Adrian Stott wrote: > With a sufficient endowment invested in real estate, BW would have > enough income from it (coupled with its other business income and user > charges) to run the waterways, income that would adjust automatically > for inflation.
If BW had managed in the past to set up sufficient real estate to generate enough expected income to run the waterways, what would have happened now, in the depths of a recession, where their income from property has dropped below the expected levels? How would the shortfall have been made up? [snip] > OTOH, Tony Hales has said that, despite BW's current notional > independence as a nationalised industry, he was recently heavily > pushed by THFTM THFTM? Wossat? > to consider closing the HNC to save maintenance costs. BW has, in effect, closed the HNC for six months by not bringing forward a planned repair when the structure in question failed before the long-put-off repair could take place. -- Martin Clark Pennine Waterways Website http://www.penninewaterways.co.uk
