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Posted

Nice job if you can get it!

 

Thames Water boss defends exec bonuses as sewage spills soar

Lora Jones & Simon Jack
Business reporter and Business editor, BBC News
Published
10 December 2024, 07:49 GMT


The boss of Thames Water has defended executive bonuses as the firm calls for a hike in customer bills to ensure its survival.

Chris Weston said the supplier needed to offer "competitive packages" to attract talent, but the water regulator has previously said that customers must not foot the bill for "undeserved bonuses".

It comes as the embattled company saw a 40% increase in pollution incidents in the six months to 30 September, as its debts continued to swell, according to its latest set of results.

Thames approaches a critical moment next week, with Ofwat set to decide whether to allow a proposed 59% increase in consumer bills over the next five years.

The ailing business is saddled with debts which stood at just under £16bn at the end of September.

The firm has said customer bills need to rise or else it will not be able to recover from its financial crisis. However, if the company does collapse, water supplies will not be affected.

Water firms across the UK have faced a fierce backlash over sewage discharges and pipe leaks in recent years, but Thames has been in the spotlight given its debt pile, and the fact one in four people in the UK rely on it.

Critics have argued the water industry has historically neglected investment in favour of paying executive bonuses and shareholder dividends.

But on Tuesday, Mr Weston defended bosses getting £770,000 in bonuses.

"I completely understand that there are customers out there who struggle with their bills," he added, pointing to bills support offered to about 377,000 customers in the last year.

Mr Weston, who was hired in January, was also awarded a bonus of £195,000 for his first three months at the company.

The regulator Ofwat recently blocked three companies, including Thames, from using customer money to pay executive bonuses as bills have steadily increased.

 

 

Posted
2 hours ago, Tommy G said:

Until you make it less attractive to come here vs other european countries this is just a photo op. The financial incentives on offer here clearly outstrip other european countries which is why people are forking out thousands to get on a boat. 

Then why do the vast majority of migrants coming into the EU stay in the EU.  Can you please explain to us all what the financial insentives you refer to are, cause £49.18  a week to buy all your food,  toiletories,  clothes & travel etc don't look much to me.  As far as I get ascertain France are equally generous. 

  • Like 3
Posted
On 09/12/2024 at 19:43, leicsmac said:

Arrest made in the NY shooting case.

I mean, not to be a cynic suggesting the NYPD have picked a patsy to ease political pressure, but idk that if you pull off that assassination and set up a series of fake clues like the monopoly money, that you go into a McDonald's several days later with the gun and a 3 page document entitled "why I done killed that CEO man".

Posted
6 minutes ago, The Doctor said:

I mean, not to be a cynic suggesting the NYPD have picked a patsy to ease political pressure, but idk that if you pull off that assassination and set up a series of fake clues like the monopoly money, that you go into a McDonald's several days later with the gun and a 3 page document entitled "why I done killed that CEO man".

Either it is a patsy, or the guy simply wanted to be caught for whatever reason.

Posted
5 minutes ago, The Doctor said:

I mean, not to be a cynic suggesting the NYPD have picked a patsy to ease political pressure, but idk that if you pull off that assassination and set up a series of fake clues like the monopoly money, that you go into a McDonald's several days later with the gun and a 3 page document entitled "why I done killed that CEO man".

There's no way an ivy league lad would've been chosen as a convenient patsy. But.... something don't smell right. 

 

He either wanted to get caught. The perfect crime is boring. As you get no credit for it. 

 

But a McDonald's employee recognises a random dude off one hooded photo? Eh? That's like fantasy thinking. Like seeing Elvis in the supermarket. Seeing what you want to see. I ain't buying that. 

Posted
2 minutes ago, The Horse's Mouth said:

I’ve never got the huge fixation with the boats when the real issue is the amount who come in legally tbh, that’s what impacted cultural divides in areas 

Absolutely. You only have to look at the African family  husband, wife and three preschool age kids coming out of the student accommodation next to Lidl on upperton road to realise the boats have nothing to do with the immigration crisis. 

Posted
12 hours ago, Jon the Hat said:

Well done.  I'm sure its bloody hard work getting to a successful prosecution.

Thankfully these 2 made it easy!  Literally, once we got the warrant to go into the property all the evidence was there on a plate 

Posted
30 minutes ago, Paninistickers said:

There's no way an ivy league lad would've been chosen as a convenient patsy. But.... something don't smell right. 

 

He either wanted to get caught. The perfect crime is boring. As you get no credit for it. 

 

But a McDonald's employee recognises a random dude off one hooded photo? Eh? That's like fantasy thinking. Like seeing Elvis in the supermarket. Seeing what you want to see. I ain't buying that. 

I'm not one for conspiracies - though I do like to indulge in fancy for amusement. 

 

I'm staggered with loads of elements of this that seem 'just so' about the whole process of this guy getting caught. It's certainly interesting and that recent picture of him in his cell does have me wandering about it all. Seems all a bit contrived.

 

 

Posted
2 minutes ago, foxile5 said:

I'm not one for conspiracies - though I do like to indulge in fancy for amusement. 

 

I'm staggered with loads of elements of this that seem 'just so' about the whole process of this guy getting caught. It's certainly interesting and that recent picture of him in his cell does have me wandering about it all. Seems all a bit contrived.

