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Freki

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Posts posted by Freki

  1. 10 hours ago, Dweller said:

    WTF - whose problem is this?? 

    https://www.theguardian.com/business/2024/apr/14/thames-water-is-everyones-problem-and-time-is-running-out-to-fix-it

    So grim is the outlook for bondholders at Thames’ operating company that the Investment Association, the trade body for fund managers, has already issued a rallying call to Thames’ lenders, laying the groundwork for intensive lobbying of the government and, ultimately, potential legal action. This work is only preliminary for now but it indicates the potential fightback against Ofwat and the Treasury by investors should Thames’ entire operation run aground.

    Moral hazard? The government should not intervene. The business has been provided clear guidelines on the level of public services the company was expected to deliver. They loaded on debt and gave a kid of those to shareholders and bondholders. The gravy train has to stop. 

    If a new company is appointed hopefully they will do better than mismanage the SE water network

  2. 1 minute ago, Stewy said:

    No answer there but a lot of bloviation. 

    "When you have a revolving door between the regulator and the industry it is meant to regulate"

    How do you prevent that happening while making sure the regulator is up to speed with goings-on in the industry? 

    I answered your concern that the people of heading the regulator need to come from that industry. 

    But if you want a simple one, to address the simplest part: you can't work for the industry you are regulating for 5 years. 

  3. 2 minutes ago, Stewy said:

    What is your solution?

    You either have knowledgeable people at regulators who have worked in the industry, or you get outsiders who don't understand all the technicalities. 

    BS, you have a contractual agreement, the industry has to follow it. What you need first and foremost is specialists in monopolies. You don't let monopolies get so much profit, by loading so much debt without stripping them off their assets. 

    Besides, at this level the role is one of stakeholder management, the technicality you leave it to the analysts and their reporting. What kind of expertise do you need to understand you are being taken for a ride?

  4. 7 hours ago, Ballyk said:

     

    All the English water companies have been failing thanks to poor management and bad regulation.

    They failed due to poor governance. When you have a revolving door between the regulator and the industry it is meant to regulate, there is an obvious issue. 

    Ofwat has been toothless and complacent. If there is no risk of losing, people will act as thieves.

    Thames water's debt is held by the shareholders, a nationalisation due to bankruptcy would mean they would lose everything, as they should. 

  5. 30 minutes ago, Far Canal said:

    Do people know that the income from the train operators doesn't even cover the staff costs for running the railway? Let alone the maintenance, stations etc?

    All ticket prices are still massively subsidized by the taxpayer. You couldn't make it up.

    Do you know that the road tax is not enough to cover the cost of roads? It's all subsidies from the tax payer

  6. 1 hour ago, Casual-observer said:

    Well for starters a hobby. Pigeons, bird keeping, rabbit enclosures, dog kennel, gardening, growing things, kids parties, kids garden toys (swings). 

    My childhood was spent up in the Yorkshire moors bringing all sorts back with me and keeping it in the family garden. Lizards, frogs, tadpoles..etc. 

    Any living creature would have a very short lifespan in my garden with the amount of cats roaming around. 

    Gardens are for grown ups to chill, the usual "go play in the garden" is very poor parenting. Kids want to socialise, the back of the garden is not the place for them to do so. 

  7. 9 hours ago, Gbob said:

    Except their jobs could literally be replaced tomorrow by computer driven trains. They could be shooting themselves in the foot by being greedy like this by making their jobs unaffordable, pushing the train companies towards self driving trains.

    Ok. Go on strike then. We'll get the Robotrain2000 to drive the 08.32 to Charing Cross.

    I think the problem is more with the management than the "greedy drivers". The line managed by Avanti has abysmal ratings. They gambled on cost cutting, they lost now they are so desperate that they will give some people an extra £600 for an extra shift. 

  8. 9 hours ago, debtlessmanc said:

    I was involved in a tribunal case brought by a colleague (as a witness though he made some unsavoury comments about several of us). 
    our lawyers/Barrister were loving it - big pay day

    In the other court in Manchester (there are two tribunal courts on the same corridor) Asda were being done for equal pay. Our lawyers were in awe of the array of silks on show.

    apparently the staffs barrister had made it his speciality to sue big chains for equal pay. He had recently bought a large Scottish estate with a castle I was told.

    i don’t think the Asda women will be buying a castle anytime soon.  he on the other hand will be entertaining his guests at the castle with tales of how has fought for their rights.

