I had a little What The Fuck moment a few days ago.
You know those moments? You are reading the paper when you find a wee article that causes you to pause and mutter “What The Fuck?”
I know a little bit about business. You invest some money in the company and with a bit of luck you make profits. If you run your business properly, you will continue to make profits, of if you fuck up, you make a loss. Sometimes, due to influences outside your control, you take a bit of a beating and that is the name of the game.
But supposing you are a private company, that has a contract with the gubmint that states that if you run into the red, that the state will step in and make up the loss? That would be pretty sweet, wouldn’t it? While the profits roll in, you sit back with your cigars and Champaign and enjoy the ride, but if there is a downturn you know the tax payer will step in and stop you making a loss?
Nice fucking work if you can get it?
This apparently is what is happening. The item that elicited my “What The Fuck” response was about our toll roads losing money because the level of traffic had dropped. Apparently revenue is down everywhere except Dublin.
“But don’t worry,” says our gubmint. “If you go into the red, we’ll step in and make up the difference. The taxpayer will never notice a few million going into propping up a private company.”
So if times are good, you rake in the profits and keep ‘em.
If times are bad, the taxpayer foots the bill.
Talk about a win-win?