Networkail ^1 billion Pus Profit

[whole diary]

[eightf48544]

Would some kind accountant explain to me how Networkrail can make a plus ^1 billion profit. Thinking about this perhpas Lee should move it to "Smoke and Mirrors".

Presumably they underspent ^1 billion plus think how many 172s that would buy. Most overcrowding on FGW^▸ (First Great Western) would vanish.

[devon_metro]

What is Notwork Rail going to do with that? Don't they not have any shareholders??

They won't mind loosing the ^2 Billion subsidy that is planned for them then.

[eightf48544]

What is Notwork Rail going to do with that? Don't they not have any shareholders??

They won't mind loosing the ^2 Billion subsidy that is planned for them then.

That's the point no shareholders so it can only go against a reduction of subsidy.

But as I see it, it still means ^1 billion of work hasn't been done.

[devon_metro]

I quite agree, they don't run any profit making services to warrant a profit the way I see it and any profits should be ploughed directly into the railways. ^1billion would probably be enough to flatten Reading and totally rebuild it.

[swlines]

I suspect that ^1bn is mostly formed of delay minute repayments...

[Btline]

^1 billion could fund a TransWilts service.

[12hoursunday]

Presumably they underspent ^1 billion plus think how many 172s that would buy. Most overcrowding on FGW^▸ (First Great Western) would vanish.

Maybe, but they don't own or ever buy any trains (for now!)

[Electric train]

The profit is from the access charges levied against the TOC^▸ (Train Operating Company)'s n FOC^▸ (Freight Operating Company)'s the lower the level of delays attributed to NR^» (Network Rail - home page) the less NR has to refund the TOC's n FOC's part of it is paid to staff in the form of a bonus this year it is a bout 50% of the max, the bonus is calculated on train performance and renewals and other project delivery efficiency, the rest of the profit is rolled back into the industry.

[grahame]

^1 billion could fund a TransWilts service.

Yes, thanks ... for the next 3000 years as First are looking for 300k per annum.

[Lee]

Related link.
http://www.rmtbristol.org.uk/2008/06/network_rail_profits_on_time_a.html#more

[Lee]

The profit is from the access charges levied against the TOC^▸ (Train Operating Company)'s n FOC^▸ (Freight Operating Company)'s the lower the level of delays attributed to NR^» (Network Rail - home page) the less NR has to refund the TOC's n FOC's part of it is paid to staff in the form of a bonus this year it is a bout 50% of the max, the bonus is calculated on train performance and renewals and other project delivery efficiency, the rest of the profit is rolled back into the industry.

Staff will receive total bonuses of ^55m (link below.)
http://news.bbc.co.uk/1/hi/business/7439272.stm

[Lee]

Unions and MPs^▸ (Member of Parliament) from all parties have questioned Network Rail's decision to pay ^55m in staff bonuses (link below.)
http://news.bbc.co.uk/1/hi/uk/7441326.stm

[Electric train]

Unions and MPs^▸ (Member of Parliament) from all parties have questioned Network Rail's decision to pay ^55m in staff bonuses (link below.)
http://news.bbc.co.uk/1/hi/uk/7441326.stm

It would seem ok for MP's to have uncontrolled expenses system but they object to the employees of NR^» (Network Rail - home page) being entitled to a bonus many of who work very hard with the TOCs^▸ (Train Operating Company) n FOCs^▸ (Freight Operating Company) and many others to keep the big Hornby set going each day, the cockups at xmas were well out of the control of 99% of NR's employees