Tuesday, 19 January 2010

First for fast staff turnover

Exciting news from FuCC.

The doomed TOC has a brand new MD!

One Neal Lawson.

Here his page from professional networking site Linkedin.

But what's this?

Apparently our Neal has been MD of FuCC for a whole 'nine' months!

Clever of Mary Grant to put Neal into the firing line a mere week into his new job!

Pssst - want to buy a Rosco, going cheap

So HSBC is still trying to flog its rolling stock leasing division (Rosco).

This from Project Finance Magazine:

Bidding consortia are forming for the sale of HSBC's UK rolling stock portfolio. The bank, which owns around a quarter of the UK's rolling stock, is said to be putting together a staple financing, where the seller offers a pre-packaged acquisition finance plan to potential buyers.

As HSBC Rail (nee Eversholt) was originally set up to be the electric train Rosco the decision to increase the number of route miles under the wires must add something to its potential value.

Although the greatest risk to HSBC's fleet portfolio was DafTs insane idea to seek early replacement of the highly reliable East Coast IC225 fleet with the Frankenstein Train.

But as the IEP is now hurtling to oblivion, bidders must be queuing up to take a punt.