”**Thames Water should be put into administration rather than “sleepwalking” into a deal that is bad for customers, according to a Hong Kong-based investor who wants to buy the business.”**
Shocking that someone who wants to buy it out wants them to go in to administration so they can get an amazing deal and buy it on the super cheap. Water is something that should never have been privatized, if they go in to administration I think the only sensible course would be for the government to take back control.
radiant_0wl on
>but want leniency from future pollution fines.
Wants de facto permission to break the law without consequence.
If it’s not viable then we should take it out of administration and prosecute anyone who committed fraud or wrongfully appropriated money by claiming rises for investment then failing to carry them out.
Edit:
Don’t agree with the corporate secrecy so just going to name lenders so it’s visible in SEO results and alike.
Invesco
Elliott Management
Silver Point Capital
diabeticoats on
Most of the population would quite like to see this.
And to nationalise it.
Logical-Leopard-1965 on
Not a word about the offshoring of dividends for years & years
Annual-Rip4687 on
Should be let to go bust, then be split up into regions, I live in Oxford and am paying for London specific projects which seems pretty unfair, when people not living in London will not get an benefit from this project.
PackageOk4947 on
Then, who foots the bill because it sure as shit won’t be the investors…
JGG5 on
Re-nationalise Thames Water. Put TW directors and executives in prison. Claw back all dividends paid to shareholders and bonuses paid to executives (with interest) and use that money to at least partially pay for the massive backlog of maintenance and infrastructure they put off in favour of lining their own pockets.
WinHour4300 on
Yeah the government should probably just let it go bust and put it into a Special Administration Regime for critical infrastructure and run it for a bit.
I don’t know if we have that for utilities but it exists for banks so the legislation would be very easy to adapt.
InternetHomunculus on
I feel like nationalising water would be extremely popular with people from nearly all walks of life I don’t get why the gov doesn’t start with Thames Water
ProtonHyrax99 on
I did a secondment there years ago.
It was a complete fucking mess.
I work in consulting, and was embedded there for 6 months. They straight up lied about the role to me. When I turned up they told me they’d actually hired someone full time for the relatively interesting position I had been promised, and instead I’d be doing data management and analysis (being the team excel monkey).
Part of the role involved remote accessing a pc running windows 98 and excel 98, which they had never upgraded, and manually copying data to my desktop.
Once I got my head around the role I realised the job didn’t need to exist, and they could hire someone to build them a proper database instead of juggling multiple excel sheets. Would take maybe 2 weeks but save them tens of thousands every year. They ignored me, and when I left they hired someone to replace me rather than changing anything.
The whole place ran on consultants being paid inflated wages (as in more than it would cost to just hire someone directly).
My team alone was 2/3rds external consultants.
The management structure was a shitshow.
At one point I had 4 different bosses.
One from my consulting company who was acting as my line manager for the secondment, a team leader who was always ridiculously stressed and looked like she was about to go postal, an external manager who never seemed to have any actual work to do, so would just wander between teams, and get in the way, and a senior manager who just turned up periodically to look important.
There were no clear lines of reporting, and it was unclear who I was meant to go to for what. I tried to sort it out, but they kept giving different answers.
The different managers would all give me different answers priorities.
Eventually I just mentally checked out and did as little as possible.
While I was there, the turnover rate was ridiculous. I’d see new faces on other teams every few weeks. The only people who didn’t seem to leave were in management.
Anyway, shitshow then, presumably still is.
Totally killed any delusion I had about “free market efficiency”.
10 commenti
”**Thames Water should be put into administration rather than “sleepwalking” into a deal that is bad for customers, according to a Hong Kong-based investor who wants to buy the business.”**
Shocking that someone who wants to buy it out wants them to go in to administration so they can get an amazing deal and buy it on the super cheap. Water is something that should never have been privatized, if they go in to administration I think the only sensible course would be for the government to take back control.
>but want leniency from future pollution fines.
Wants de facto permission to break the law without consequence.
If it’s not viable then we should take it out of administration and prosecute anyone who committed fraud or wrongfully appropriated money by claiming rises for investment then failing to carry them out.
Edit:
Don’t agree with the corporate secrecy so just going to name lenders so it’s visible in SEO results and alike.
Invesco
Elliott Management
Silver Point Capital
Most of the population would quite like to see this.
And to nationalise it.
Not a word about the offshoring of dividends for years & years
Should be let to go bust, then be split up into regions, I live in Oxford and am paying for London specific projects which seems pretty unfair, when people not living in London will not get an benefit from this project.
Then, who foots the bill because it sure as shit won’t be the investors…
Re-nationalise Thames Water. Put TW directors and executives in prison. Claw back all dividends paid to shareholders and bonuses paid to executives (with interest) and use that money to at least partially pay for the massive backlog of maintenance and infrastructure they put off in favour of lining their own pockets.
Yeah the government should probably just let it go bust and put it into a Special Administration Regime for critical infrastructure and run it for a bit.
I don’t know if we have that for utilities but it exists for banks so the legislation would be very easy to adapt.
I feel like nationalising water would be extremely popular with people from nearly all walks of life I don’t get why the gov doesn’t start with Thames Water
I did a secondment there years ago.
It was a complete fucking mess.
I work in consulting, and was embedded there for 6 months. They straight up lied about the role to me. When I turned up they told me they’d actually hired someone full time for the relatively interesting position I had been promised, and instead I’d be doing data management and analysis (being the team excel monkey).
Part of the role involved remote accessing a pc running windows 98 and excel 98, which they had never upgraded, and manually copying data to my desktop.
Once I got my head around the role I realised the job didn’t need to exist, and they could hire someone to build them a proper database instead of juggling multiple excel sheets. Would take maybe 2 weeks but save them tens of thousands every year. They ignored me, and when I left they hired someone to replace me rather than changing anything.
The whole place ran on consultants being paid inflated wages (as in more than it would cost to just hire someone directly).
My team alone was 2/3rds external consultants.
The management structure was a shitshow.
At one point I had 4 different bosses.
One from my consulting company who was acting as my line manager for the secondment, a team leader who was always ridiculously stressed and looked like she was about to go postal, an external manager who never seemed to have any actual work to do, so would just wander between teams, and get in the way, and a senior manager who just turned up periodically to look important.
There were no clear lines of reporting, and it was unclear who I was meant to go to for what. I tried to sort it out, but they kept giving different answers.
The different managers would all give me different answers priorities.
Eventually I just mentally checked out and did as little as possible.
While I was there, the turnover rate was ridiculous. I’d see new faces on other teams every few weeks. The only people who didn’t seem to leave were in management.
Anyway, shitshow then, presumably still is.
Totally killed any delusion I had about “free market efficiency”.