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Post by wirewiper on Sept 28, 2021 8:11:48 GMT
I'm not sure 'the operator of last resort' taking over is going to inspire much confidence but the correct decision in the circumstances. To be fair though, the public announcement does not use the words "operator of last resort".
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Post by busman on Sept 28, 2021 9:52:56 GMT
I'm not sure 'the operator of last resort' taking over is going to inspire much confidence but the correct decision in the circumstances. To be fair though, the public announcement does not use the words "operator of last resort". Doesn’t alter the fact that SouthEastern services will be run by the Operator of Last Resort. This has also been confirmed by Grant Shapps.
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Post by Deleted on Sept 28, 2021 10:02:56 GMT
The MP for Hastings has gone on record suggesting the serious fraud office are involved. Said department have not confirmed this (nor would they, yet)
The departure of Go Ahead Finance officer and delay of reporting annual results is quite telling. Seems very serious to me for GoVia and by association, Go Ahead Group.
Shares down around 18% last time I looked.
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Post by southlondon413 on Sept 28, 2021 10:20:09 GMT
The MP for Hastings has gone on record suggesting the serious fraud office are involved. Said department have not confirmed this (nor would they, yet) The departure of Go Ahead Finance officer and delay of reporting annual results is quite telling. Seems very serious to me for GoVia and by association, Go Ahead Group. Shares down around 18% last time I looked. The fact that the government announcement seemed to say “To date £25 million has been recovered” suggests it is a much larger sum missing or not reported. There are all manor of consequences though that could arise driving down the Go Ahead share price even further. It’s not a good time to have share prices dropping when the transport industry is an easy target for mergers and takeovers.
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Post by greenboy on Sept 28, 2021 10:57:24 GMT
I'm not sure 'the operator of last resort' taking over is going to inspire much confidence but the correct decision in the circumstances. To be fair though, the public announcement does not use the words "operator of last resort". It's been in a few news reports, it's just the image it conjures up🤣
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Post by buspete on Sept 28, 2021 12:25:04 GMT
I wonder if the metro routes will become London Overground as has been rumoured over the years? So if that did happen the mainline might become part of Southern?
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Post by buspete on Sept 28, 2021 12:41:45 GMT
Delete
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Post by Dillon95 on Sept 28, 2021 12:59:28 GMT
I wonder if the metro routes will become London Overground as has been rumoured over the years? So if that did happen the mainline might become part of Southern? All of the National Rail metro routes should be ran by TFL as London Overground or even TFL Rail. So hopefully.
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Post by bus12451 on Sept 28, 2021 16:00:36 GMT
Funny how this has come up literally a day after the 707 introduction. In the press release, the DfT mentions investing in passenger improvements on the existing fleet as well as improved security, hopefully this should mean a full refurbishment programme for the neglected Networkers and 376s and better staffing at SE stations. Southeastern under the current owners doesn't seem to have their priorities straight - not spending money where it is needed the most, so I think this is the right way forward.
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Post by twobellstogo on Sept 28, 2021 16:34:43 GMT
I wonder if the metro routes will become London Overground as has been rumoured over the years? So if that did happen the mainline might become part of Southern? 1) I do hope so, but my guess is the metro routes will not pass to TfL. 2) If the metro routes are separated out though, I cannot see Southeastern merging with its neighbour.
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Post by Deleted on Sept 28, 2021 17:17:48 GMT
Just been reading some very interesting share chats. Shareholders have lost a lot of money today. Many are making reference to the breach of trust comment, People are considering the reputation of Go Ahead is in tatters, and point out how unlikely it is for any new contracts to come their way ( from their biggest client, the UK Govt)
A fire-sell is being mentioned as the best way for shareholders to get any recompense.
In comes First ......?
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Post by BE37054 (quoll662) on Sept 28, 2021 18:24:58 GMT
Just been reading some very interesting share chats. Shareholders have lost a lot of money today. Many are making reference to the breach of trust comment, People are considering the reputation of Go Ahead is in tatters, and point out how unlikely it is for any new contracts to come their way ( from their biggest client, the UK Govt) A fire-sell is being mentioned as the best way for shareholders to get any recompense. In comes First ......? Could we see a shrinking of the London operations such as closing garages such as PM with the 63 loss, SI with routes moving to DS and A if the Sutton tranche routes are lost/transferred?
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Post by southlondon413 on Sept 28, 2021 18:24:58 GMT
Just been reading some very interesting share chats. Shareholders have lost a lot of money today. Many are making reference to the breach of trust comment, People are considering the reputation of Go Ahead is in tatters, and point out how unlikely it is for any new contracts to come their way ( from their biggest client, the UK Govt) A fire-sell is being mentioned as the best way for shareholders to get any recompense. In comes First ......? I doubt First shareholders would be willing to take on Go Ahead, I think it’s more likely to be sold to one of these asset management firms like the one that purchased First Transit and First Student in the US.
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Post by southlondon413 on Sept 28, 2021 18:36:40 GMT
Just been reading some very interesting share chats. Shareholders have lost a lot of money today. Many are making reference to the breach of trust comment, People are considering the reputation of Go Ahead is in tatters, and point out how unlikely it is for any new contracts to come their way ( from their biggest client, the UK Govt) A fire-sell is being mentioned as the best way for shareholders to get any recompense. In comes First ......? Could we see a shrinking of the London operations such as closing garages such as PM with the 63 loss, SI with routes moving to DS and A if the Sutton tranche routes are lost/transferred? Unlikely in the short term as share prices won’t really affect day to day running. Long term it could mean less investment, slower expansion as lenders may be unwilling to fund growth if the share price doesn’t recover and it makes Go Ahead a target for takeover whilst the shares are at their lowest. In terms of lenders as mentioned it could prove difficult for Go Ahead to raise capital for new vehicles. It’s realistic that any takeover would either be hostile or at a price the shareholders couldn’t refuse just to recover some of their capital. But I wouldn’t expect any short term changes, just major long term changes. I would also expect Govia to be barred from bidding for new DfT rail contracts so it could be goodbye to Thameslink. I do find it interesting though that Go Ahead seems to be taking a lot of blame today with Keolis barely mentioned as a joint venture partner in Govia.
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Post by WH241 on Sept 28, 2021 19:07:28 GMT
Have Southeastern stripped of a franchise in the past? or am I thinking of another train company? maybe it was southern.
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