plan for collapse of Thames Water

darkgen said:
Beyond words.

Hardly Thames water customers fault is it?

Complete unsurprising shambles as always under the Conservatives watch (and initiation during the 80's).
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It was sarcasm... Hence the very sarcastic rolleyes at the end :rolleyes:


Edit - I'll add to this.

Will places like Wales and Scotland, who are either non-profit run or government run, be asked to foot the bill for failure of the way other parts of the UK run their essential service of water?
 
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Hagar said:
The private sector pays for all you public sector types and keeps you in a job. I have always worked in the private sector in well regarded and organised companies.
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And a lot of the major private sector businesses leech off the public sector.

We're well beyond this simplistic sort of nonsense of "private sector good, public sector bad".
 
Hagar said:
Tell @Sankari. Classing the private sector as the epitome of greed is not helpful even if in this instance it may have some truth.
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Because they have sticky fingers, and most of those associated have influenced the crappy mps of our country for 30 years plus.
 
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Uther said:
We don't mind paying for it all though right? Right...
Privatised profits, nationalised losses. What a load of ********.
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That's how they become wealthy at the expense of everyone.
I also think it strange that everything is coming about since we left the EU.

I guess it is the best time to come clean.
 
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darkgen said:
As a private company, let it fail. Write the debt off and to hell with the shareholders and hedge funds; it was an investment, not a guarantee and the risks of such should be realised and accepted. Take it back in to public ownership and allow the screw-up cycle to reset.
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That would be nice but no doubt the taxpayer will be picking up the bill again. Maybe they could add it all to a water standing charge or something... :rolleyes:
How something essential like water could ever be sold off to a private company is just LOL, and sums up the absolute **** state this country is in.
 
Hagar said:
The private sector pays for all you public sector types and keeps you in a job. I have always worked in the private sector in well regarded and organised companies.
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I haven't worked in the public sector since 2004. I've been in the private sector ever since. So I'm not a 'public sector type' at all. I just wish the private sector would stop forcing its losses onto the taxpayer in the form of government bailouts while simultaneously insisting that the government should stay out of the private sector.

The private sector has done a great deal of good, but it has also been allowed to unfairly reap the benefits of government subsidies while consistently failing upwards. I am sick and tired of bailing out an industry sector that insists it does everything better than the government but always comes begging to the government whenever it screws up.
 
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In thoery, the government shouldn’t be taking on the debt if they go bust. That’s ultimately the risk of being a creditor and why you get a return for it.

That said, how the hell did they manage to get into so much debt when their business has a very consistent income from a literal monopoly.
 
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This is why nationalised services like this are such a *""""* con.

The bosses and owners know they can't lose, as they know the government will have to bail them out. Same story with the banks etc.
 
Jono8 said:
This is why nationalised services like this are such a *""""* con.

The bosses and owners know they can't lose, as they know the government will have to bail them out. Same story with the banks etc.
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No, the shareholders lose everything if the government takes over the company.

The problem with banks is also the executives, not the company itself.

Just extract money in salary/bonuses while making it look normal as you can, rinse and repeat.
 
Interesting, I cannot find a single story about this Thames debacle on the BBC News website.

e: framed somewhat differently, relating to sewage and not financial woes - link.
 
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