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JayMac
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« Reply #15 on: June 30, 2009, 00:15:07 » |
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im sure they would be willing to show us how a proper democratic railway could be run  I'm reminded of the oft used quote about Mussolini.........  And I had to go delving a little deeper......evidence seems to suggest that indeed after WW1 trains in Italy did improve their timekeeping. However by the time of Mussolini's Ethiopian adventures and the need for raw materials to be diverted elsewhere, the train service started to suffer. The solution? Adjust the timetables to keep trains 'on time'. Of course that sort of timetable manipulation would never happen today. |
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"Build a man a fire and he'll be warm for the rest of the day. Set a man on fire and he'll be warm for the rest of his life."
- Sir Terry Pratchett.
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willc
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« Reply #16 on: June 30, 2009, 00:21:45 » |
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being willing to invest money to improve the track At what point has Branson invested a penny piece in track improvements? We have paid for WCML▸ upgrade via Railtrack and Network Rail, not Beardie! slightly off topic but as far as competition goes, the coop has been forced to sell some of its stores and newly acquired stores to .... tesco of all places? logical decisions are not always made im sure money is involved Off topic and off beam - the Co-op was ordered to sell because their takeover of Somerfield meant there were a number of places where they then owned the two (or more in some cases) major grocery outlets in an area, so there would have been a clear lack of choice and competition. Of 133 disposals, Waitrose took 13, Sainsbury's 22, Morrison's 38 and Tesco, er, six - because in most cases there was already a Tesco nearby, so they would faced the same issue as the Co-op. Other shops have gone to Lidl, Asda, Budgens and Spar among others. The same consideration will apply when it comes to ECML▸ and WCML - the government will never wear the same firm controlling both. |
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Chris from Nailsea
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« Reply #17 on: June 30, 2009, 00:52:08 » |
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From the Scotsman, this time: First bid for National Express is on track despite debt fears
FirstGroup has confirmed it will carry on with its bid to buy rival transport giant National Express
FIRSTGROUP last night promised to press ahead with its audacious bid for rival National Express despite warnings that the deal could increase the Aberdeen company's debt and force it to ask shareholders for cash.
National Express yesterday rebuffed First's surprise move, describing it in a statement to the Stock Exchange as a "highly preliminary approach" and saying that it did not consider negotiations on a deal "appropriate".
But in its statement to the markets, First said it "continues to believe that there is significant industrial and commercial logic in a combination of the two companies"
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William Huskisson MP▸ was the first person to be killed by a train while crossing the tracks, in 1830. Many more have died in the same way since then. Don't take a chance: stop, look, listen.
"Level crossings are safe, unless they are used in an unsafe manner." Discuss.
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JayMac
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« Reply #18 on: June 30, 2009, 00:52:18 » |
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being willing to invest money to improve the track At what point has Branson invested a penny piece in track improvements? We have paid for WCML▸ upgrade via Railtrack and Network Rail, not Beardie! slightly off topic but as far as competition goes, the coop has been forced to sell some of its stores and newly acquired stores to .... tesco of all places? logical decisions are not always made im sure money is involved Off topic and off beam - the Co-op was ordered to sell because their takeover of Somerfield meant there were a number of places where they then owned the two (or more in some cases) major grocery outlets in an area, so there would have been a clear lack of choice and competition. Of 133 disposals, Waitrose took 13, Sainsbury's 22, Morrison's 38 and Tesco, er, six - because in most cases there was already a Tesco nearby, so they would faced the same issue as the Co-op. Other shops have gone to Lidl, Asda, Budgens and Spar among others. The same consideration will apply when it comes to ECML▸ and WCML - the government will never wear the same firm controlling both. Wow! We've gone from Perranwell to supermarkets via the ECML and Italian Fascism. Feels like a forum equivalent of the 'Kevin Bacon' game |
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"Build a man a fire and he'll be warm for the rest of the day. Set a man on fire and he'll be warm for the rest of his life."
- Sir Terry Pratchett.
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Chris from Nailsea
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« Reply #20 on: June 30, 2009, 02:04:14 » |
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From The Herald: FirstGroup on the road to marketplace domination
FirstGroup's tentative approach to struggling National Express - if it comes off - is likely to be Sir Moir Lockhead's final deal in the UK▸ market.
It is not just that Lockhead turns 65 next year. After all, he is dismissive of any suggestion he will soon be spending more time on his Deeside estate. It is that a combination of the two companies would confirm Aberdeen-based FirstGroup's place as the pre-eminent UK bus and rail company with the maximum market dominance competition authorities are likely to be comfortable with.
FirstGroup is already the UK's largest bus and train operator with 21% of the market including the ScotRail franchise. National Express's share sits at around 5% and is attempting to find a way through dramatically slowing growth on the East Coast Main Line rail franchise between Scotland and London it took on in 2007.
Merging the two would take it to the 25% level most observers reckon is the most regulators will accept.
