Totts

Investors in #ThamesWater have told the Labour government that a temporary nationalisation of the embattled company would slow its turnaround, after calls from Andy Burnham to put key utilities under public control.

NationaliseWaterNOW !

May 17 at 7:37pmWeb
Show threadAnneHMay 17
@Geri 💯
Show threadRaymond RussellMay 17
@Geri
When you invest you take the risk as well as the reward.
They were happy to take the billions in dividends etc as the debt rose.
Now the company is basically saddled with so much debt that it is commercially worthless so the gov't could Nationalise it at no great expense.
Show threadTottsMay 17
@raymierussell Fergal Sharkey explained all of this zero cost takeover didn't he xx
Show threadRaymond RussellMay 17

@Geri

The propaganda from the Investment Class is that the gov't would have to take the company's debt on but that is simply as they say...bollocks.

Show threadTottsMay 17
@raymierussell So I understand, Raymond xx
Show threadMarjorieRMay 17
@Geri and of course, do so permanently.
Show threadAngua May 17
@Geri

Levy eyewatering fines for pollution, water damage from leaks etc - no need to pay for renationalisation.
Also fraud, false accounting...
Literally bankrupt them, then eminent domain on a shoestring.

The precedent would prevent any future reversals I should think.
Show threadEFMay 18
@Geri the public does not want temporary anything. Nationalise the utilities and public transportation. #UKpol. The planet will thank us for nationlising water too.
Show threadSchroedingers_CatMay 18

@Geri Nationalise with not payout. Permanently. That solves it.

And tell those investors with debt that the execs will pay them back, from their massive and unjustified bonuses.

And then see who else wants a water company, and who else wants to continue to prove finance for them.