.
TWUL was purchased by German RWE in the late 90s, who mortgaged it to the hilt and began the first round of asset-stripping. Then Macquaries bought it and further stripped it, while going so far as to mortgage everything even to holes in the ground. Things like acquisition debt being passed to the company only exacerbated the overall debt.
I had no idea drapery was such a profitable industry...
British pension funds too:
Our governance | Governance and Legal | About Us | Thames Water
Learn more about our ownership structure, external shareholders and where to find the Company's Articles of Association.
www.thameswater.co.uk
Running the company isn't the problem - The previous CEO, Steve Roberts, was kicked out by the shareholders and lenders because he tried to rock the boat and make changes that would have impacted their profits and the Executive bonuses. If you want someone to blame, look at the companies that own TW and those that control the interest rates of their loans.
Given that Labour started us down this path, I'd rather we either stayed with the Blues or got some other government in to take over.
Soldato
I agree. These people need to pull themselves together.
I’ve been told that the way the debt is set up, if they fail, the government takes on the debt 
Basically, the Tories have set it up so people can asset strip the water company, take out loans, pay themselves the loan money, then leave the company the fail and have the government pick up the failure, meanwhile the owners who have fled keep the banks money the company borrowed, some of which they will give to the politicians. Paid for by the British tax payer.
Hilarious.
Basically, the Tories have set it up so people can asset strip the water company, take out loans, pay themselves the loan money, then leave the company the fail and have the government pick up the failure, meanwhile the owners who have fled keep the banks money the company borrowed, some of which they will give to the politicians. Paid for by the British tax payer.
Hilarious.
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Soldato
Trans 'struggling mum' used in ITV's Thames Water crisis coverage
EXCLUSIVE: During Wednesday night's News At Ten programme the network, Mika Minio Paluello was seen washing up and doing some laundry while she spoke about water costs.
On a lighter note, The Daily Mail and its readers are absoluetely insane. An editor must be friends with someone within Thames to try and discredit it this hard lol.
Transgender baiting: check
Labour: check
Corbyn: check
Leftie: check
Unions: check
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FTFY
There's plans afoot for all the water companies to increase bills for all of us by (as reported) 40%. Possibly more...
@ttaskmaster Unironically blaming Labour and customers for the abysmal state of the water industry.
Suggesting that the Tories are the party most likely to fix it.
Priceless. Thanks for the laugh.
Suggesting that the Tories are the party most likely to fix it.
Priceless. Thanks for the laugh.
It's dead easy, I've done it several times. Get a job with a relocation package and then move, can be gone in a matter of weeks, all taken care of.
Caporegime
I hope Thames water tax payers will be paying for this.
Soldato
Do you have an example of where you would find a job like this? And did you only go to English speaking countries?
Did you take into account selling up, buying a smaller place, and buying in destination country?
What about capital requirements, visa rules etc....
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they are all in the same circle.Trans 'struggling mum' used in ITV's Thames Water crisis coverage
EXCLUSIVE: During Wednesday night's News At Ten programme the network, Mika Minio Paluello was seen washing up and doing some laundry while she spoke about water costs.www.dailymail.co.uk
On a lighter note, The Daily Mail and its readers are absoluetely insane. An editor must be friends with someone within Thames to try and discredit it this hard lol.
Transgender baiting: check
Labour: check
Corbyn: check
Leftie: check
Unions: check
Soldato
- Joined
- 11 Sep 2013
- Posts
- 12,432
Try re-reading the post.
Customers are creating the primary issues that result in river overflows.
Labour created the situations that led to privatisation. They also maintained trade effluent discharge into waterways, until that was countermanded in 1973 under Tory leadership.
The Tories did well enough during the 90s to make the privatisation a success, because they facilitated the revenue to fund it. However, they lost their place once control of the industry went to foreign powers and neither party has done anything helpful since.
Since no other party is ever likely to gain power, of the remaining two options Tories are theoretically the lesser evil, but neither party now has what it takes to resolve the issues.
I also doubt you'll find a single MP with the sense, the spine and the stones to take the helm and steer this industry to where it should be - Publicly owned and controlled, privately funded and operated, with regulators that actually do their ******* jobs.
UK regulators are pretty crap.
The thing is it is all BS financing engineering. The regulated business is 5 clicks down from the owner/investors.
Because this statement in itself is an absolute oxymoron lol.
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yup, it's the labour government of 60 years ago's fault, the Tories didn't do nuttin. maybe that tripe worked in the 80s, but you've had 40 years to come up with something new, maybe blame the Romans or that pesky William the conqueror.
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Can you cite an example of this kind of arrangement? Or just explain how it would work?