Quote:
Originally Posted by Margaret Pilkington
and how exactly do you know that I am the only one on here who understood it? Have you actually canvassed the forum members? Boy that was quick!
As for translation...I do charge a fee. Well we OAP's have to make a quid(or few) somewhere.
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OK..what Tealeaf on about?.. apart from the last sentence?
1) This was/is a PFI style contract.
2) That involved not just design and build the trains, but also finance and maintain over a 30-year life cycle.
3) That meant the Frog-Kanuks had to have lot's of dosh up front to pay for the initial design-build phase.
4) Which means they have to borrow from the banks
5) But the banks won't lend 'em 'owt, because their balance sheet ain't worth a case of tinned dog turd.
6) Which means they were screwed from day 1 in the bidding process.
7) Which in turn means that if the Labour government had at the time had got their act togeather and put the tender documentation right, none of this nonsense would have arisen in the first place.