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Polarbear |
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Polarbear Super Spammer
Joined: 24 Feb 2007 Karma :
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Posted: 00:08 - 13 Dec 2023 Post subject: Thames water bankrupt |
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Thames Water says it can't pay back £190m loan
https://www.bbc.co.uk/news/business-67696645
Committee member Barry Gardiner said that amounted to Thames having the regulator "by the short and curlies" - suggesting that if Ofwat did not agree to the rise, it would essentially trigger a quasi-nationalisation that would cost the taxpayer billions.
Why? Why would it? The gov just take over, fuck off all shareholders and just start again. Just wipe all debts.
Or is that not a viable option.? ____________________ Triumph Trophy Launch Edition |
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CaNsA |
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CaNsA Super Spammer
Joined: 02 Jan 2008 Karma :
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Easy-X |
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Easy-X Super Spammer
Joined: 08 Mar 2019 Karma :
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Posted: 02:28 - 13 Dec 2023 Post subject: |
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Water is an absolutely daft thing to run privately. If the service is shit the customer has no option to take their business elsewhere.
I'm not sure water should be nationalised, something like shared ownership between local councils maybe ____________________ Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter |
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CaNsA |
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CaNsA Super Spammer
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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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Posted: 09:08 - 13 Dec 2023 Post subject: |
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Regardless of the cost, they should be allowed to go bust, the shareholders should lose their money and the management should lose their jobs.
If they can't find a private buyer for the remaining business then the government should step in to do a deal with the liquidator to retain the assets (including the workforce), purchase the business for a peppercorn and the creditors can fight over their however many pennies in the pound those are worth. The gravy train just reached the end of the line. ____________________ “Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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Easy-X |
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Easy-X Super Spammer
Joined: 08 Mar 2019 Karma :
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WD Forte |
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WD Forte World Chat Champion
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rpsmith79 |
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rpsmith79 World Chat Champion
Joined: 31 Jan 2017 Karma :
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Bloggsy |
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Bloggsy Spanner Monkey
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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MCN |
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MCN Super Spammer
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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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Posted: 18:40 - 13 Dec 2023 Post subject: |
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rpsmith79 wrote: |
By that token, so are pension pots, as the money in everyones private/work pensions will be invested in compaines like this, that were once considered a "safe bet"
So if Thames were to go bust, it could affect a hell of a lot of peoples pensions pots, not just private investors |
And it's the job of the pension funds to invest wisely and over a wide portfolio. Once you start state intervention for this reason, where do you stop?
If pension funds are finding themselves overexposed with Thames water shares, it's 100% self inflicted, it's been circling the drain for a while now. ____________________ “Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
Joined: 16 Aug 2013 Karma :
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Kawasaki Jimbo |
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Kawasaki Jimbo World Chat Champion
Joined: 09 Oct 2015 Karma :
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MCN |
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MCN Super Spammer
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Easy-X |
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Easy-X Super Spammer
Joined: 08 Mar 2019 Karma :
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Posted: 10:17 - 14 Dec 2023 Post subject: |
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How do you define success? Money is the only universal and objective metric we have, the Market the largest organic computational system the human race has invented.
But for the system to work you need things like supply and demand and competition. Yes, people need water but that need is mostly dictated by geography. Past a certain point you cannot get more done with a free/limitless/clean supply of water, unlike energy.
Thames Water makes/made money, it's a metric, what was that metric showing us? Only that they were a successful parasite but parasitism only works up to the point the host reacts and kills the parasite. ____________________ Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter |
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