Why are private rail firms paying shareholders so much profit when they’re so far in debt?
Mick Lynch: he knows what he’s talking about. What a pity his interviewers can’t say the same.
Have a gander at this video clip, courtesy of the TUC – if you can get past the bizarre behaviour of the interviewers.
Why doesn't our money go to improving the railways, instead of private shareholders? pic.twitter.com/juWwO89DKq
— Trades Union Congress (@The_TUC) June 7, 2023
To me, it seems a very strange way of running a business.
If a firm is making a loss, it seems very strange behaviour for a national government to subsidise it – especially if it is still handing over huge amounts in dividends to shareholders.
That money should be covering the firm’s losses, shouldn’t it?
No wonder Mick Lynch’s union members haven’t had a pay rise in four years – and I’m willing to bet it was a pittance then!
Some might say low wages are better than being unemployed – but if these firms are being parasitised by fatcat investors, then by rights, they should be closed down and the bosses (and the investors) prosecuted for misuse of public funds.
Or so it seems to me.
Perhaps the government believes that the railways must continue running – but in that case, the obvious answer presents itself. It’s one that Mr Lynch himself points out the government has used.
Re-nationalisation.
Then there would be no shareholders to take dividends that should be invested.
Am I mistaken?
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