"Taken for a ride" : the provatization of the UH railway rolling stock industry
By: MCCARTNEY, Sean
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Contributor(s): STITTLE, John.
Material type: 
ArticlePublisher: Oxford : Blackwell Publishers, April 2008Public Money & Management 28, 2, p. 93-100Abstract: The three UK rolling stock companies (ROSCOs) are a product of the privatization of the railway industry in the 1990s. As the UK approaches the 25th anniversary of the first privatization of a state-owned industry (telecommunications), this article evaluates the background and the structure of the ROSCO privatization sales. The authors show that the privatization of the UK's rolling stock industry was a significant triumph of political expediency over sound governmental financial policy. The ROSCOs have attracted relatively little attention, yet nowhere else have the flaws in the privatization process become more apparent
The three UK rolling stock companies (ROSCOs) are a product of the privatization of the railway industry in the 1990s. As the UK approaches the 25th anniversary of the first privatization of a state-owned industry (telecommunications), this article evaluates the background and the structure of the ROSCO privatization sales. The authors show that the privatization of the UK's rolling stock industry was a significant triumph of political expediency over sound governmental financial policy. The ROSCOs have attracted relatively little attention, yet nowhere else have the flaws in the privatization process become more apparent
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