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Wednesday, October 20, 2004

Tube profits soar - but by how much?

50 million quid or a 100 million quid

Depending on which paper you read (
Evening Standard - �100 million) or which media you watch or listen too (BBC - �50 million), Tubelines & Metronet are making a fook or a lot of money whichever figure you believe.

I know it's slightly inane to say where is it all going - some fat cats pockets (the chief exec of Metronet gets paid �552,000 a year) - but have we really seen any major improvements to the tube since the public private partnership changes?

As far as I see on my journeys there are no extra trains, they're not particularly any more efficient.

"Tube Lines - (one of private maintenance firms) - announced it had its best quarter-year performance since it took over the lines.

But it added signal failures rose by almost 50% from 22 August to 18 September, compared with the same period in 2003
."

And yet only last week Sheriff Ken Livingstone announced that Tube fares would have to go up over the next five years to help fund extra investment - D'OH, D'OH, D'OH


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