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

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.

Privatise the profits, socialise the losses.

Wonderful.

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

Man this privatization of services keeps delivering.

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.

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

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

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

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?

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.

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.

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.

My bill just went from 350 to like 550 something. They can go fuck themselves. If we are going to get fucked anyway I’d rather it be nationalised since it’s coming out of our paychecks regardless

I’m a Thames water customer. I’ve been paying 1/4 of my bills to service their debt.

If Thames Water stays privatized, they will leech as much money from all of their customers, like me, to service their debts and pay dividends. Money that I could have spent and paid UK taxes on.

Either way, public or privatised, the government will be losing out on tax income regardless.

Best to find a way to bring them back to the public sector with as little money wasted as possible.

Why does the world see Britain as such a soft touch that they’ve bought a ton of our public services to use as a piggy bank. It’s a complete joke.

Oh look, is that the dildo of consequence coming over the horizon?

So, corporation ignores public safety rules, saves money by cutting corners.
Makes more profit, pays share holders larger dividends
Public picks up the environmental costs.
Now they’ve been caught, and face fines, they want to not pay them, because that would cause them to be less profitable and less attractive.
Want their cake, and everyone else’s cake to eat.
That’s simply the cost of business, if you can’t operate legally, then you can’t operate.

This is just another symptom. Maybe collectively we need to be sucking corporate dick a lot less as a national pastime because we only end up getting robbed and cheated.

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

The best thing we can do as a people now is accept that protesting does nothing and switch to violent uprisings. If we burnt every assets Thames Water had, they would claim on the insurance and they they would have to fix shit.

I think we should consider that. Any penalties we apply will just be passed onto the customers (us).

Instead, the bonuses of all directors and senior staff should be clawed back. We need a law that makes it illegal to pay bonuses to directors of the major services (gas/water/electricity) if they are guilty of wrongdoing.

Good, really don’t care how much it costs tax payers in the end as long as the thieves running Thames water are long gone.

Although, No doubt the ones at the top will get golden parachutes and sail into Monacos harbour with there yachts while UK media screams for there heads.

Tough fucking shit

You mismanaged the company, accumulated enormous debts, under-invested in infrastructure, paid all the money as dividends, with the intention of letting others (creditors, the taxpayer) holding the bag

Fuck you

The company should go bankrupt, the state should pick it up for pennies (with the debts wiped out, which is what typically happens with bankruptcy), and the bosses should be prosecuted

And as for the “well lots of pension funds invested in Thames Water” argument, news flash : the value of investments can do down as well as up. They made bad choices. We taxpayers shouldn’t be stiffed for billions because of their mistakes.