FirstGroup boss admits 'we underestimated demand' on FGW franchise
Challenged this morning at 0833 in The Business News with Greg Wood on BBC Radio 4's 'Today Program', Moir Lockhead, Chief Executive of FirstGroup admitted: "we underestimated demand" on the FGW contract.
Moir Lockhead said quite a few other things, but as I was too busy trying to stop coffee going into my lungs and spraying my 5 fruit for the day all over the portable radio in my kitchen, I didn't have time to grab a pen and write it down.
Hopefully, the interview with Moir Lockhead will available as a "Listen Again" file on BBC Radio 4's website here, so that you can go and listen for yourselves later - there seems to be a time lag of about an hour between transmission and archiving.
Greg Wood's interview was trailed by a lot of PR spin about 'the biggest investment ever in Brunel's wonderful railway', which supposedly refers to FGW's re-engineering and refurbishment of the HST fleet. But that was just the taster to allow Moir to be interviewed by the business correspondent rather than the political correspondent - who might have asked some more difficult questions about how on earth the Department for Transport officials could allow a private company bidding for a rail franchise to be responsible for estimating demand. I mean, isn't there a slight conflict of interest there? Clue: bidding companies for franchises aren't responsible for estimating demand, that's supposed to be the job of the DfT.
A few minutes into the interview Wood stopped asking Moir the PR-scripted questions about FGW's new 'green' HST engines and 'leather interiors' and bowled him his flipper. Roughly it went: "Yeah well if everything in the FGW garden is so rosy, Moir, how come you've withdrawn 20-odd train units and your passengers in Somerset and Wiltshire are planning a fare strike in protest at the overcrowding and level of train cancellations?"
To which Moir responded: "We underestimated demand". There you have it, that is known as chutzpah! Just in case anyone missed it he repeated the same phrase a few minutes later.
I suggest the full interview would be worth listening to and transcribing because Moir Lockhead went on to make a number of additional rather important statements about investment and work going on with Network Rail.