Yes. Totally immoralIt’s insane. I read they borrowed £52bn and paid out £70bn + in dividends whilst polluting our waterways.
Dividends are illegal if the company is not in profit.It’s insane. I read they borrowed £52bn and paid out £70bn + in dividends whilst polluting our waterways.
It’s insane. I read they borrowed £52bn and paid out £70bn + in dividends whilst polluting our waterways.
Irrelevant. A company with a shitload of debt can still make a profit (for a while, at least).Dividends are illegal if the company is not in profit.
And they paid sod all corporation tax while they were doing it.
I think my statement was quite clear.Irrelevant. A company with a shitload of debt can still make a profit (for a while, at least).
It was, but I fail to see its relevance to the post before it, and to this thread generally.I think my statement was quite clear.
Yup. Socialism for wealthy crooks; capitalism at its most feral for the plebs.Macquarie loading Thames Water up with debt and paying it to themselves as divis is classic asset stripping.
And they paid sod all corporation tax while they were doing it.
I see it's going into 'temporary' public administration any day now. I'm guessing there will be an almighty bailout shortly afterwards - no one is going to buy a company that f*cked unless it's billions of debt are written off.
My guess is once it's finances are sorted at our expense it will be sold of for pennies to another bunch of crooks and we start all over again.
WTF were the regulators doing?
Question for Jonson Cox perhaps. I get the feeling the people running the water companies and the people regulating the water companies are BFFs.
If you couched my job as chairman of Ofwat as simply a regulator, then yes it could be dull. But the water industry was in a bit of a meltdown situation in 2012 and several colleagues suggested I applied for the position. In truth, I never thought I’d be appointed – poacher turned gamekeeper. Now I’m using my private sector skills within a monopoly, aiming to simulate competitive market situations and keep this massive industry on its toes.
https://www.jbs.cam.ac.uk/insight/2015/jonson-cox-chairman-of-ofwat/
The ‘taxpayer’ has been footing the bill for privatisation for decadesThere will be massive backhanders and the tax payer will foot the bill.
The ‘taxpayer’ has been footing the bill for privatisation for decades