Thames Water begs to be spared fines and costs, warning bidders will walk away

25 comments

1. Fuck me so fed up of hearing about them. We are one the only nations that has privatized water and it has failed at every level. Can anyone really argue they feel fine that our nations water resources are owned and managed by foreign companies or pensions. It’s an absolute fucking joke.

2. Good, go bankrupt and be taken into public ownership

3. Privatise the profits, socialise the losses.

   Wonderful.

4. Considering the fact that my thames water bill has risen by 37%, I’m finding it difficult to feel any empathy. I sincerely hope they go under and go under public ownership.

5. Good. Let it fail and seize the assets of everyone involved in this nonsense.

6. Its bad enough that they’re being bailed out by the Government for £3bn (Which some of the upcoming welfare cuts are paying towards).

   Now they want to be spared additional fines?

   Let these people go bankrupt and under, nationalise Thames Water when they’ve got absolutely nothing left so it costs the taxpayer absolutely nothing.

   Every Brit had the right to drink clean safe water and bathe in clean safe water – If a private company is breaching that basic human right, then they need to be prosecuted and taken into public ownership.

7. Man this privatization of services keeps delivering.

8. Let them go bust, establish a new public company and buy their assets for pennies on the pound. That is what should be allowed to happen to all the scum water companies.

9. I hope the bidders do walk away so we can nationalize it when collapses, Thanks. This company isn’t worth anything. Fuck these assholes and their shareholders.

10. Me: yeh fuck Thames water and fuck their greedy fucking shareholders.

    Also me: member of pension scheme that owns majority share in Thames water.

11. The bosses should be in jail. Paying dividends when the company is basically bankrupt is illegal.

12. Time for the shareholders to step up and sort out their troubled Golden Goose.

13. I honestly think the government should put them on 12 months notice to outlaw dividends from them until they are up to standard and solvent.

    They’ll soon step up their game

14. All water supply should be government owned, when profits go above service it’s only the public that gets screwed

15. Thatchers dream in ruins, who’d have thunk it! Utilities are not for profit, they are to service society!

16. GOOD! That way they can be taken back into public ownership and sorted out, no more millions going into shareholder pockets via dividends whilst people have literal shit floating down their rivers.

17. We really need a new body to replace Ofwat – and Thames Water should be denied their request and be forced to cover the costs themselves!

    Why should us taxpayers keep paying for their mistakes?

18. How about this. In exchanging for jailing and fining their executives and major shareholders, we spare Thames water the fines and penalties, and bring them into the warm embrace of national management.

19. I’ve said this in a similar thread, but I think it’s absolutely mental that essential infrastructure like water, sanitation, power, communication and transport are allowed to be run for private profit.
    Letting corporations milk them for every drop of value they can squeeze out while running the service, and then when it inevitably collapses from mismanagement, getting bailed out (which comes from our tax money) or taking on massive debt (which we all pay for through increased billing) is a shameful system.
    Aside from the clear evidence that time and time again these services gets worsened to syphon off ever-increasing profit, given the current global instability in nation relations and international markets, not being in full governance of our own critical networks seems extremely short-sighted.

20. Let them sink (presumably in their own sewage water)

21. My heart bleeds, how can you give out huge bonuses and show it to be a cash machine for investors if there’s consequences and stuff.

22. Quite frankly after the rampant fraud there lucky they can walk away. They should be imprisoned.

23. I love how Thames Water is desperately trying to pretend that it’s massive financial black hole just dropped out of the sky, and isn’t the product of taking literal billions of pounds in over-leveraged loans and paying them out immediately as dividends and executive pay packages.

24. Oh no. Well if all bidders walk away, it seems like the government will have to take control. After that, they should take control of the rest of the water companies.

    The fact that a utility service such as water is run by for profit corporations is absurd.

25. Let them go into bankruptcy then buy them for £1. Then just nationalise it.

Comments are closed.