Railtrack and Stephen Byers

[ali_alic]

has anyone been following the High Court case brought by an action group against the govt re the Railtrack liquidation.  Could Stephen Byers really have been so devious or is it a load of mud slinging?? Surely if true he should never work in Govt again!!

[El D]

1. Yes, he could.
2. He shouldn't but he will - well maybe in an unofficial position

[Ducati]

Am looking forward to the outcome here - because if proven, this will be (possibly the biggest) scandal New Labour has faced.

 

And the good thing about this is it is being contested in a 'proper' court, as opposed to there being a white wash such as the Hutton enquiry.

 

Can't wait.

[Hippy]

The shareholders gambled with their money and lost. End of story. Now they have sour grapes and want to treat gambling like a bank where your deposit is safe.

The truth is that as Railtrack was set up with a single aim; to make a profit above all else. (That's what a limited company is supposed to do by law! Its Directors are charged with the sacred duty to return a profit for the shareholders, not serve the customers, nor attend to safety, nor care for workers' conditions, but the sacred cow of sharehjolder profit.) Safety was compromised with the result that a train came off the rails at Hatfield, and then, when everyone's attention was supposed to be on greater safety, another went sideways into Potter's Bar station because some careless, cheapest tender, profiteering conractor skimped on the work inspections and left some track bolts undone where they were working.

In the interests of the safety and continuance of the railways in this country, the Government decided, in its capacity as one major shareholder and as a Director, to disband the company and undo the awful Tory money grabbing episode. Nothing illegal. The share price had plummeted to next to worhtless before the Government took action.

The current "action" is the dying thoes of those tricked by Thatcher into parting with their cash in the Great Train Robbery of the 1980s. I for one am glad that the runaway disaster prone profiteering juggernaut has finally hit the buffers.

[ali_alic]

Thats a bit unfair Hippy.  Most of the so called gamblers were Railtrack pensioners who had the shares as part of their pension - hence the govt describing them as "grannies losing their blouses".  The action pivots round the misfeance and breach of human rights - not just gamblers losing on the stock exchange, which if it was the case, I would agree with you.  I'm just glad that these "grannies" didn't take it quietly like the govt expected.  We need the govt to be accountable and not breach human rights because they think that a particulat group can't or won't fight back.

Anyway it'll be interesting to see what other issues this case brings to light!

[Hippy]

OK so I go to the races, I am seventy years old, and someone gives me a betting slip for Galloping Gollashas in the two-thirty.

Untill the off, my ticket has a value that maybe I can trade, but I keep hold. They're under starter's orders .. and they're off!. Clippoty clop and Galloping Golloshas comes in seventh, so no winnings there then. However, because I am old, and the ticket was a gift, the bookie should treat me like a winner and give me money.

See you at the races. This formula sounds fun. Can't loose!

(PS I'm only notionally seventy, for the purpose of the above.)

[ali_alic]

OK so you're an 80 year old who either bought or was given a betting slip for the 3.30 at York.  Your horse has a good chance of winning but the Govt step in,  say the horse is ill and can't run and you can't get your money back.  It is later found out that the Govt had deliberately made the horse sick (didn't tell the High Court about Renewco) and had lied about the value of the horse (the true value of its assets) and had come to the deal with the owners (coprorate investors) but decided the punters (shareholders) would lose their shirts (in this case "blouses").  But thats OK because when you "gamble" the Govt cheating and lying is part of that gamble?  We, the members of the public, would get prosecuted for theft but we mustn't question the Govt?? I know I come from the generation that lived through the flower power era but I firmly believe that Basic Human rights are important and no-one should get away with breaching them.  I can't believe that you are happy for them to get away with it because they are the Govt and the shareholders are only gamblers!!