Gladys Posted September 23, 2021 Share Posted September 23, 2021 7 minutes ago, doc.fixit said: I don't believe they have gone bust! They have just got out quickly because the profit margin won't be adequate. I still think strategic services should be a nationalised asset, Public transport, gas, electric, water, sewage, police, medical. Absolutely, 100% correct. There are some things that should be private sector, and there are some that shouldn't and all those you list should be in public ownership with the emphasis on covering costs, future infrastructure investment and development. The focus should be providing a service to society. I would have argued about telecommunications too years ago, but the competitive market does seem to work in that sector, in the UK that is. 1 1 Quote Link to comment Share on other sites More sharing options...
Gladys Posted September 23, 2021 Share Posted September 23, 2021 (edited) 15 minutes ago, doc.fixit said: Wobbly Internet, proving my last point does not apply to the IOM! Edited September 23, 2021 by Gladys 1 Quote Link to comment Share on other sites More sharing options...
Gladys Posted September 23, 2021 Share Posted September 23, 2021 (edited) 16 minutes ago, doc.fixit said: And again! Edited September 23, 2021 by Gladys 1 1 Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted September 23, 2021 Share Posted September 23, 2021 Seems to me that only the profits are privatised. 2 Quote Link to comment Share on other sites More sharing options...
ellanvannin2010 Posted September 23, 2021 Share Posted September 23, 2021 18 minutes ago, the stinking enigma said: Seems to me that only the profits are privatised. We keep all the Manx Radio and Manx Utilities profits though Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted September 23, 2021 Share Posted September 23, 2021 4 minutes ago, ellanvannin2010 said: We keep all the Manx Radio and Manx Utilities profits though Profit is the reward for risk and loss is the punishment. When governments, i.e. the tax payer, bails out any private company, be it a bank, a utility etc. then the risk is removed. Why not do as the banks do with mortgages, i.e. the government loans the gas company (in this case) enough money to sustain through the crisis at the lowest rate government can get for a 100% lien on the company and all of it's assets until it is repaid. There are no dividends or bonuses until the debt is repaid in full and the lien is lifted. No golden parachutes. Even the pension funds are frozen. That would incentivise the company as they would all have skin in the game then. If shareholders don't like it they can sell at below market rate or hang on in there, if they believe the long term fundamentals are sound and the company can recover. Worst case the government gets the business for the cost of what it was already willing to do, i.e. cover the debt of the company. They can then sell it on as is or auction it off. Quote Link to comment Share on other sites More sharing options...
Derek Flint Posted September 24, 2021 Share Posted September 24, 2021 11 hours ago, CallMeCurious said: Profit is the reward for risk and loss is the punishment. When governments, i.e. the tax payer, bails out any private company, be it a bank, a utility etc. then the risk is removed. Why not do as the banks do with mortgages, i.e. the government loans the gas company (in this case) enough money to sustain through the crisis at the lowest rate government can get for a 100% lien on the company and all of it's assets until it is repaid. There are no dividends or bonuses until the debt is repaid in full and the lien is lifted. No golden parachutes. Even the pension funds are frozen. That would incentivise the company as they would all have skin in the game then. If shareholders don't like it they can sell at below market rate or hang on in there, if they believe the long term fundamentals are sound and the company can recover. Worst case the government gets the business for the cost of what it was already willing to do, i.e. cover the debt of the company. They can then sell it on as is or auction it off. Government would be loaning them money it had borrowed itself... Quote Link to comment Share on other sites More sharing options...
WTF Posted September 24, 2021 Share Posted September 24, 2021 1 hour ago, Derek Flint said: Government would be loaning them money it had borrowed itself... like banks then 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted September 28, 2021 Share Posted September 28, 2021 On 9/23/2021 at 8:26 AM, Non-Believer said: This Island is fast becoming a very expensive place to reside. Many factors are outwith its control, such as gas, just now. Others are not and are born of failed Govt policies and/or present and past incompetence. Regardless, the buck stops with the man in the street who is ever harder pressed to match the demands. It does nothing towards making the place an attractive place to live. 'Twould appear that I'm not the only one who thinks so just now too.... 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted September 29, 2021 Share Posted September 29, 2021 On 9/23/2021 at 7:47 PM, ellanvannin2010 said: We keep all the Manx Radio and Manx Utilities profits though We would if there were any! Quote Link to comment Share on other sites More sharing options...
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