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Yet another reason to concrete over the railways

Network Rail, created by the Government in 2002 to replace Railtrack, last year paid its four executive directors a total of £3.3 million in salaries, bonuses, pension contributions and “long-term incentive payments”. It says that it is a private-sector company competing for the best business brains with the likes of Shell and BP. But Network Rail has a monopoly over rail infrastructure and its £18 billion debt is underwritten by the Government. John Armitt, the chief executive, never has to worry about going bust or losing market share to a rival.
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Network Rail argues that other rail industry leaders took home even more. But Brian Souter at Stagecoach (£1.1 million plus pension) and Phil White at National Express (£1.5 million plus pension) both had to compete in a fiercely competitive market to run train franchises.

They are also held to account by shareholders while Network Rail is answerable only to a few dozen rail enthusiasts who can do nothing but ask one or two awkward questions.

(The Times)

Comments

It gets worse, Network rail hands over millions in fees to consultancies such as bechtel who then cause more delays and cost overuns than if Network rail did the job itself. It wastes millions on these jokers who havent delivered anything worth having!

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