I really dont know how this is a justification of private industry. More an example of its failures. They were more than happy to take the money for something which retrospectively they claimed was impossible!
Um, private sector failure?
It's an example of government ineptitude. For at least 7 years before they lost the election they were told STOP THE IT PROJECTS. They wouldn't even had owned the intellectual property. Dickheads.
It was all only to spy on us anyway you know!
Your saying quinetiq should have stayed in public ownership? Im afraid all this smacks of forced outsourcing, this time by a labour government. Both sides are pursuing this chimera that private sector is better.
No this was selling a third to their mates at a massive discount to a Bush/Cheney company Carlyle, & 13% to the managers. There was a hoohah even at the time of sale - value of Qiniteq only £125M
The day after sale, the MOD awarded it an annual contract of £500M/ann!!!! Guaranteed for 25 years!
Now even someone shit at Maths can see what a rip off that was. The investment @ even 10% return paid for itself in 2.5 years. The return was 40%/annum!!! RISK FREE. Some of the managers made £20M, & Carlyle didn't pay a penny tax because Labour allowed them to operate through a "Box Company"(think India & Vodaphone now!) in Jersey
This simply couldn't happen in the private sector because of the diclosure requirements i.e it would rip of shareholders, in this case - us!
There are quite a few companies trying to break into the state education system which are definitely in it to make money. What do you reckon, this will inevitably mean they fail to improve standards? Shareholders sucking out money is bad news.
I agree, it's a bad idea in most ways, but potentially a good idea if it's limited to less than 5 schools per company. Think vocational, or technical training.- there are some nice organisations out there! The national curriculum is a joke. 5 passes at C or above up from 23% to 46% in 20 years! Whatever happened to ogives & bell shaped curves. Bring back Selective education, & a proper system of aptitude assessment so kids are motivated & are steered onto courses which suit them rather than one size fits all.
If you want to follow the example of successful education, then I would suggest setting up charitable foundations or cooperatives to run industry.
I dont know how old you are, or if you have a short memory. PFI was well established under the last conservative government and reports of its disasters were already in the news. One of the hoped for changes under new labour was that they would get rid of it. Well they didnt. They went conservative instead and adopted it.
The dome was a conservative project initially in the hands of Michael Heseltine. By the time labour came to power it was already attracting ridicule for its incompetent organisation. Initially the cons attempted to get private industry to run it. Didnt work out well.
I think I posted a while back - I (did) know a lot about PFI, being as I worked for one of Soros's co-bidders for the IR &C&E estates. Sod the Tories, Labour did not have to build that White Elephant Dome at all. It showed how shit things can be when they're done by committee.
The joke was that the Tories sold of the family silver, but Labour literally sold off the family gold! We even bid more than Soros. Another example would be London Underground. What a joke that sevice level contract was - guaranteeing 30% return/annum!
Why weren't we all invited into that party eh?
You're not against entrepreneurs - you're against crooks!:beerchug2:
It was never about getting services run better - it was to hide the huge future liabilities racked up, buy votes, & pay off your sponsors.
If money doesn't circulate, bankers can't print more(fractional reserve lending) or get paid interest for nob all.
The problem is - the gits who run the unions are just as bastardish, just less well off. I know guys working on the Tube & network rail who have 52 days holiday a year, phenomenal sick leave, & earning £65K driving a train!
Right. yes. people running banks which created the biggest financial failures ever known were punished by 1) staying in their jobs after the companies were rescuedand continuing to get vast bonuses or 2)retired on humongous pensions. Im glad the equivalent sanction in the public sector is not yet on quite such a big scale.
I've long favoured a mansion tax for any value of a property above £900,000 - well before Vince Cable - but I'd hit it for a one off 20% not a poxy 0.5%. You' get all those tax shy bastards like Phillip Green, Laksi Mittal & Russian oligarchs then. That would raise £20Bn. That's a lot of jets.
Yes, where I live the privatised train company extended journey times as timetabled so as to make it easier to meet its punctuality targets. Instead of sometimes taking 10 minutes longer, journeys now always take 10 minutes longer.
Haha. That's classic. I went to Hounslow from Waterloo. It's 45 minutes. It's a straight track. Overland. No other trains. And only 11.5 miles!!!!
I lived in a place 2 stops on from where 4 tubes in row would suddenly terminate - some without reason, then TO ALLOW THE OTHER TRAINS TO CATCH UP. This happened every other day. Didn't even have any timetable on the board, it was just a very expensive glorified clock.
Im not going to disagree this one. It is a fine example of what private industry does if you let it. However, not so much of the 'was'. This is still going on, even being encouraged by government. It gets worse: banks now claim they must not even be taxed!
I only wish jigsaw was real & he only had it in for top bankers & those swine expense fiddling, country ruining MPs:wink::wink: