Poor old Richard Branson. Last week he was bemoaning that regardless of the outcome of his bid for the Northern Wreck, the whole affair had already set him back millions in legal and consultancy fees etc. Hardly in a pickle for money, Branson will be topping his bank balance up with a £48 million shared dividend cheque courtesy of Virgin Trains. As the fat controller of the less than prompt train group, he has overseen a 4.8% increase in ticket prices for this year, together with a 9% increase for first class travellers. Oops, almost forgot to mention, he has also trousered £1 billion in rail subsidies in the last decade. However, in return the public has received……… some of worst punctuality rates for trains, particularly the West Coast and Cross Country lines.
Is this really the type of man who should inherit what is left of Northern Rock? I don’t think so, do you?