https://www.bbc.co.uk/news/articles/cqjvg2rdr2eo
created by Mein_Bergkamp on 03/02/2025 at 07:07 UTC
133 upvotes, 23 top-level comments (showing 23)
Comment by TheLyam at 03/02/2025 at 07:16 UTC
328 upvotes, 2 direct replies
Here's hoping they lose. Natural monopolies should be in public ownership.
35% above inflation if ridiculous nevermind the 56% they wanted.
They have proved how irresponsible they are by handing out money to the shareholders instead of reinvesting.
Comment by fresh2112 at 03/02/2025 at 07:23 UTC
133 upvotes, 3 direct replies
Can their investors not help out? Or are they exempt cos they made their money???
Comment by squeakybeak at 03/02/2025 at 08:32 UTC
74 upvotes, 2 direct replies
Maybe ask the owners (shareholders) first? Why should the public bail out a privately owned company?
Comment by socratic-meth at 03/02/2025 at 07:28 UTC
107 upvotes, 1 direct replies
The Thames fiasco is a combination of poor historical regulation, greedy shareholders, climate change and management failure. Its debt pile is currently about £17bn.
What a brilliant idea it was to privatise an industry in which there is no competition. Really fucked over future generations so her mates could make a few quid.
Comment by WillowTreeBark at 03/02/2025 at 07:39 UTC
48 upvotes, 1 direct replies
TW interviewed a project manager. He was rejected. That same person interviewed with Mott Macdonald as a consultant project manager and was accepted. That person was assigned to TW, to the same person who rejected them initially. Only now they are paying £800+ a day to Mott Mac instead of paying a £50K FTE Salary.
Genius.
Comment by PhreakyPanda at 03/02/2025 at 09:51 UTC
1 upvotes, 3 direct replies
Dont give them a penny. Bankrupt them, buy them for next to nothing and integrate into a national service.
Comment by PerceptionGreat2439 at 03/02/2025 at 08:06 UTC
19 upvotes, 0 direct replies
Same fiasco when the Lloyds names were called on to pay up. They all hid behind solicitors and claimed they shouldn't be liable.
They want the profit without the risk.
Comment by Unintelligiblenoise_ at 03/02/2025 at 11:07 UTC
1 upvotes, 0 direct replies
So bonuses for bosses, higher bills for customers but no money ? Something stinks here
Comment by TheBBP at 03/02/2025 at 13:05 UTC
1 upvotes, 0 direct replies
If they need emergency government cash, why are they paying massive bonuses and dividends?
https://www.bbc.co.uk/news/articles/cd75nqwdpj7o
Comment by ben_jam_in_short at 03/02/2025 at 09:45 UTC
1 upvotes, 0 direct replies
They can't even sell something that humans need to stay alive without making a profit lol. In the sea.
Comment by Possible-Pin-8280 at 03/02/2025 at 10:13 UTC
1 upvotes, 0 direct replies
Emergency cash to pay off convoluted loan arrangements, just bin the whole organisation.
Comment by OverFjell at 03/02/2025 at 13:05 UTC
1 upvotes, 0 direct replies
I believe the Scots have an excellent phrase for such an occasion.
Get tae fuck
Comment by ThePolymath1993 at 03/02/2025 at 12:34 UTC
1 upvotes, 1 direct replies
We shouldn't be handing out more taxpayers' money to a private company that has a history of stealing taxpayers' money.
We can't renationalise them without taking on the stupid debt pile they racked up giving dividends to their shareholders.
Let them go bankrupt and fold, let private businesses and private shareholders sort servicing their own debts and insolvency by themselves. Then we bring the infrastructure back under public control.
And then let this be a lesson to any other privately owned company the government handed a monopoly to. We're not socialising your losses. Run your businesses properly or we'll socialise you completely.
Comment by luttman23 at 03/02/2025 at 14:22 UTC
1 upvotes, 0 direct replies
You have to be kidding! The water companies have been fined by the government, then the water companies raised their prices so that we're paying their fines, now they're asking for a handout? Please tell me I'm wrong, please
Comment by colin_staples at 03/02/2025 at 12:35 UTC
1 upvotes, 0 direct replies
Failure to secure approval will see Thames edge closer to a temporary nationalisation, which could cost the government some £2bn a year.
Fuck that.
Let them go bankrupt. Creditors will have to write off the debts.
The Government can then buy the company for peanuts.
You don't buy a company minutes BEFORE it goes bankrupt.
Comment by SufficientBox7169 at 03/02/2025 at 11:59 UTC
1 upvotes, 1 direct replies
Can Thames Water shareholders not sue the CEO and board for mismanagement?
Comment by ChazR at 03/02/2025 at 12:29 UTC
1 upvotes, 0 direct replies
They should go to their shareholders. Issue a large tranche of stock. They've taken enough out - now it's time to put it back.
Dilute the stock, not the sewage.
Comment by Fun_Device_8250 at 03/02/2025 at 13:28 UTC
1 upvotes, 0 direct replies
Thames water are idiots but so is the regulator approving the increase they can charge instead of saying take it out of shareholder money 🤷♂️
Comment by Tsukiko615 at 03/02/2025 at 13:29 UTC
1 upvotes, 0 direct replies
They should be forced into bankruptcy, the tax payer shouldn’t have to bail them out after they’ve been reaping the profits for years and not investing anything into the system they’re responsible for
Comment by jimmywhereareya at 03/02/2025 at 14:12 UTC
1 upvotes, 0 direct replies
They should ask their shareholders for emergency cash.
Comment by Sir_Henry_Deadman at 03/02/2025 at 15:47 UTC
1 upvotes, 0 direct replies
Let them fail, get purchased by the government and nationalised like it should
Comment by xParesh at 03/02/2025 at 11:40 UTC
1 upvotes, 1 direct replies
The only problem with nationalising these natural monopolies is that they then have to compete for government budgets.
If the NHS is on its knees are the government going to put their limited money into the water system or put money into the NHS? Then the water systems not being politically sexy always got less than they needed so started falling into disrepair.
This was historically the problem pre-privatisation.
Making it private meant it was someone else’s problem to fund it.
Comment by MandeliciousXTC at 03/02/2025 at 13:40 UTC
1 upvotes, 0 direct replies
Aren’t the shareholders who got paid millions in bonuses each, billions in total, prepared to give any back?