As long as this administration process does not result in government paying Thames Water debt, getting utilities back under UK control sounds fine.
The shareholders and bond holders knew the risks of the business they were getting in to.
Are the pension fund obligations underwritten by the government anyway?
Marcuse0 on
Ofwat has found its balls. Rightly so, it *should* fall on managers and shareholders to fill this gap. They can’t just steal the money meant for the pension fund, then charge more to consumers who have done nothing wrong to fill it. When they learn companies exist to provide a service, not as their own personal piggy bank, then they can change prices.
Or better yet, they should just be nationalised and it run for non-profit service provision.
andymaclean19 on
Nationalise it. It is difficult to see how even a bad government would do a worse job than they have.
sortofhappyish on
WAY WAY more than ‘a shortfall’. the entire fund is gone. vault’s empty. Nothing to see here, please go in that corner and die.
When they find out the shareholders have illegally stolen the entire pension fund. it’s Robert Maxwell 2024!
sortofhappyish on
Wait til people ALSO find out they just paid even MORE secret ‘dividends’ and gigantic ‘performance’ bonuses WITHOUT TELLING THE INVESTIGATORS.
Passports are ready, and bosses of Thames water gonna flee for anywhere without an extradition treaty.
MoaningTablespoon on
Nice, let them go bankrupt and buy them back for peanuts
6 Comments
As long as this administration process does not result in government paying Thames Water debt, getting utilities back under UK control sounds fine.
The shareholders and bond holders knew the risks of the business they were getting in to.
Are the pension fund obligations underwritten by the government anyway?
Ofwat has found its balls. Rightly so, it *should* fall on managers and shareholders to fill this gap. They can’t just steal the money meant for the pension fund, then charge more to consumers who have done nothing wrong to fill it. When they learn companies exist to provide a service, not as their own personal piggy bank, then they can change prices.
Or better yet, they should just be nationalised and it run for non-profit service provision.
Nationalise it. It is difficult to see how even a bad government would do a worse job than they have.
WAY WAY more than ‘a shortfall’. the entire fund is gone. vault’s empty. Nothing to see here, please go in that corner and die.
When they find out the shareholders have illegally stolen the entire pension fund. it’s Robert Maxwell 2024!
Wait til people ALSO find out they just paid even MORE secret ‘dividends’ and gigantic ‘performance’ bonuses WITHOUT TELLING THE INVESTIGATORS.
Passports are ready, and bosses of Thames water gonna flee for anywhere without an extradition treaty.
Nice, let them go bankrupt and buy them back for peanuts