[lbo-talk] London Underground's Privatization Experiment Dead as Remaining PPP is Bought Out

[123hop at comcast.net]

The part of the privatization story that no one seems to get, is that it's supposed to fail.....after a bunch of public money disappears into private pockets. 

You'd think that seeing this pattern repeat itself often enough would clarify....but as I keep saying: it's not an economic problem; it's a political problem. 

Joanna 

----- Original Message ----- 
From: "Jordan Hayes" <jmhayes at j-o-r-d-a-n.com> 
To: "LBO" <lbo-talk at lbo-talk.org> 
Sent: Wednesday, May 12, 2010 11:53:33 AM GMT -08:00 US/Canada Pacific 
Subject: [lbo-talk] London Underground's Privatization Experiment Dead as Remaining PPP is Bought Out 

"Former London Mayor Ken Livingstone sued the government twice in 
the early 2000s to prevent the full-scale contracting out of 
maintenance and work on the London Underground, which then-Chancellor 
of the Exchequer and soon-to-be-former Prime Minister Gordon Brown 
imposed on to the city beginning in 2003." 

[...] 

"One of the largest forays into re-privatization of a public 
transportation 
entity in the West has come to an end, less than a third of the way 
into 
what was supposed to be a thirty-year commitment." 

[ ... more at ... ] 

http://www.thetransportpolitic.com/2010/05/11/london-undergrounds-privatization-experiment-dead-as-remaining-ppp-is-bought-out/ 

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