Drought in Midlands and Thames Water

[BlueSharp]

If my company fails to make a profit I get no dividend and if it makes a loss I get no income so how come water companies can hand out dividends and large salaries when they're clearly failing? The directors of those business should be made personally liable for the losses if not the profligate use of funds that don't exist

It's worse than that. These companies were transferred to private ownership loaded up with debt to realise 'share holder investment' and the investors now want help servicing the debt they loaded the company with!

[Snooky]

Maybe I am stupid, but I did not do that. I mean I know the loan was interest free or very low rate, but I'd still have to pay it back?

Nor did I, because I was fortunate enough to have work throughout the entirety of COVID times and I didn't feel it was right to take advantage. I know a few people who really milked it and are unlikely to ever be found out, though.

[willendure]

You mean you didn't take a covid loan and pay yourself a dividend?

Maybe I am stupid, but I did not do that. I mean I know the loan was interest free or very low rate, but I'd still have to pay it back?

[Protagoras]

WCs announcing hosepipe bands should be required to cut prices while the ban is in place.
15% might be reasonable ...

[Paddy]

"The UK government has promised to cut sewage pollution from water companies in half by 2030"
Does that mean when I go swimming there's only half a turd and half a sanitary towel floating around?

[SueEllen]

Another hose pipe ban
.BBC News - Southern Water issues hosepipe ban for Hampshire and Isle of Wight - BBC News https://www.bbc.co.uk/news/articles/ckglpvzygvzo

[SueEllen]

You mean you didn't take a covid loan and pay yourself a dividend?

He's not a Reform MP...

[ladymuck]

If my company fails to make a profit I get no dividend and if it makes a loss I get no income so how come water companies can hand out dividends and large salaries when they're clearly failing? The directors of those business should be made personally liable for the losses if not the profligate use of funds that don't exist

You mean you didn't take a covid loan and pay yourself a dividend?

[Protagoras]

Unfortunately, government has a proven track record of failing to allow capitalism to work efficiently.

So, there would probably be some sort of temporary pseudo-nationalisation that rewards shareholders / bondholders / management and penalises the taxpayers.

What's needed is 100% state ownership of essential services such as water and sewerage.
With no profit to be extracted, long term prices for customers would not need to rise as much.

[tazdevil]

If my company fails to make a profit I get no dividend and if it makes a loss I get no income so how come water companies can hand out dividends and large salaries when they're clearly failing? The directors of those business should be made personally liable for the losses if not the profligate use of funds that don't exist

[NotAllThere]

Thames Water warns nationalisation is likely if emergency creditor talks fall

Hopefully without compensation to shareholders.

[sadkingbilly]

serves them right.

[SueEllen]

There is a drought in the Midlands.

BBC News - Drought declared in Midlands after hot, dry weather takes its toll - BBC News https://www.bbc.co.uk/news/articles/...rrer=deep-link

Thames Water have a massive loss though still giving out bonuses.


Thames Water warns nationalisation is likely if emergency creditor talks fall | Thames Water | The Guardian https://share.google/hWwQTJ4emLWnqmVWZ