Nationwide Bus and Rail company FirstGroup gets 50% of its revenue from tax payers but it became the “second-worst performing stock in the FTSE 100″ yesterday. This clearly indicates that while UK government places great faith in the merits of travel by buses and trains, and expects public use of them to continue growing, investors in stocks and shares have no such faith or expectations. The crashing trend in FirstGroup shares accelerated following revelations in the US that despite the credit crunch, revenue from its ‘cheap’ and cheerful Greyhound bus service dropped by 4.5% in its third quarter of operations. So, if investors are running away from such companies, why do our governors and their vogue transport policy ‘experts’ in Britain remain wedded to a belief that modal shift to buses and trains is the best and most likely thing for the public to do? See what the Independent, and Guardian have to say.
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