Sunday 3 May 2009

"A villian forever more"

The Sunday Times is reporting that National Express is moving to a 'management contract' on its East Coast franchise

National Express has struck a deal with the government to abandon its east-coast train franchise, which should prepare it for a 400 million pound rights issue and a boardroom reshuffle.

Time for some wise words courtesy of the Daily Telegraph, 15th August 2007...

"We have had a very simple bidding philosophy,'' said Mr Bowker. ''We will not bid at levels we think are unsustainable or undeliverable - there's no point in being a hero for a day and a villain forever more afterwards."

Will NX shareholders take the same view?