     

    Have you seen the lawyers asking for $6B over winning a Tesla case to prevent Musk from pocketing billions?

    https://www.theguardian.com/technology/2024/mar/02/lawyers-who-had-elon-musks-pay-dismissed-as-excessive-seek-6bn-in-tesla-shares

  9. 1 hour ago, yodigo said:

    All well and good if your life is contained within the return distance of a single EV charge from your house(s). For those of us with a "wider" life, they're utter codswallop.

    Saw somewhere that due to the extra weight EVs wear out tyres much faster than ICEs. How long before the bait and switch is used on EVs using that? (plus the mountain of un-recylable battery parts)

    Roll on hydrogen! 

    Goodness, I'm doing Reading to Cardiff round trip without having to recharge. 

    I'm planning to go to Sheffield and will need a small top-up that the hotel can provide overnight, to do the round trip. 

    How often do one do 6 hours road trips in this small country? 

    If I remember correctly you are in Ireland. You can go pretty much anywhere in a single charge. Maybe Cork Belfast you will need a stop. But maybe you need one anyway for a 5h and a half journey?

  10. https://inews.co.uk/news/homes-england-blowing-millions-missing-targets-housing-crisis-2958994

    Homes England has missed all of its housing targets in the past two years, despite some being reduced, and has been spending millions on expensive consultants, while slashing the amount it spends on affordable housing, as the number of people it has helped into homeownership has more than halved.

    ...

    Homes England’s accounts show its expenditure on property and construction consultants shot up 50-fold from £68,050 in 2021/22 to £3.4m in 2022/23.

    ...

    They said that Homes England had been “rinsed” by consultants – architects, engineers, and designers – who were on £800 to £1,000 a day, which was up to 50 per cent more than the private sector builders would pay.

    ...

    Figures are not yet available for this financial year, but the agency has already returned £1.9bn of housing cash to the Treasury after failing to spend it, DLUHC has confirmed. This includes £255m to fund new affordable homes, £245m to improve building safety following the Grenfell fire, and £1.2bn it was unable to spend on Help to Buy, the Government’s flagship homeownership scheme.

    ...

    Meanwhile the number of new homes the agency supported has fallen by 17 per cent from 40,452 to 33,713 between 2019/20 and 2022/23.

  11. 2 hours ago, Frankie Teardrop said:

    Could always get rid when the lease expires and buy second hand. Plenty available around 5grand. But that doesnt fit with the lifestyle he is no doubt trying to project. Earning that money in the East Midlands should be doing fine, even if the wife isnt working. But it still needs budgeting for. Another IYI/RYR.

    So what is it going to be: 

    In the UK, if you are a top 10% earner, you should expect living paycheck to paycheck if you want a house, a car and kids

    In the UK, if you are a top 10% earner and live paycheck to paycheck then you have to make a choice between house, car and kids. 

    At the end of the day you have to recognize that people did not need to compromise as much on their lifestyles pre 2008. 

  12. 3 hours ago, NoHPCinTheUK said:

    Honestly, who cares about what your wife did. 
     

    I am sick of having arguments with people bringing in their personal experiences. 
     

    Childcare in London and the SE costs £2000 pm. It’s £24k pa. £48k for two years. If you have two children and you need childcare it’s £100k to find in 4/5 years. 
     

    You people have no bloody clue how the rest of the population survive the day. 0.

    Zero.

    Coming out of a salary taxed at 42% on your marginal

  13. 3 hours ago, Jean-Luc said:

    How much would it cost to run an ICE car per mile if petrol or diesel was taxed at the same rate as electricity? Or more to the point how much more expensive would EV's be if they faced the same taxes as ICE vehicles?

    Yeah, I don't know if you have heard but we have this thing called climate change going on. And making cheaper to burn CO2 in the atmosphere is really not the priority. 

    On top of that we imported £19.4B of fuel during Oct23-Dec23. When we have a trade deficit of £14.9B. 

    So cheap oil is not a solution unfortunately. 

  14. 39 minutes ago, hotblack42 said:


    One of the biggest issues with EVs is the current bias towards households with private frontages.  Manufacturers should focus on solving this, not finessing the upper quartile market with bells and whistles to make their EV experience even more pleasant.

    Manufacturers are here to provide cars. Fixing access to cheap electricity is an issue for the government (from minister to council) to solve.

    When you see how much Tesla charges for electricity compared to all the others, there is a good case for the competition watchdog to intervene. 

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