Thursday, 17 December 2009

Mystic Wolmar on the ball. Tube Lines not.

Telegrammed by our International Correspondent
Mystic Wolmar's crystal ball is working well these days.

On the 13th December he predicted the demise of Tube Lines, the other half of the dead and rotting PPP Siamese twin, Metrodebt.

Lo and behold today Regulator Bolt obliged, favouring LUL's projected £4 billion to Tube Lines demands for £5.7 Billion, creating a new £1.3 billion funding gap for Tube Lines' lucky owners - Bechtel (no laughing at the back) and Gruppo Ferrovial, or a descoping of the work the PPP delivers or, as is most likely, a windfall for Sue Grabbit & Runne.

Say goodbye to more accessible stations on the JNP network, new trains for the Piccadilly Line. And a big cheery welcome to a lot of empty desks at the glitzy Westferry Circus Tube Lines HQ.

Tube Lines was not happy and Dean Finch, outgoing CEO told financial news agency Bloomberg "A settlement at this level is not conducive to private- sector involvement in the Underground, nor does it reflect the reality of the Underground working environment".

Strong words from a man already leaving the troubled world of PPP for pastures new at errrr.... doomed National Express.