Thanks to the various people who sent emails about Metronet's woes - and almost to a person they said "try not to laugh too much". By the end of tonight or tomorow we'll find out if there as a last minute rescue attempt or whether the boys will be sent in to close Metronet down. One way or the other it appears as though it's not going to make a big difference to us as commuters - even though Metronet is responsible for maintaining the Bakerloo, Central, Victoria, District, Circle and Metropolitan lines.
However, TfL rather than Metronet would probably be left to pick up the bill for any overspending on maintenance or renovation work. Currently it's estimated that there will be an overspend of as much as £2bn by 2010 - and ultimately whether it's TfL or Metronet we'll be feeling the effect on fare inceases.
Obviously both organisations are blaming each other for the overspend - TfL as saying that Metronet are mismanaged and failed to control costs. Metronet's response is that London Underground & TfL have changed the specifications outlined in the contracts and asked for higher quality work and more expensive upgrades.
Metronet's website is tightlipped about the situation, so for the moment it's a case of keeping an eye on the news.