This train has been cancelled. This is due to no decent management being available.
Well it's nearly Christmas, 2012 and First Capital Connect is still here. No surprises there..
Before we go any further, please note that this entire site is now dedicated to the tremendous book and work overall of the wonderful Matthew Engel, author of: 'Eleven Minutes Late: A Train Journey to the Soul of Britain'. A proper, inspiring, grown-up writer.
Moving swiftly on, check out the below (it won't take long and there are a few pictures) and you'll:
SEE Elaine Holt, the ex-MD of First Capital Connect, LAUGH at evening peak restrictions
READ how much 'the cattle farmer' Sir Moir Lockhead, ex-CEO of FirstGroup, got paid
LEARN exactly where all the money you pay to travel to work (in theory at least) goes.
To celebrate the current extra-special descent into disorganised chaos, you can now:
CONTRIBUTE to this site anonymously via the First Crapital Forum thingy
Everything on this site is accurate and verifiable, mostly by the published words of the ex-MD Elaine Holt and current CEO Sir Moir Lockhead themselves. All media references included. I regularly take in corrections and amendments when they come my way, so don't be shy, just dive in. I'm not precious.
FirstGroup rail profits hit record level
First defended the soaring profits at a time of above-inflation rises in rail fares by maintaining that most of the increase in revenues came from higher traffic levels.
(See the original here)
FirstGroup profits rise with fuel prices
Chief executive Moir Lockhead said the Aberdeen-based group was witnessing a 'modal shift', driving millions more people on to trains and buses.
(See the original here)
And finally, TO CAP IT ALL, from Reuters news agency:
Cazenove analysts said FirstGroup has delivered 'a solid set of first-half results in line with our expectations and demonstrating strong growth. 'FirstGroup remains our favoured pick in the sector given its low exposure to rail activities, which we view as the most economically sensitive aspect of public transport activities.'
Did you get that? FirstGroup has: a low exposure to rail activities
Marvellous news eh? FirstGroup annually announces record-breaking profits and is the investment analyst's dearest darling because it's not over-exposed to rail activities.
That just about says it all.
Demand for public transport drives FirstGroup
Now, please put down any hot drinks you might be holding before reading this next bit, how on earth can the above-illustrated massive profitabilty result in me reading THIS in The Guardian in early November 2009:
The owner of four of Britain's largest rail contracts said its First Capital Connect (FCC) and First Great Western (FGW) businesses would collect multimillion-pound payments after falling short of revenue targets. The full feature is here
' I had a chance yesterday to test my long-standing thesis that FirstGroup, the rail and bus operator, is the worst company in Britain. I suggested writing my column about it – and a gratifying chorus of hatred swiftly arose from all my colleagues. "Are they the b------s that run the Thameslink line? Go get 'em!" was the general consensus.'
Back to the start of 2009 when I thought FirstGroup and First Capital Connect warrented more research. Thanks to the magic of the Interweb, you don't have to try too hard to get an awful lot of background on First Capital Connect, so here goes.
This won't be too long, boring and nerdy and as mentioned above, I'll throw in a few pictures. Also please note that this is NOT a blog. Honest. please trust me on that.
First Capital Connect - The Facts >