Great Western Coffee Shop

I'm dreaming again but please read on.

Is there any reason under The Railways Act which led to the privatisation of the UK's railways why FGW should not procure brand new trains by :-

1. First Group setting up a ROSCO, First Trains Leasing.

2. Procuring brand new rolling stock vested in this ROSCO.

3. Leasing the stock to FGW.

In the event that FGW lost the franchise at some future date then the stock could be leased to the new franchise holder or offered to any other franchised operator who may be operating clapped out stock.

Cash to pay for this stock could be raised from all those affluent shareholders who have been promised by the Board of First Group, "to grow dividends by 10% annually for the forseeable future". The cash could be raised by way of a rights issue. This is a method commonly used by companies listed on the LSE to raise money for investment. Say for instance that they needed to raise ^65 million to pay for the new trains. Assume their current issued number of shares is 100 million and they are trading around the 700p per share on the Stock Market. A rights issue of 10 million shares on the basis of a 1 for 10 rights issue at 650p per rights share would gross the required ^65 million to finance the trains. Under a rights issue the existing shareholders have the right to acquire 1 new share for every 10 shares held and in the example I have laid out, the shareholders would get an immediate return of 7.5% on their investment assuming that the share price stayed static throughout. However share prices go up and down like a yo-yo but stock analysts would probably look on such move as a positive step towards securing a brighter future for the FGW franchise. This in turn can chase the share price up and the rights shares would rank "pari parssi" with the existing shares and if the shares traded on the LSE rose to 750p the investors will have made a paper profit of 15% on their "rights issue" investment.

Just a thought as I wake up from my dream.

Wouldn't that be nice, turn up to work a train and its a shiny new 3 car clas 172 with first class, air conditioning doors that close on their own (without having to kick them shut like on most 158's)zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz....... oh bugger, i've woken up and theres a nice purple 142  waiting for me in platform 3 but I can go back to sleep coz it's just failed!

As a more realistic suggestion how about FGW start running the longer local services such as Cardiff to Portsmouth using Locos and Mark 2 Carriages refurbished to the same standard as the HST's? I imagine they could get these trains for next to nothing. Also can someone explain why they aren't putting high density style seating without tables on the refurbished class 158's etc? What's the point in tables on local journeys? It just turns into a big battle for leg room which no one benefits from especially when people are standing yet there is nothing on the tables.

Alternatively if FGW's true motivation to hold this franchise is to run the high speed services why don't they simply contract out the local services to another operator such as SWT or Virgin?

I understand it is a technical issue related to what's where in the undercarriage / under seat equipment.  (Source - Andrew Griffiths, Tuesday evening, when this question was asked)

Quote from a speech by Tom Harris , Parliamentary Under Secretary of State for Transport at the Railway Forum Symposium (link below.)
http://www.dft.gov.uk/press/speechesstatements/speeches/railwayforumsymposium

"By January next year, we aim to publish a rolling stock plan.  This won^t be a definitive carriage by carriage allocation, but it should give a clearer indication of where capacity needs will be met."

I'd have to argue,there are a lot of people who do do long distance journeys on the route, especially with Children/Family

But the majority of users and the ones who pay most for the "privilege" are commuters.

Just saw some FGW 43's pulling what looked like MML stock, are they hireing these for cover for the refits, or are they simply part of the HST expansions?

FGW hired one coach set whilst the refurb is going on, they've had them since about March though, suprised you hadn't seen them before?

first time i've seen them go through here

The rake was down in Cornwall alot in the summer working an extra summer only service most days. Quite nice inside. Better than FGW un-refurb sets.

First already OWN some HST set's which are used on Great Western. 5 in total I think. On the sheet given to Drivers and Guards which list variuos things including Power Car and Coach numbers they are listed as

this is a First Rail Holdings Vehicle

Would this be who the 142's are to be owned by as well?

Don't know about the 142's but Wessex owned a couple of the 143's and one would presume that FGW own them now.

The Class 142 units are all owned by Angel Trains.

All but 2 of FGW's Class 143 units are owned by Porterbrook Leasing , the exceptions being 143618 & 143619 which are owned by Rail Assets Investments Ltd.

hmm, i was under the impression that FGW bought the 142's outright

Nope , they are all owned by Angel Trains.