Read this and tell me why we shouldn't let these greedy bastards go bankrupt. westenglandbylines.co.uk/region/was-t... - ThreadSky

brianmoore666.bsky.social • 193 days ago

Read this and tell me why we shouldn't let these greedy bastards go bankrupt.

https://westenglandbylines.co.uk/region/was-there-ever-shareholder-support-for-thames-water/

Comments

stewtoon.bsky.social•193 days ago

On a wider point, I can't think of one privatisation that has benefited the consumer. Another Thatcher disaster.
My goodness many of her policies are still causing real problems for our country.

plasticscouser.bsky.social•193 days ago

I am with you Brian. Privatisation has failed and consumers are paying the price. Also the regulators are clearly not fit for purpose and must be got rid of

blobby-mcblobfish.bsky.social•193 days ago

We were promised investment and cheaper prices, what we were given were monopolies with a licence to print money for themselves while running up debts.

alanrprice.bsky.social•193 days ago

Let it go pop and sell the business and assets? Would the government buy it from the administrators, who have a duty to get the best price they can? I don't know. It's a toxic, tainted brand, that needs billions investing in its crumbling infrastructure. Who would foot that bill? The taxpayer?

caughtinthespin.bsky.social•193 days ago

They must be allowed to go bankrupt so that the government can renationalise Thames Water et al as it occurs. Only can this mess be sorted out

michellemallin.bsky.social•193 days ago

Water should never have been allowed to be privatised. I’m in Scotland. My late gran took to the streets to “Save Our Water”. I’m grateful she and others did.

davyboy72.bsky.social•193 days ago

Never before has one company summed up the poisonous legacy of Thatcherism so succinctly.

pete-shaw.bsky.social•193 days ago

Speed the process up by making the regulator do its job and fine the bastards into bankruptcy

smithersjones.bsky.social•193 days ago

Because that would be letting them off too lightly?

paulbarbour.bsky.social•193 days ago

If thew price of the equity keep dropping, the Govt can buy it back for a song, and then turn it into a Public Benefit Company. Stand-alone from political interference, professionally managed, with a mandate to invest and support customers rather than maximize profit.

twinklyr.bsky.social•193 days ago

I participated in a market research session for Thames Water when I lived in their area, maybe 7 years ago. Was paid £170 (as were the other 20 odd people in my group, and several other groups) to let them know that we wouldn't accept our bills doubling. They've been planning this for years.

mikebird.bsky.social•193 days ago

It’s a pondzi scheme.

toulousetom.bsky.social•193 days ago

I suspect that's what the board have planned. Load up the debt, cash in the options, run it aground on the shoals of bankruptcy and bugger off rich as he'll, let the government clear the mess.

djm17.bsky.social•193 days ago

The point I made some months ago was that if they go bankrupt nationalising them will not cost as much as it would if they weren’t bankrupt. So let them crash and burn then take them into public ownership.

speedtwin.bsky.social•193 days ago

It’s the shareholders, but in these large industries it’s also the executives ripping us off. A merry-go round of sitting on each others’ remuneration committees, declaring that they’re only paying the market rate for such “talent”. Very little talent at all, because it’s not a meritocracy. (1/2)

speedtwin.bsky.social•193 days ago

We can obviously think, for example, that Ronaldo’s pay seems obscene, but it does have one thing going for it that you can’t say about these execs: you can’t actually blag being good at sport and just keep failing upwards, getting jobs because your mates say you’re good.

johnkb.bsky.social•193 days ago

They should and the government mustn’t step in to save them

athanklesstask.bsky.social•193 days ago

Countdown to "buuu-bu-buuut pension funds!"

Quite how investors thought returns greater than their investment (or lack thereof) in perpetuity was feasible, or supportive of long term health to the business is a bit beyond me. Very... err... ponzi'ish.

marcussucram1.bsky.social•193 days ago

I'm in their area...I think I will give up tap water than pay a massive increase...

jefedemaquinas.bsky.social•193 days ago

Unfortunately they would then be bought up by some more greedy bastards for a song and carry on the theft. After all it is a captive audience of customers.
Water and Electricity should NEVER be in private hands.

jonnyb69.bsky.social•193 days ago

Shareholders need to prop up the company using the money they have taken out previously. Being a shareholder works both ways (and yes I know shareholders will have changed over the years but the last one holding shares is "it")

msjonestoyou.bsky.social•193 days ago

They are the worst and should be let to rot

mingeflaps.bsky.social•193 days ago

But Brian, won't someone think about the shareholders. Some of them might only be able to afford 90 cases of champagne this Christmas instead of 100. You'd have to be very cold-hearted not to weep for them.

nigel43.bsky.social•193 days ago

The sooner they go bankrupt the better. No compensation for shareholders either.

machenwir.bsky.social•193 days ago

100%

Apparently they need the high salaries and bonuses to attract talent. Well I’m available for hire, in fact I’m fucking brilliant. Granted I know fuck all about running a water company but that doesn’t appear to be a barrier. So what are they waiting for?

avislafin.bsky.social•193 days ago

No need to read it - the government should declare a state of emergency and take control without any immediate compensation

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