Rail Privatisation: Financial Implications

INTRODUCTION My aim in this brief paper is not to argue the case for or against privatisation, but rather to comment on the likely financial implications of some of the options. Nevertheless, it does not seem possible to do this without briefly reviewing the advantages and disadvantages that are claimed to flow hm privatisation. I will then consider the existing organisation and financial performance of British Rail. Following this, I will discuss alternative ways of achieving the necessary level of profitability for private investors to be interested in owning and operating the railway system

Rail Privatisation – How Is It Going?

The 1993 Railways Act provided for the privatisation of British Rail in the form of franchising of passenger services and outright sale of all other parts of the business. The privatisation was unusually complex, with the existing single organisation being divided into more than 80 separate companies, the intention being to create competition not just in the form of competing train operating companies, but also for the supply of services such as rolling stock and track maintenance, wherever possible. The aim of this paper is to review events since the process of rail privatisation in Britain really started in April 1994. It is based partly on the publications of the relevant bodies and the technical press but partly on conversations with those in the industry. It is divided into five sections, looking in turn at Railtrack and the ROSCOs, the passenger franchising process, the freight sector and other businesses before seeking to draw some overall conclusions

Appraisal of Rail Projects.

This paper reviews the particular characteristics of rail investment projects, taking as a starting point four examples ranging from decisions on individual routes to national rail investment programmes. The motivation for rail investment, and the interdependence of projects are examined, before turning to the identification of base case and options and the measurement of costs and benefits. It is argued that the main problems in rail investment appraisal are not technical ones relating to measuring costs and benefits but are contextual ones relating to the interdependence between rail projects and with decisions in other sectors of the economy. For this reason it is essential that rail projects be appraised with an appropriate planning framework

Electric Shadows (Dianying) *

Catalogue Essay on Isaac Julien's installation "Ten Thousand Waves". Probably also included in catalogue for Isaac Julien exhibition Sao Paulo Autumn 201

Introduction - Professor Jim Rhodes, Founding Editor

This special edition of the Journal comprises the collection of papers presented at a conference held at the University of Strathclyde, Glasgow, to celebrate the work of Professor Jim Rhodes. The conference theme, Thin Walled Structures, encapsulates the technical field in which Professor Rhodes has been at the forefront for over 40 years. Indeed, it is appropriate that the conference bore the same name as the present Journal, which Professor Rhodes founded in 1983. The special event, held over 2 days, focussed on five specific technical themes, which Professor Rhodes has contributed to over the years, namely Cold Formed Steel (6 papers)-Chaired by Dr. Martin MacDonald, Glasgow Caledonian University; Buckling and Thin Walled Systems (7 papers)-Chaired by Professor Joe Loughlan, Loughborough University; Impact and Dynamical Systems (5 papers)-Chaired by Dr. Marcus Wheel, University of Strathclyde; Composites (5 papers)-Chaired by Professor William M. Banks, University of Strathclyde; Plates and Shells (9 papers)-Chaired by Dr. David Nash, University of Strathclyde

The Case for High Speed Rail

There is currently a wave of high speed rail proposals sweeping through Europe, amounting to some 7000 route kilometres of new construction and 8000 of upgraded track and costing of the order of 58 billion ecu (in 1985 prices). There is therefore an urgent need for a careful assessment of the costs and benefits, both of the network as a whole and of the individual component parts of it. The principal benefits of high speed rail are taken to be the revenue, traffic and time savings it generates; relief of congestion , accidents and environmental effects of other modes of transport and its alleged local and regional development benefits. Clearly many of these benefits depend on how far it really does divert traffic from these modes as opposed to generating totally new trips. At the same time, high speed rail schemes have significant environmental costs. Evidence on all of these issues is examined, and it is concluded that the evidence for environmental and development benefits is limited, although in the former case in particular much depends on the exact circumstances. Given the wide variety of options in terms of speeds and mix of upgrading versus new construction, careful appraisal is very important, and a traditional transport cost-benefit analysis and environmental impact assessment appear well equipped to capture the main costs and benefits. The conclusion is that there is likely to be a good case for a core network linking the major cities of Western Europe in the middle distance range, but beyond that, upgrading of existing infrastructure and development of new technology may provide a more cost-effective solution

Word Repetition in Danish: Jeg Mener \u27Saeg\u27 Ikke \u27Skaeg\u27 (I mean \u27Funny\u27 not \u27Beard\u27)

A notable feature of language is the use of the same word to communicate different meanings. The first example that comes to mind in English is still. I am aware of at least three meanings (1) when something is motionless or at rest, (2) apparatus used to distill alcohol, and (3) the adverb still which means \u27as yet\u27 or \u27up to this time\u27 (for example, \u27are you still there?\u27)

Rail infrastructure charges in Europe

This paper reviews results of a survey of rail infrastructure charges in Europe, presenting evidence on the structure and level of charges across 23 countries, and on the rationale behind the charges. A wide variety of both structure and level of charges is found, and it appears there is a range of explanations for this, including differences in the nature and mix of rail traffic, differences in the willingness and ability of governments to provide subsidies, and continued lack of consensus on the measurement of the marginal cost of infrastructure use. Recommendations on a sensible structure for rail infrastructure charges are given, although the need for further research is also acknowledged. The diversity of approach poses problems particularly for international rail freight, and there is a strong argument for the development of a specific set of international rail freight tariffs