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216 comments on DrumBeat: August 17, 2006

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fallout on August 17, 2006 - 10:48am Permalink | Subthread | Parent | Comments top
Oh, "Piratization" (as I prefer to call it) is a big theme amongst TPTB. Especially privitazation of what was once public domain. In the olden days, they used a more quaint terms, 'stealing'.

I wouldn't be surprised to see it happen, despite (or even because of) the stupidity of it.

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Don in Colorado on August 17, 2006 - 11:00am Permalink | Subthread | Parent | Comments top
Piratization was the plan for Russia, until Putin showed up and started arresting "oligarchs."
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Siggi on August 17, 2006 - 11:10am Permalink | Subthread | Parent | Comments top
The German government still owns 100% of Deutsche Bahn AG, the German railway company. According to the German constitution, the government has to keep 51% of the shares.

The government is always short on cash, so there are plans to sell 49% in an IPO.

The debate is if only the trains should be privatized, or the whole company, including railway stations and tracks.

The CEO lobbies that the whole company should be privatized. However, in the last 20 years, about 50 billion dollars have been invested into high-speed tracks and stations by the tax payers. Compared to that number, revenues and profits are tiny.

The CEO and the union think that the 49% of the company should be sold for 2 billion dollars, so that there is a suitable ROI.

I would call that piratization. Hopefully, the parliament is smart to reject such ideas.

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Nagorak on August 22, 2006 - 1:50am Permalink | Subthread | Parent | Comments top
That is still the plan in Russia.  Putin just took control for his own chosen cronies instead.  
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tom deplume on August 17, 2006 - 11:53am Permalink | Subthread | Parent | Comments top
Privatization is just another form of welfare for the rich.
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216 comments on DrumBeat: August 17, 2006

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