plan for collapse of Thames Water

[jpaul]

govt really needs to be reviewing both ofwat and ofgen quango's and whether fit for purpose - arguably responsible for lack of monitoring & accountability for sewage situation, standing charge for low/needy users etc.

despite all furore about dividends - if you look at data £290M dividend in a 19Bn company 1.5%, compared to National grid 5%, sainsbury 5% : LOL

 

[ttaskmaster]

If they can't raise funds to continue the business then go bankrupt and let the state seize all the assets
assets the state mainly built and paid for anyway

OK, and then what......?
What will a water industry run by the current/recent governments actually look like, do you think?

 

[Diddums]

OK, and then what......?
What will a water industry run by the current/recent governments actually look like, do you think?

bit wet prolly

 

[arknor]

What will a water industry run by the current/recent governments actually look like, do you think?

probably what it looks like now.


how about the government starts suing the company for the damage foreign investors have done to our rivers and seas? we can arrest people who dump a few clipings from their garden in some woods, but dump raw sewage all day long totally fine.
its run like this because we have a weak wef government that lets them get away with it..
we are so weak please come here and ruin our country, we desperately need your pension funds money, please abuse us.

lock every board member up already


what a weak pathetic country we have, it's worse than dumping a few asbestos boards in a forest somewhere....


we wouldn't be allowed to go take a dump in a river, but they can because they have the monies

 

[b0rn2sk8]

If that were to happen, the government would have to sue themselves because the regulator is just as culpable for the current situation as anyone else.

I’d fully expect the water companies to counter sue the government for that reason.

 

[smilertoo]

Let it collapse then take it over; Then investigate management pay and bonuses.

 

[b0rn2sk8]

for what reason? It’s not unlawful to pay staff bonuses, it’s a civil agreement between them and their employer per their contract.

If they met the criteria for their bonus, it’s paid. Thats all there is to it.

 

[wildman]

for what reason? It’s not unlawful to pay staff bonuses, it’s a civil agreement between them and their employer per their contract.

If they met the criteria for their bonus, it’s paid. Thats all there is to it.

the criteria of their bonus payments must have been

"do you breathe"
"Yes"
"here is a fat bonus, thank you, please call again"

I am guessing there are no clauses in there about dumping millions of turds into UK rivers and seas as being bad.................... unless their bonus was calculated based on the volume of turds they could and did dump.

 

[ttaskmaster]

how about the government starts suing the company for the damage foreign investors have done to our rivers and seas?

If you want to target those responsible, dig up the Victorian architects who designed it that way and sue them.
Then sue the 18 million customers who put stupid stuff (nappies, fat. cement, etc) down the sewers, blocking them and causing them to spill out of the purpose-designed CSOs.

Let it collapse then take it over; Then investigate management pay and bonuses.

You'll find them generally underpaid for the role and responsibility compared to their counterparts in other industries, as well as not actually being directly responsible for the decisions made.

 

[arknor]

If you want to target those responsible, dig up the Victorian architects who designed it that way and sue them.

yea its the victorians fault water companies only do dividends and not investment

for what reason? It’s not unlawful to pay staff bonuses, it’s a civil agreement between them and their employer per their contract.

it should be unlawful when they are running it into the ground and never investing... just parasites not "investors" they don't invest in the business,.

they invest in a slip of paper, none on the money they invest ever sees the business. it's not investing it's leeching.


it should be banned for any pension funds etc from foreign countries to own any of our stuff.

but we are a weak American state, not a sovereign nation

 

[b0rn2sk8]

yea its the victorians fault water companies only do dividends and not investment

This has already been shown to be demonstrably false in the last few days in this thread.

it should be unlawful when they are running it into the ground and never investing... just parasites not "investors" they don't invest in the business,.

Investment in the business is regulated by the regulator. They can only invest the amounts Ofwat let them.

they invest in a slip of paper, none on the money they invest ever sees the business. it's not investing it's leeching.

See above.

it should be banned for any pension funds etc from foreign countries to own any of our stuff.

Thats not how publicly listed companies work, anywhere.

but we are a weak American state, not a sovereign nation

No. Please stop embarrassing yourself.

 

[arknor]

Investment in the business is regulated by the regulator. They can only invest the amounts Ofwat let them.

They only invest profits or as loans against assets , it's not real investment

Thats not how publicly listed companies work, anywhere.

but it is... there's plenty of countries where you can't own a business or a property unless you live there.

 

[oggiet]

Let it collapse then take it over; Then investigate management pay and bonuses.

Exactly. Let those investors loose the lot.

 

[StriderX]

I think it's pretty obvious from JRM's comments about this that the Tories expected these privatisations to fail purely so they could make bets on it failing...

 

[b0rn2sk8]

They only invest profits or as loans against assets , it's not real investment

That makes zero sense.

but it is... there's plenty of countries where you can't own a business or a property unless you live there.

Actually no. Nothing after the … is relevant to a listed company.


I get it you’ve been told to be angry by the press but you are just repeating dog whistle nonsense lines and you’re angry for the wrong reasons.

 

[jpaul]

you let it collapse and investors loose their shirt , the investors on the other companies become a bit paranoid trying to limit their liabilities, house of cards.

Ofwat - the real bogeyman.

Labour should bring Lord Feargal onboard , he's got other skills too.

 

[jpaul]

need a big investment like the Seine, if we believe that is really clean

Despite a 1.4 billion Euro (1.5 billion USD) clean-up plan for the Seine, where swimming has been illegal for more than 100 years due to pollution levels, concerns remain over the river’s suitability for swimming events.

crikey - the Olympic surfing even is in tahiti ... the swimmers would have had a great time there

 

[jpaul]

from r4 this am seems we need the Cambridge Cam nominated as a bathing spot at which point you get regular testing

River Wye closed for bathers due to lethal bacteria in water - Herald.Wales

A STRETCH of the river Wye just upstream from Herefordshire that was designated a bathing water only last month has had to close to swimmers due to potentially lethal bugs in the water.

www.herald.wales

radio report said they genuinely don't know why it has shown recent increase

A STRETCH of the river Wye just upstream from Herefordshire that was designated a bathing water only last month has had to close to swimmers due to potentially lethal bugs in the water.

Friends of the River Wye campaigners had put pressure on Natural Resources Wales (NRW) to give the designation to The Warren, just west of Hay-on-Wye, a popular bathing spot.

A consequence of this, a first for river waters in Wales, is that the quality of the bathing water must be tested regularly between May and September for pollutants.

But the first of these tests, taken on July 10, revealed high levels of bacteria, with levels of Enterococcus and E. coli respectively at levels of more than five and seven times the safe limit for bathing.

Both are potential pathogens which can cause a range of stomach diseases.

Sadiq dastardly Thames plan to increase council/water rates with a per square/m charge for non-permeable paved drives is an interesting one.

 

[200sols]

with a per square/m charge for non-permeable paved drives is an interesting one.

Not heard that but it sounds good. Perhaps they should do the same for gardens. Eco taxes.

 

[darkgen]

Unsure if others are signed up to the WeOwnIt website but this popped through my email today and it appears Thames is asking ofwat to set aside the proposed fine based on Thames assertion it can be set aside as they implement mitigation activities. There is a consultation open for customers to offer their opinion on wiping this financial penalty.

While I'm not on board fully with the language used in the WeOwnIt template response to that consultation; I suspect this is needed to convey the strength of feeling, especially to waive the penalty against Thames for the state of sewage / waste dumping into waterways etc.