Seeing Red
Just before seven o'clock this morning I switched the radio on and caught the last few comments from a representative of BW on the Today programme. In response to the interviewer's question regarding sources of funds he said that BW raised considerable funds from property and other commercial activities.
BW ought to invest in a colour printer so they can see the red figures on their accounts. They seem blind to the fact that they lose money on most of their commercial activities. Their partnership with Scottish & Newcastle Breweries to exploit their pub portfolio. According to www.narrowboatworld.com, in the four years of this partnership BW has lost £22m. Their investment in Gloucester Quay has just been written off - another £33m. So where is this considerable income coming from?
There are two concerns here:
Firstly how can the management of BW be trusted if they are not honest in their public statements?
Secondly why did the BBC undertake an interview without doing any research? Their action reduced them to nothing more than part of the BW propaganda machine.