... INCREASING IT'S FARES!
Of course a responsible commercial undertaking must ensure that its finances are in good order to keep its shareholders happy, to keep the grey suits of the Stock Market happy and, of course, to try to convince Apollo Global Management that its generous bid for First's shares is not generous enough!
As of August 2017, Apollo managed over $232 billion of investor commitments across its private equity, credit and real asset funds and other investment vehicles making it the second largest US-based alternative asset management firm. Among the most notable companies currently owned by Apollo are Claire's, Caesars Entertainment Corporation, CareerBuilder, Novitex Enterprise Solutions, and Rackspace.
Passengers? Positive Publicity? Buses for Sheffield?
First have published details of the increases which, in some areas, seem punitive.
Why, then, would you pay £4.40 for a First Bus only day ticket when for ...
Expect increases in the Stagecoach Dayrider and the all operator CityWide in a month or so!
Collusion, what collusion?
But that Happy App offer does not appear to apply to single fares.
£1.50 to £2.00 - 33.3 (recurring!) per cent.
£2.50 to £3.00 - 20 per cent
O.K., First Bus are moving on to a coarser fare structure BUT ...
Surely the best PR is to REDUCE some fares and increase others to create the "coarse" scale? But then what happens? Do increases then go in £1 leaps? That can be really painful. The alternative, of course, is to change the fare stages, just a Flanders and Swann expounded all those years ago. (the show opened on 31st December 1956).
Some weeks back the Rail Delivery Group (used to be more sensible called the Association of Train Operating Companies) realised that rail fares in the UK are too complicated.
And that passengers are not necessarily getting the cheapest fare.
And that there are 15 million different fares in the UK. (Who's counted them?)
And you can (sometimes) get better value by busing split tickets.
So they are having a consultation.
Unconcerned about being poisoned, Mrs fbb took a day return to Salisbury a week or so back. Day Return £17.95
There are thousands of such stupidities, so why not simply get rid of them; delete them from the database, and destroy the pointless data in the usual matter, Mr Phelps.
Of course we all (and that includes the RDG) know that the fares structure needs a complete re-think, not just silly tinkering with names and availability. It is HIGHLY unlikely that this "consultation" will change anything because any change will muck up all the franchise contracts.
And they are in a big enough mess without trying to make sense of the fares. Yesterday came the shock (NOT!) announcement that the East Coast franchise was being taken back into public ownership AGAIN; and it is no secret that South Western Railway, Northern and Trans Pennine are all struggling to make the books balance.
Surely the current franchising "model" is no longer fit for purpose?
fbb's fares suggestion appeared in a blog back in February 2017 (read again).
Offered, as then, for no fee whatsoever!
But, be warned good reader, The RDG has made it clear that any changes will NOT result in any fares reductions overall.
Slight blogging brevity due to being away all day yesterday on Isle of Wight for a funeral Service of Thanksgiving.