‘Please don’t forward this email,’ begs £4m-a-year water chief Liv Garfield
" [Labour] thinks there is room for improvement and, politically, there is significant pressure to ‘do something’ about utilities.
“One idea we believe might be attractive to the Labour leadership is re-purposing utilities and utility networks into a new breed of declared social purpose companies – companies that remain privately owned, who absolutely can (and should) make a profit, but ones that also have a special duty to take a long-term view.”
Won’t somebody please think of the
childrenshareholders!The higher levels of companies are obliged to oppose this on behalf of their shareholders. If they do not, they run the risk of being removed. It would be hilarious, if the money wasn’t coming out of our pockets for a utility we have no control over.
Forcing companies to take a long view is absolutely more sustainable, because it prevents boards of directors from bleeding a company next quarter to make this one look good.
Bleeding a company dry which is critical infrastructure and therefore the gov will have to step in spending tax ££ on it. These companies should’ve never been privatised.
but ones that also have a special duty to take a long-term view.”
Nice of them to admit they don’t currently care about anything but the short term. Changing the name won’t change their outlook, get these utility monopolies back into government control.
One of the things all humans need to continue living should be “highly profitable” - fuck off with this nonsense unnecessary capitalism, please.
Nationalise it!
But if what is the tories reprivitise it?
Just tell the banks the debt is void, or they can swallow it, their choice.
Shareholders and management team get wiped out.
Municipalise it.
That would be illegal. That’s just seizing assets that they legally own.
When companies go bankrupt, the debt is written off. That’s not illegal.
Yeah but the water company can’t go bankrupt because it provides a key service. So the government will HAVE to rescue it and thus they’ll HAVE to pay the investors something. Might be a write down but one way or another tax payers will be on the hook. I’m not supporting this shit btw. The water companies are a natural monopoly so should be controlled by the government and never have been nationalised. I’m just saying what is EVENITABLY going to happen.
Tax the hell out of these parasites, and the shareholders, then nationalise them, all utility companies.
Truss nomics
I worked for Openreach when Liv Garfield was CEO there. She was overheard on an open mic saying older employees (those with better terms and conditions) were a ‘Cancer to the company’.
Of course it was denied, but she didn’t stick around long after that.