 

 

This was such a well planned getaway. Everything about the gun was well planned. Central Park with no cameras. The electric bike. The check in at an apartment the night before..

 

Yet he needs a McDonald's?! You'd either hunker down and lay low big time, make changes to appesrance (grow a beard prior and wear glasses or vice versa) or, just reappear in your normal life asap. 

 

Hanging out on the run with weapon and notes doesn't add up

  • Like 1
Posted
11 hours ago, Trav Le Bleu said:

A mansplaining masterpiece.

To be fair it was a stupid post in the first place.  Men are not responsible for female biology are they?  Its not a competition.

Posted
36 minutes ago, Paninistickers said:

This was such a well planned getaway. Everything about the gun was well planned. Central Park with no cameras. The electric bike. The check in at an apartment the night before..

 

Yet he needs a McDonald's?! You'd either hunker down and lay low big time, make changes to appesrance (grow a beard prior and wear glasses or vice versa) or, just reappear in your normal life asap. 

 

Hanging out on the run with weapon and notes doesn't add up

He seems a bit mentally unwell to me.

Posted
2 minutes ago, Jon the Hat said:

He seems a bit mentally unwell to me.

Either that or a severe personality disorder. He basically carried out an assassination, having apparently never done anything like that before, and is now being seen ranting and raving to reporters. Even the likes of Anders Breivik needed to drug himself up to the eyeballs before doing what he did.

Posted
1 hour ago, Dunge said:

Either that or a severe personality disorder. He basically carried out an assassination, having apparently never done anything like that before, and is now being seen ranting and raving to reporters. Even the likes of Anders Breivik needed to drug himself up to the eyeballs before doing what he did.

Brevik was on a different level, but yes.

Posted
1 hour ago, The Horse's Mouth said:

Really? Seems like a rational thing to do to whack a geezer you’ve never met 

He might have a genuine and understandable issue with his health insurer, but his parents are clearly well off enough to fund any treatment he might need, so I am not convinced of that.

Posted
7 hours ago, Jon the Hat said:

To be fair it was a stupid post in the first place.  Men are not responsible for female biology are they?  Its not a competition.

...but it did highlight the point that a lot of the problems men face are the responsibility of other men.

Posted (edited)
6 hours ago, Jon the Hat said:

He might have a genuine and understandable issue with his health insurer, but his parents are clearly well off enough to fund any treatment he might need, so I am not convinced of that.

Perhaps he was motivated by more than just self interest.

Edited by leicsmac
  • Like 1
  • Thanks 1
Posted (edited)

And with respect to the immigration debate, I'm inclined to think if a person has an issue with migration levels without considering a factor that will, if unchecked, make that issue an order of magnitude (or several) worse rather soon, then they're either not fully acquainted with the matter...or they are and their solution either way is to simply pull up the drawbridge and abandon a gargantuan number of human beings to their fate.

Edited by leicsmac
  • Like 1
Posted
9 hours ago, The Horse's Mouth said:

I’ve never got the huge fixation with the boats when the real issue is the amount who come in legally tbh, that’s what impacted cultural divides in areas 

I think a lot of people are unaware of the changes in our immigration regime a couple of years ago and just assume many of the immigrants they see from e.g. Pakistan or Nigeria are here illegally. 

  • Like 2
Posted
20 minutes ago, bovril said:

I think a lot of people are unaware of the changes in our immigration regime a couple of years ago and just assume many of the immigrants they see from e.g. Pakistan or Nigeria are here illegally. 

 

And the best bit is it was their hero Boris that let them all in...

  • Like 2
Posted
20 hours ago, davieG said:

Nice job if you can get it!

 

Thames Water boss defends exec bonuses as sewage spills soar

Lora Jones & Simon Jack
Business reporter and Business editor, BBC News
Published
10 December 2024, 07:49 GMT


The boss of Thames Water has defended executive bonuses as the firm calls for a hike in customer bills to ensure its survival.

Chris Weston said the supplier needed to offer "competitive packages" to attract talent, but the water regulator has previously said that customers must not foot the bill for "undeserved bonuses".

It comes as the embattled company saw a 40% increase in pollution incidents in the six months to 30 September, as its debts continued to swell, according to its latest set of results.

Thames approaches a critical moment next week, with Ofwat set to decide whether to allow a proposed 59% increase in consumer bills over the next five years.

The ailing business is saddled with debts which stood at just under £16bn at the end of September.

The firm has said customer bills need to rise or else it will not be able to recover from its financial crisis. However, if the company does collapse, water supplies will not be affected.

Water firms across the UK have faced a fierce backlash over sewage discharges and pipe leaks in recent years, but Thames has been in the spotlight given its debt pile, and the fact one in four people in the UK rely on it.

Critics have argued the water industry has historically neglected investment in favour of paying executive bonuses and shareholder dividends.

But on Tuesday, Mr Weston defended bosses getting £770,000 in bonuses.

"I completely understand that there are customers out there who struggle with their bills," he added, pointing to bills support offered to about 377,000 customers in the last year.

Mr Weston, who was hired in January, was also awarded a bonus of £195,000 for his first three months at the company.

The regulator Ofwat recently blocked three companies, including Thames, from using customer money to pay executive bonuses as bills have steadily increased.

 

 

Needs to be the next Post Office scandal. 

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