Thames water making a mockery of the system again

[Nano]

They are using their emergency loan to pay bonuses to executives.

It reads like satire but this is a genuine quote from their chair: “We have a bonus scheme to protect our most precious resource, which is the senior management team,”

Says everything you need to know about them that the managers of a genuinely precious resource think of themselves as more important.

Thames Water executives to receive bonuses from £3bn emergency loan

Utility’s chair tells MPs that retention payments are needed to prevent rivals ‘picking off’ staff

www.ft.com

No stopping the "efficiency" of the private sector.

 

[Norfolkred1]

They should get a productivity bonus, so nowt then.

 

[h_m_boro]

Unless "productivity" is measured by the amount of sh*t dumped in our rivers and seas.

 

[TeessideCleveland]

Thames Water chair says he ‘may have misspoken’ to MPs over bonuses

Sir Adrian Montague told select committee paying bonuses out of emergency £3bn loan was insisted upon by creditors

www.theguardian.com

 

[Colgates_shaving_foam]

Snouts in the trough.

All are equal but some are more equal than others.

 

[Brian Marwood]

Their reward should be prison sentences, not financial bonuses.

 

[Steer]

If there is one group of people that annoy me even more than corrupt MPs, it is this lot.

 

[ThePrisoner]

If there is one group of people that annoy me even more than corrupt MPs, it is this lot.

Capitalists?

 

[Priv]

Interesting

Ofwat hits Thames Water with record £123m penalties over environmental and dividend breaches

In a landmark move, UK water regulator Ofwat has fined Thames Water nearly £123 million following two major investigations into the company’s operations...

smartwatermagazine.com

 

[Fat_Dragon]

How are they going to pay that considering they are 19 billion in debt?

Just make it 19.12 billion in debt?

 

[SmallTown]

How are they going to pay that considering they are 19 billion in debt?

Just make it 19.12 billion in debt?

Simple: By increasing our bills.

Privatisation of utilities stacks the cards so much against the consumer it is pretty much abuse of the public. It genuinely is a grim situation

 

[1finny]

They are using their emergency loan to pay bonuses to executives.

It reads like satire but this is a genuine quote from their chair: “We have a bonus scheme to protect our most precious resource, which is the senior management team,”

Says everything you need to know about them that the managers of a genuinely precious resource think of themselves as more important.

Thames Water executives to receive bonuses from £3bn emergency loan

Utility’s chair tells MPs that retention payments are needed to prevent rivals ‘picking off’ staff

www.ft.com

No stopping the "efficiency" of the private sector.

I read the government will implement ‘special measures’ at their disposal to prevent this.

I love the premise that it helps retain talent …..
The fricking talent that has ripped off the taxpayer and made a pigs ear of running the business.

It’s that bad I wondered if big Jim Ratcliffe was involved

 

[speckyget]

Good to see Oftw@t finally getting tough with Thames Water customers.

 

[Fat_Dragon]

Simple: By increasing our bills.

Privatisation of utilities stacks the cards so much against the consumer it is pretty much abuse of the public. It genuinely is a grim situation

Thames Water will pay a £104.5 million penalty for failures in its wastewater operations, with an additional £18.2 million fine for breaching rules around dividend distributions. The penalties will be borne by the company and its shareholders—not its customers.

 

[The_Tiler]

Thames Water will pay a £104.5 million penalty for failures in its wastewater operations, with an additional £18.2 million fine for breaching rules around dividend distributions. The penalties will be borne by the company and its shareholders—not its customers.

Yeah, ok OFWAT, whatever you say

Thames Water knew this fine was coming, and raised everyone's bills by about £20 per month.

 

[HarryVegas]

What was that quote from Billy Bragg? Something like "Capitalism is like fire. It can provide warmth for you and your family, can provide you with food etc. But unless it comes with controls on it (ie tight rules, regulations and consequences for misuse) it will go out of control and destroy everything you hold precious."

No real consequences for greed and gross mismanagement and here we are.

 

[mercury_redstone7]

Voting Tory causes untold damage and major financial crimes against the British taxpayer, as well as catastrophic environmental impact.
A huge percentage of the people who dwell on these islands are not quite right upstairs, despite what we consider spending good money on educating them.

We sold everything so the suburban easily conned dim wit could get themselves a suitcase and make a measly £500 by flogging our necessities, the worst news is it still hasnt changed, these blockheads still have the suitcase but not the £500.

Never listen to them nor bother with them.

 

[ThePrisoner]

Nationalise.
No compensation to shareholders.
Prosecute.
Imprison.

 

[Priv]

Nationalise.
No compensation to shareholders.
Prosecute.
Imprison.

You forgot confiscate assets to clear the debts and pay the fines.

We need to get rid of the whole limited liability rule for private company shareholders and directors. If we cant get rid of that rule then at least force company owners to insure their their own debts to be allowed to trade.

 

[speckyget]

Thames Water will pay a £104.5 million penalty for failures in its wastewater operations, with an additional £18.2 million fine for breaching rules around dividend distributions. The penalties will be borne by the company and its shareholders—not its customers.

And monkeys might fly out of my àrse.