FirstGroup

LT586

SimJourneys Defunked
Oct 25, 2016
492
Sadly the friendlies aren't in charge, its usually the case with managers lately to be fair, the ones doing the work are friendly most of the time
 

Hullian111

bruh momentum
Aug 5, 2017
570
Update on that story: the vote failed, but Chairman Hauser is leaving.


Coast Capital Management, which holds about 10% of the FTSE 250 transport firm's shares, had been pushing for a clear-out of company directors, including Wolfhart Hauser, and an exit from its loss-making UK rail operations.

It had tabled a series of votes at an extraordinary general meeting though they failed to gather majority support despite Sky News reporting backing for the removal of Mr Hauser from fund managers Schroders and Columbia Threadneedle Investments.

Collectively - they held a combined voting power of almost 30%. Mr Hauser secured backing from 70% of those who voted.

But moments after the company declared victory, it confirmed in a further statement that Mr Hauser had decided "it was time to move on" and would not stand for re-election at the next annual meeting.

Coast told Sky News it was "pleased" by his departure and saw a more "fruitful" future ahead.

Its statement added: "We will bring forward in the near term, a programme designed to maximise shareholder value and secure a prosperous future for FirstGroup."
From a Stagecoach territory enthusiast's perspective, things still sound a little unclear. But with the recent sale of First GM's Queen's Road depot, things still aren't looking peachy for First. We'll have to wait and see what happens...
 

Ecronbuses

YN58 BCU | Scania K230UB OmniLink | FL: 55
Feb 11, 2018
715
Favourite Truck
Scania
It will be interesting to see wether or not independent operators will try and fill the gap.
I’m hoping they will, as it’s always nice to have a bit of variety.
 

Hullian111

bruh momentum
Aug 5, 2017
570
Are Diamond part of Go-Ahead? It appears that Diamond took a bunch of MetroBus’ OmniDekkas!
Nah, Diamond are owned by Rotala. Diamond like buying whatever second-hand buses they can get, it seems, and then promptly running them into the ground.
 

Ecronbuses

YN58 BCU | Scania K230UB OmniLink | FL: 55
Feb 11, 2018
715
Favourite Truck
Scania
Nah, Diamond are owned by Rotala. Diamond like buying whatever second-hand buses they can get, it seems, and then promptly running them into the ground.
Thanks for the info!
Rest in peace beautiful ‘Dekkas
 

Enviro400Taco

that annoying one from Leeds
Oct 30, 2016
1,760
Favourite Truck
Scania
First Greater Manchester's Bolton depot is being sold to Rotala lmao...

This comment on the FirstBus Enthusiasts page on Facebook should help explain the vehicle situation:
Rotala to lease 125 vehicles from First initially to service the new routes, with vehicles being replaced progressively by the Group in the next two years, leading to lower maintenance costs and fuel efficiencies.

So basically First are leasing the vehicles to Rotala but First will get to keep them in the end. I think?
47801
 

LazyGuy222

Roblox Name:CS7C3D
May 7, 2016
922
Dear god, it's a shame First are going. They were a great company. I myself love first, and when they finally sell up in Leicester, it'll be sad times.
 

Enviro400Taco

that annoying one from Leeds
Oct 30, 2016
1,760
Favourite Truck
Scania
Dear god, it's a shame First are going. They were a great company. I myself love first, and when they finally sell up in Leicester, it'll be sad times.
I highly doubt they'll sell up in Leicester. The only reason Manchester is going is because it's making the biggest loss in all of FirstGroup. The only reason Glasgow is going is because the Scottish Labour people want all of Scotland's buses to be owned by the same thing iirc.
 

LazyGuy222

Roblox Name:CS7C3D
May 7, 2016
922
I highly doubt they'll sell up in Leicester. The only reason Manchester is going is because it's making the biggest loss in all of FirstGroup. The only reason Glasgow is going is because the Scottish Labour people want all of Scotland's buses to be owned by the same thing iirc.
First is major in Leicester, but Arriva are bigger. They still are doing better than in many places across the country. I have a feeling Devon will be completely sold out next. Maybe WoE after?
 

Moskie

Well-Known Member
Jan 16, 2016
101
First is major in Leicester, but Arriva are bigger. They still are doing better than in many places across the country. I have a feeling Devon will be completely sold out next. Maybe WoE after?
You're a touch late considering they haven't operated in Devon for a number of years...

Besides, this isn't hunch based... First are in a lot of debt and are jettisonning businesses that are not paying their due - whether it be that they tried, or let it rot in the first place.

In the case of the First Manchester business, quite frankly (and this comes from internal experience), it's good it's going into other hands because the mess that management made of the Manchester business is abhorrent - it's left many low car ownership areas without a bus service past 9pm, and when (if) it does run, the reliability is shocking.

In the story of First Manchester, the only thing to blame is bad data management, poor planning, short-sighted decision making, mistakes made in the earlier days (Gold Service network streamlining), they didn't have a backbone when it came to unions/politics, I don't think I need to go on anymore, but the run-up to present day was an absolute sh*tshow. Trust me, it's better this way - even if it's... Rotala 🤢
 

FirstEnviro

Creator of the E400 MMC and Bristol Airport map.
Nov 1, 2016
711
First is major in Leicester, but Arriva are bigger. They still are doing better than in many places across the country. I have a feeling Devon will be completely sold out next. Maybe WoE after?
WoE are profitable, Manchester were not. I doubt First will be willing to drop off WoE any time soon, plus it would be difficult to do so due to the size of the division. Manchester are being sold off because they were in masses amounts of debt which they could not climb out of.
 

georgeloxton02

I am making a Plaxton Premiere!
Apr 20, 2018
706
WoE are profitable, Manchester were not. I doubt First will be willing to drop off WoE any time soon, plus it would be difficult to do so due to the size of the division. Manchester are being sold off because they were in masses amounts of debt which they could not climb out of.
Thank goodness WoE may be staying , I can't imagine the city of Bristol full of different companies or worse stagecoach
 

FirstEnviro

Creator of the E400 MMC and Bristol Airport map.
Nov 1, 2016
711
Thank goodness WoE may be staying , I can't imagine the city of Bristol full of different companies or worse stagecoach
It already is, it's just First have the majority. Stagecoach, CTPlus, Abus all operate within Bristol.
 

0118999

Do'er of administrative things
Administrator
Premium Subscriber
Oct 24, 2016
548
First is looking to jettison loss making UK depots to rivals, then selling off the entirety of what's left of it's UK bus ops in one go or floating it as an entity independent of First Group which is refocusing on USA operations at the behest of its shareholders.
 
  • Like
Reactions: Transit UK980