Taking Stock - Bloom shunted into new job.
So Railtrack’s finally gone the way of all flesh. Surprise surprise.
With more than #3bn worth of debt it was only a matter of time before the Railtrack crew were told it was the end of the line.
But a wry smile crossed the face of TS this week when we noticed who is to be administrator of the stricken rail operator – none other than Alan Bloom, Ernst & Young’s corporate undertaker extraordinaire. Bloom you’ll remember is the man who put more than five years into the liquidation of Barings Bank before recently being ousted by creditors. Back then he told us he’d have ‘time on his hands’. Not now Al.
On the same issue many of the papers rushed to point out that Nick Montagu, chairman of the Inland Revenue, headed the project team that brought privatisation to the railways. Pity the poor accountants who wrestle with tax returns and commute by train. ?: