Thames Water's Executive Bonuses Were Almost a Joke
Thames Water said Tuesday it would ' pause ' the plan after a backlash from the Labour government, which had signaled an intention to block the payments. The bonuses, disclosed to a parliamentary select committee last week, are related to a potential £4 billion ($5.3 billion) investment in Britain's largest water and sewerage company by KKR & Co. Their divulgence was never going to land well for a utility that's justifiably regarded as a national disgrace. Thames has a poor pollution record, was saved from collapse this year only by a £3 billion emergency loan, and is now raising customer bills by more than 30%. Whatever the justification, bonuses for the people running such an enterprise look like rewards for failure.
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