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Post by Deleted on Apr 5, 2008 17:10:21 GMT
Rumours have it that an Australian company have made a takeover bid for Stagecoach
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Post by Deleted on Apr 5, 2008 21:41:16 GMT
Macquarie Bank are the Australians who purchased East London and Selkent, so it may be them who are are rumoured to be purchasing Stagecoach.
I haven't read anything about this rumour though.
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Post by londonunited on Apr 5, 2008 22:13:36 GMT
Don't belive it. Also, Arriva have taken over Transdev? First has taken over Go-Ahead?
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Post by Deleted on Apr 5, 2008 22:30:10 GMT
May I ask where this rumour has come from? It's quite a claim to say. I hope it's not ideal canteen gossip.
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Post by Deleted on Apr 6, 2008 5:48:02 GMT
May I ask where this rumour has come from? It's quite a claim to say. I hope it's not ideal canteen gossip. The rumour has come out of the city. There has certainly been a big increase in the Stagecoach share price that would suggest substantial buying is taking place. The company rumured to be interested is Macquarie. To be succesful they would need the buy in of Brian Souter and Ann Gloag as between them they hold about 35% of the stock.
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Post by Deleted on Apr 6, 2008 11:26:19 GMT
Yes bob i have also heard that brian souter and ann gloag are considering selling their share holding , however i havent heard as to whom. Although Stagecoach have been performing very well recently so this would be an ideal time to get optimum price for the shares.
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Post by john on Apr 6, 2008 12:11:03 GMT
Hmmm, i'm very interested to hear this! Especially as MacQuire bought their Australian operations didn't they?? If this occurs, i wonder if they'll put the whole Stagecoach fleet but into it's previous fleet names etc. Might also answer why they haven't changed the London fleets fleetnumbers!!!
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Post by Deleted on Apr 6, 2008 20:37:27 GMT
I hear you John , they have / are changing the interior of former Stagecoach buses , I know because I work for Selkent , they are still removing the blue skirt from the buses and changing to red , the Australian mob took us over I think around 2 years ago and apart from doing cosmetic things its been downhill all the way , the engineering budget appears to be around £ 1.25 per bus , the number of mechanical buses is incredible , monday morning at work is so so funny , driver after driver has no bus ( nsb ) because they will not pay the blokes to fix buses , hense the buses are made unfit , hense loss of milage .... pathetic .
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Post by john on Apr 6, 2008 23:54:15 GMT
The same with refurbs/repaints is happen at East London. Although, i have seen a few more transfers etc. At the moment there's 17148(still in Selkent logo's and TL garage code based at WH), 17276 (NS) and 17277 (WH) all over here, plus 17139 spent a short time over at NS too.
Haven't noticed any difference in the way they operate from a passenger point of view though, i must admit
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Post by Deleted on Apr 7, 2008 5:45:39 GMT
The same with refurbs/repaints is happen at East London. Although, i have seen a few more transfers etc. At the moment there's 17148(still in Selkent logo's and TL garage code based at WH), 17276 (NS) and 17277 (WH) all over here, plus 17139 spent a short time over at NS too. Haven't noticed any difference in the way they operate from a passenger point of view though, i must admit It is no suprise they are cutting costs. Whether the costs are being cut in the right areas is anothing. The reason Stagecoach sold East London buses was they were losing money on them and it was dragging down the profitability of the other London Stagecoach companies.
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Post by Deleted on Apr 7, 2008 8:22:54 GMT
Did it not have anything to do with Brian Souter realising he wasnt going to be able to charge what fares he liked because TFL set the fares ? as a result he sold his London companies . East London garages were to be this Australian mobs baby, as a result South London garages get a rough deal when it comes to sharing the ' budget' out . Unfortunately East London Bus Group didnt win a single route for the Olympics 2012 . South London garages have like I say had some buses re-painted but they still have the same old worn out engines and knackered gearboxes , ramps that come out but as soon as it see's the curb decides to go back in . I guess its all about what the public can see and sod the driver who has to drive the carthorse
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Post by john on Apr 7, 2008 11:42:45 GMT
It does look like Selkent gets the rougher end of the deal. In fact, even in Stagecoach days, Selkent buses always looked "rougher" than their East London counterparts. Although, even East London buses aren't great!! Lol. 17154 has got a dodgy gearbox, plus a top deck window that doesn't shut. Not good in this weather. Also 17447 had, what seemed like, some rough pistons or valves going off in the engine. It got sorted and then this morning it sounded like it was all back again!! Like i say though, it does look like Selkent always gets the raw end of the deal
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Post by Deleted on Apr 7, 2008 14:51:28 GMT
I'm half expecting to find a lump of 4X2 nailed on as a new steering wheel , nothing would surprise me with this shower of s**t running the company , after all they are known as asset strippers . .
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Post by john on Apr 7, 2008 17:13:35 GMT
Aren't MacQuire a bank anyway?? Was suprised to hear that they had taken the ops over. Would've thought that Go-Ahead would've jumped into to take it
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Post by Deleted on Apr 7, 2008 17:23:02 GMT
Aren't MacQuire a bank anyway?? Was suprised to hear that they had taken the ops over. Would've thought that Go-Ahead would've jumped into to take it They seem to be into all sorts of things. It may be they bought Stagecoach East London cheap as it was not profitable and will look to turn it around and sell it on. That means cutting costs and possibly getting shot of routes that are underperforming.
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