Thames Water

Let em go bust, the pension funds and all the other owners have squeezed it till the pips sqeak, let em see the cost of their greed now as their investment goes down the tubes and take it back into govt control free

The largest shareholder as of July 2023 is the Canadian pension fund Ontario Municipal Employees Retirement System (Omers) — about 32 per cent. Other investors include China’s biggest sovereign wealth fund, China Investment Corporation — almost 9 per cent; the UK’s biggest private pension fund, the Universities Superannuation Scheme — 20 per cent; and Infinity Investments, a subsidiary of the Abu Dhabi Investment Authority — 10 per cent.


fuk em all
 
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Salem-Hillbilly said:
Sunak getting the Government involved.
Need to let Thames Water go bust as a warning to all the other foreign owned utilities.


https://twitter.com/x/status/1771077595209019886
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Let it go bust or buy out it's shares with a UK fund when they hit rock bottom. The British public will be paying anyway for any improvements and as we have seen with the gas and electricity sector we will have to pay for account switching admin. One way or another, the taxpayer is paying, we might as well own it.

Won't happen though too many mates and posh soggy biscuit champions who can scratch each others back are at stake.
 
Wild Card said:
Let it go bust or buy out it's shares with a UK fund when they hit rock bottom. The British public will be paying anyway for any improvements and as we have seen with the gas and electricity sector we will have to pay for account switching admin. One way or another, the taxpayer is paying, we might as well own it.

Won't happen though too many mates and posh soggy biscuit champions who can scratch each others back are at stake.
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Anything that is privitised should simply be left to go bust, and the state simply creates a new framework "company" to take it over the same day.
Just like they do when the train francises are stripped/go under

Then we let the debt disappear with the failed company, and we get to sell it off again with a profit to UK PLC (or keep it public if you prefer)
 
PTR said:
Anything that is privitised should simply be left to go bust, and the state simply creates a new framework "company" to take it over the same day.
Just like they do when the train francises are stripped/go under

Then we let the debt disappear with the failed company, and we get to sell it off again with a profit to UK PLC (or keep it public if you prefer)
Click to expand...
This, and as it is an essential infrastructure owner and a regional monopoly I'd go with the "keep it public" option 👍
 
It'll be the interest on the £14.7bn debt that's the problem. That's why they're going bust. Because the banks can't get paid.

The debt needs to be restructured and partly written off. You can't have what is effectively a monopoly being forced to increase their prices to customers in order to service the bank debt.

Let them go bust, let the banks and investors restructure it and take the hit. They are the risk taking business. Not the customers of a monopoly. That's not capitalism.
 
PTR said:
Anything that is privitised should simply be left to go bust, and the state simply creates a new framework "company" to take it over the same day.
Just like they do when the train francises are stripped/go under

Then we let the debt disappear with the failed company, and we get to sell it off again with a profit to UK PLC (or keep it public if you prefer)
Click to expand...
If you privatise something it becomes a business, not a service. And if it goes bust, well that is what some businesses do.
F*ck this lot at Thames. My new water bill has gone up over £300 and I try to minimise my usage by using water butts for the garden and using only one bucketful and one watering can full when I (rarely) wash the car.
These robbing bassas have trousered many hundreds of millions in dividends and bonuses since Maggie sold it off. And pumped out rivers of shit! They have to go bust.
 
MickeyV said:
If you privatise something it becomes a business, not a service. And if it goes bust, well that is what some businesses do.
F*ck this lot at Thames. My new water bill has gone up over £300 and I try to minimise my usage by using water butts for the garden and using only one bucketful and one watering can full when I (rarely) wash the car.
These robbing bassas have trousered many hundreds of millions in dividends and bonuses since Maggie sold it off. And pumped out rivers of shit! They have to go bust.
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Ceramic coatings on cars are great - I never washed my last car in an entire year and it always looked class.
 
PTR said:
Anything that is privitised should simply be left to go bust, and the state simply creates a new framework "company" to take it over the same day.
Just like they do when the train francises are stripped/go under

Then we let the debt disappear with the failed company, and we get to sell it off again with a profit to UK PLC (or keep it public if you prefer)
Click to expand...
Mods ban this one for talking absolute sense, and I agree with everything they said
 
HellsBells said:
It'll be the interest on the £14.7bn debt that's the problem. That's why they're going bust. Because the banks can't get paid.

The debt needs to be restructured and partly written off. You can't have what is effectively a monopoly being forced to increase their prices to customers in order to service the bank debt.

Let them go bust, let the banks and investors restructure it and take the hit. They are the risk taking business. Not the customers of a monopoly. That's not capitalism.
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i dont understand how a monopoly can be allowed to borrow money to get into huge debt while still paying out billions to shareholders without putting some of that money into keeping the service maintained to an acceptable level. the service should come first then the shareholders get whats left.
but i guess its a private business and can do all of that as there's noone to stop them. ofwat are clearly of little use like most regulators these days.
 
Squat said:
i dont understand how a monopoly can be allowed to borrow money to get into huge debt while still paying out billions to shareholders without putting some of that money into keeping the service maintained to an acceptable level. the service should come first then the shareholders get whats left.
but i guess its a private business and can do all of that as there's noone to stop them. ofwat are clearly of little use like most regulators these days.
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Personally I don’t understand how a monopoly can be a profit making company. If I have no choice from whom I buy the product that I need, then the company cannot make a profit. It’s immoral and it’s against capitalist business practices. We stop monopolies as a result of mergers for a reason.
 
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