David Lloyd Owen - The BP moment – hoping that your networks will hold out.
- From: Vol 11, Issue 8 (August 2010)
- Category: Analysis
- Region: Europe
- Country: United Kingdom
- Related Companies: Severn Trent and Yorkshire Water
The economics columnist John Kay recently recalled an observation made by one of the directors of the then recently privatised UK water companies that the essence of managing a water and sewerage company is to let the service run itself and to concentrate on laying off staff and cutting costs to the applause of all.
When the system breaks down, all hell will be let loose and the Government will allow more money to be spent. ‘Please may this all happen after I retire’ was the director’s parting shot.
A few days later, a friend told me that BP’s Deepwater sinking-horizon moment has caused one of today’s water plc directors to shudder ...
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