This train has been cancelled. This is due to no decent management being available.
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, CEO of FirstGroup, gets 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)
Demand for public transport drives FirstGroup
Unveiling a 56.6pc leap in first-half revenue to 2.8bn, Sir Moir Lockhead, chief
executive, said he was confident that
passengers would remain reliant on public transport.
Today (Nov 2008) Sir Moir said: 'We are making small acquisitions in the North US all the time - bolt on acquisitions. That will continue. With our free cash we will reduce debt.'
(See the original here - I'm not making this up!)
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.
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
At the start of 2009 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 >
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