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Government Insanity or Sour Grapes?
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Posted August 15, 2012 at 2:03PM
Sir Richard Branson has attacked the "insanity" of the Government after Virgin Trains lost control of the prestigious West Coast rail line that it has run for 15 years.
First Group has won the contract with a bid some £750M less than Virgins, which Sir Richard believes will result in First Group losing money and the Government ultimately taking back control.
This is not unprecedented. GNER and National Express have previously been stripped of contracts after failing to meet their obligations.
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Posted August 17, 2012 at 8:13PM
"Firstgroup's share price fell after winning the bid. The market presumably thought they'd overpaid."
And that's significant.
Bookies and brokers are in the business of financial forecasting, and more often than not they are right (or they'd be out of business!).
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