No truck with public ownership
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The news that Foden have placed their dependence on thE shareholders rather than on part public ownership h probably more significance than is at first apparent. TI ready acquiescence of the banks to raise the necessary £3 to tide the company over is a fair barometer to the country economic future.
The City will be looking for a turn-round in Foder fortunes in about 18 months' time. This must mean th the firm will have encouraging order books from its cu tomers—the operators who buy vehicles only if there an unfulfilled demand to move goods. Support for Foci( is therefore a good sign.
Just as significant was the company's ability to steer cle of part public ownership and the anonymous collecth irresponsibility which that appears to breed. The transpo industry is under constant threat of public ownership whi( must be resisted unless the taxpayer is prepared to pick t another bill in the interests of nationalisation. The best Nxbr to win public support against any form of public ownersh is to encourage personal, identifiable responsibility in one employees and stimulate pride in one's product or crai This will pay off handsomely when the would-be publ owners come knocking on the door.