Just seen some footage of raw sewage poring into some rivers and coast, thinking some third world country with no regulation. Nope…….Britain! What a mess we are becoming.
Third world?
- Thread starter Devonisheaven
- Start date
- Nov 11, 2009
- 23,905
- 8,334
- 50,935
Thats been a widespread problem for too many years, with little done to improve it. Unfortunately the OFWAT regulation has been pitiful and it has fallen to private individuals to do the necessary investigations, What has been revealed is that in some instances there has been a gross mismatch between the water companies discharge records and reality. In many respects they have been purveying falsehoods.... or "porkies" .
- Jul 18, 2017
- 15,387
- 4,763
- 50,935
What is even worse is that the directors pay themselves huge bonuses even though the company is nearly bankrupt and requires a huge loan to keep operating!
- Nov 11, 2009
- 23,905
- 8,334
- 50,935
It was Thames Water and the news reported that it would be ring fenced for use wrt supporting water and environmental activities. Also the fine could not be taken from the recent emergency loan.
PS BEEB reported that the fine would go to the Treasury so that’s probably the most likely outcome.
Last edited:
- Jul 18, 2017
- 15,387
- 4,763
- 50,935
It makes you wonder why they issue such a huge fine when the company is basically bankrupt and it is the taxpayer that foots the bill through the loan given to them. I am sure that I read somewhere that the MD of the company earns £850000 a year and that his bonuses which are "performance related" amount to over £2.2 million was over £1m. Pension and benefits earn him another £117,000 per year.
- Nov 11, 2009
- 23,905
- 8,334
- 50,935
“Thames Water's emergency loan was provided by its existing creditors, including hedge funds and other large financial firms. These creditors, who are already owed a significant amount of money by Thames Water, agreed to provide a loan of up to £3 billion to help the company avoid financial collapse and continue operating. The loan was approved by the High Court and was a crucial step in preventing a potential government bailout or temporary nationalisation of the utility. “
No doubt though that if government administration is required it’s likely the taxpayer will be involved
- Jul 18, 2017
- 15,387
- 4,763
- 50,935
Yep you are correct that eventually the taxpayer will cough up for another failing business as the lender KKR US equity firm have pulled out of the £4Billion loan. . See https://www.bbc.co.uk/news/articles/c93leknykvyo
- Mar 3, 2022
- 375
- 291
- 4,935
The longer we wait before kicking these water companies into touch the bigger the clean up bill will be!
Should never have been privatised in the 1st place!
Should never have been privatised in the 1st place!
- Jul 18, 2017
- 15,387
- 4,763
- 50,935
- Feb 13, 2024
- 956
- 603
- 1,135
I have noticed a increase in tomato plants growing by the river side's .🤢
If it was privatised where would the huge pay offs go, hopefully in investment or the treasury,not into private accounts
- Nov 11, 2009
- 23,905
- 8,334
- 50,935
My school’s cross country running course (mandatory) was through the edge of the Leicester Beaumont Leys sewage farm. Lots of tomato plants everywhere, plus sweet corn too in the sludge ponds. Needless to say my mother wasn’t to pleased to wash my kit in the washing machine.
Apparently they get high salaries because of all the **** they have to put up with.
Am I allow to say ****
If not I'll delete myself.
- Jun 20, 2005
- 19,354
- 4,829
- 50,935
Now you know why tomato plants regularly grew along the track bed between the rails 🤪
- Nov 16, 2015
- 11,906
- 4,088
- 40,935
When I travelled on the trains in India, I had my 3 foot Pole to put behind my knees, when "Going" you could see the tracks.
Facebook
Twitter