Bonanza Time For The Bosses!
While rail passengers are being warned to expect fare increases of up to 40% - possibly even more - over the next four years it’s bonanza time in the boardrooms of Britain’s main private transport operators.
The “UK Transport Rich List” is topped by Keith Ludeman – boss of the Go-Ahead group – who saw his salary rise by an incredible 35% from £916,000 on the June 2009 figures to £1,240,000 in July this year. Ludeman is responsible for the Southern Trains franchise which recently announced it was axing toilets, as a cost cutting measure on the key inter-city route between Portsmouth and Brighton.
Hot on his heels are Brian Souter from Stagecoach on £762,000 and David Martin from Arriva on £743,635. Company profits show that the big five UK transport operators have posted combined dividends of more than £2 billion since privatisation.
Roughly translated, what was once a fully integrated, national rail network was handed over to the private sector in the 1990s. Or rather the assets were largely handed over, because the public were still expected to provide massive subsidies to the new rail owners. It was either that, or revert to the old privately owned network which had to be nationalised after the Second World War because it was bankrupt.
So the great British travelling public is now being forced to stump up for a reduction in those same subsidies, making travelling to work possibly even more expensive than any rewards received for work itself. To add insult to injury, the fat cats who run the industry will continue to stuff their pockets at the public expense.
Meanwhile, the same bosses are busy cutting costs and cutting staff.
Rarely are any of these facts laid before the long suffering commuters, who are invited by much of the media instead to bash the unions – and in particular the leader of the main rail union, the RMT, Bob Crow – when union members strike to save jobs and maintain services. And sadly, Britain is such an atomized and spiritually crushed society that all too many people have simply become resigned to the most grotesque two fingered salute that is being given to them by Government and industry bosses alike.
How quite unlike France..
UK TRANSPORT COMPANY“RICH LIST”
Railway Directors Remuneration
Highest Paid Director
David Martin £743,635 (31 Dec 2009)
Arriva Cross Country
199,000 (01 Mar 2009)
Arriva Trains Wales
194,000 (31 Dec 2009)
Moir Lockhead £643,000 (31 Mar 2010)
First Capital Connect
398,000 (31 Mar 2009)
First Great Western
190,000 (31 Mar 2008)
429,275 (31 Mar 2009).
Go-Ahead Group (65% of Govia)
Keith Ludeman £916,000 (27 Jun 2009)
£1240,000 (July 2010)
358,000 (28 Jun 2008)
National Express Group
Interim 6 months ended 30th June 08
Ray O’Toole £644,000 (31 Dec 2009)
166,852 (31 Dec 2008)
Interim 6 months ended 31st October 08
Brian Souter £762,000 (30 Apr 2010)
East Midlands Trains
South West Trains
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
The Canadian professor has an extensive collection posted on his site.
- Peterson's Great Books list features classics by Orwell, Jung, Huxley, and Dostoevsky.
- Categories include literature, neuroscience, religion, and systems analysis.
- Having recently left Patreon for "freedom of speech" reasons, Peterson is taking direct donations through Paypal (and Bitcoin).
Evolution doesn't clean up after itself very well.
- An evolutionary biologist got people swapping ideas about our lingering vestigia.
- Basically, this is the stuff that served some evolutionary purpose at some point, but now is kind of, well, extra.
- Here are the six traits that inaugurated the fun.
Despite incredible economic growth, it is not necessarily an investor's paradise.
- China's stock market is just 27 years old. It's economy has grown 30x over that time.
- Imagine if you had invested early and gotten in on the ground floor.
- Actually, you would have lost money. Here's how that's possible.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.