Thames water bankrupt

[Polarbear]

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

[CaNsA]

The reason the water network still needs 2.5 billion quid of investment is because they have only been spending just less than the bare minimum to ensure people have water in their homes.

As long as profits keep increasing, they don't give a shit about the service.

Same with any former publicly owned entity.
Rail, water, mail etc.

Tories will lose the next election.
The weird Starmer club will moonwalk into the room
Spend all the money buying back all the failing services and bring them back up to an acceptable standard.
Then just like last time, the country will be broke again and the tories will moonwalk back in.

Rinse and repeat.

[Easy-X]

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

[CaNsA]

It'll still cost 2.5bill to get it up to standard.

[stinkwheel]

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.

[Easy-X]

[WD Forte]

Investing is a type of gambling
why should tax payers bail out folk who've effectively lost money on the gee gees?
____________________
bikers smell of wee

[rpsmith79]

[Bloggsy]

[Ste]

[MCN]

Maybe claw back monies paid to thier greedibastirt zectutives and slave traders (share holders).
These fuks are never in it for the common good.
____________________
Disclaimer: The comments above may be predicted text and not necessarily the opinion of MCN.

[stinkwheel]

[Nobby the Bastard]

[Kawasaki Jimbo]

[MCN]

[Easy-X]

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