Lockhead will also have added Greyhound, the iconic US coach operation bought by FirstGroup two years ago, to National Express's substantial bus operations in Canada, California and Texas and combined two of the top school bus operators in North America.
FirstGroup yesterday played down the significance of its overtures to National Express, which earlier this month was given breathing room on the covenants governing its ^1.2bn debt. FirstGroup told investors it had made a "preliminary approach to National Express "with a view to entering discussions about a possible offer". It highlighted the "significant industrial and commercial logic" of a combination.
London-based National Express was coy: "At the present time the board is focused on implementing a number of initiatives to strengthen the group and does not consider it appropriate to enter into discussions with FirstGroup."
The market, which has been worried about National Express's efforts to renegotiate its East Coast franchise deal, reacted warmly to signs it could yet escape its troubles.
National Express's shares closed up 27p, or 9.8%, at 302.75p. FirstGroup was down 4.75p, or 1.3%, at 366p.
A combination of the pair would create a company with a turnover of ^9bn and stock market value of more than ^2bn.
It would also mark the culmination of a remarkable 20-year journey for a company that began life as a ^5m employee and management buy-out of then council owned Grampian Regional Transport in Aberdeen.
FirstGroup now runs one in five local bus services carrying three million passengers a day. It has four train franchises - First Capital Connect, First Great Western, First TransPennine Express and FirstScotrail, where it replaced National Express in 2004.
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William Huskisson MP▸ was the first person to be killed by a train while crossing the tracks, in 1830. Many more have died in the same way since then. Don't take a chance: stop, look, listen.
"Level crossings are safe, unless they are used in an unsafe manner." Discuss.
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JayMac
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« Reply #21 on: June 30, 2009, 02:47:39 » |
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Judging by the amount of coverage this news story has got (including, amazingly, an article in the Tehran Times!) I think The (London) Times headline can no longer justifiably include the word 'secret'.
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"Build a man a fire and he'll be warm for the rest of the day. Set a man on fire and he'll be warm for the rest of his life."
- Sir Terry Pratchett.
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Henry
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« Reply #22 on: June 30, 2009, 07:00:05 » |
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Would like the Tesco clubcard points when I buy my season ticket !!!!!!!!!!!
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willc
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« Reply #23 on: June 30, 2009, 09:05:04 » |
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Surprised tesco hasn't put in a takeover bid hehe
Too much hassle and not enough profit. |
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Tim
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« Reply #24 on: June 30, 2009, 10:09:42 » |
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Nice to see that despite all their internal problems at the moment, Iranians are being kept up to date with National Express's woes! I wonder if there is anyone in Tehran who has visited the Coffee Shop.
Perhaps the Iranians are after some of FGW▸ 's Pacers. They took a few from WYPTE a few years ago. |
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6 OF 2 redundant adjunct of unimatrix 01
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« Reply #25 on: June 30, 2009, 13:14:59 » |
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Surprised tesco hasn't put in a takeover bid hehe
Too much hassle and not enough profit. sounds like there American break threw attempt and shhh the toc's havnt realised that yet ;-) |
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Lee
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« Reply #26 on: June 30, 2009, 23:07:19 » |
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The BBC» is reporting that the chief executive of National Express (and former head of the SRA» ) Richard Bowker is to resign. http://news.bbc.co.uk/1/hi/business/8127775.stm |
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« Last Edit: June 30, 2009, 23:20:22 by Lee Fletcher »
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JayMac
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« Reply #27 on: July 01, 2009, 01:54:19 » |
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No great surprise.....I guess the announcement will come with tomorrow's NatEx trading statement. Lets hope and pray that he takes a break from the railway industry. At Virgin Rail as Co-Chairman during the planning stage of ill-fated Operation Princess. Also oversaw the ordering and introduction of Voyagers. At the helm of the Strategic Rail Authority when the decision was taken to scrap it. And now falling on his sword after royally screwing up NatEx. Please Mr Lockhead, don't employ him at First. |
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« Last Edit: July 01, 2009, 06:08:40 by bignosemac »
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"Build a man a fire and he'll be warm for the rest of the day. Set a man on fire and he'll be warm for the rest of his life."
- Sir Terry Pratchett.
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Timmer
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« Reply #28 on: July 01, 2009, 06:19:19 » |
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Looks like National Express is ripe for someone to take it over. Certainly can't go on losing money keeping the East Coast franchise thats for sure. Maybe dumping their rail operations and concentrating on running coaches maybe the way ahead.
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JayMac
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« Reply #29 on: July 01, 2009, 07:28:51 » |
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Well, as expected Richard Bowker has gone: http://news.bbc.co.uk/1/hi/business/8127851.stmWouldn't have predicted him pitching up in the UAE though. But that's far enough away form the UK▸ rail network for me.  |
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"Build a man a fire and he'll be warm for the rest of the day. Set a man on fire and he'll be warm for the rest of his life."
- Sir Terry Pratchett.
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