£30 million for freightliner bosses

30 June 2005

It emerged today that Freightliner chiefs intend to sell the firm for £96 million this week, thus bagging £30 million profits for themselves.

Freightliner has pocketed £75 million of taxpayer’s money to make the firm a success, enabling it to make £4.8 million last year.

Managers own a third of the company due to a buy-out arrangement that will leave Chief Executive Alan Galley and Finance boss Doug Downie £5 million each the richer.

National Organiser Andy Reed said the announcement underlined everything the union had said about rail ownership over the past decade. 

“This firm was part of British Rail, owned by and run for the people of this country. Since it was privatised, it has become nothing more than an asset to enable rich people to grow richer.

“The public have been robbed, and the last Conservative government stands accused of handling stolen goods.”

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