Guy in Receiver's Hands: No Comment on Future
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BY THE EDITOR
NOT unexpectedly, there was no comment from Guy Motors, Ltd., after Lloyds Bank appointed Mr. S. V. Lancaster as official receiver and manager this week. Operators of Guy vehicles have been questioning The Commercial Motor about the spares and servicing question. "Will someone carry on? ". they have been asking.
1 regret to say that I can offer no firm statement. Despite protracted efforts by The Commercial Motor, all I can report front the receiver is: "No comment." It was not possible to speak to the official receiver, but we were told by a Mr. E. R. Jeynes: "It is much too early to make a statement."
However, despite Mr. Lancaster's understandable inability to make a statement. I feel that operators of Guy vehicles should not worry unduly. Informed sources have indicated to me that the chances of Guy Motors continuing in production, in one form or another, are good. But even if this forecast is wrong, someone would certainly find it worthwhile to offer spares and service. In the absence of news to the contrary, there is, in short, no need for Guy operators to worry.
The company have suffered heavy trading losses over the past few years. Last year it incurred a loss of £444,684. No Ordinary dividend has been paid since 1958. Bank overdrafts at July 31. 1960, were £1,284,714.
London Busmen May Ban Overtime
From Our Industrial Correspondent ON DON TRANSPORT EXECUTIVE I--e face further industrial trouble from their busmen whose leaders are to seek permission from the executive committee of the Transport and General Workers' Union to ban all overtime and rest day working.
If such a ban were operated, London Transport estimate that about one bus in 20 would have to be taken off the road.
On the face of it the busmen's action is in protest against a further cut of one per cent, in scheduled services which is to come into force in the middle of next month when the winter timetables come into operation.
This, the busmen contend, would cot their earnings by reducing their overtime pay. But London Transport maintain this is not so.
The cuts, they insist, are merely paper cuts of services that are not being run anyhow because of shortage of staff. By eliminating them schedules could be rearranged to give a more even service to passengers.
At present the shortage of drivers and conductors—particularly of drivers-amounts to 10 per cent.
There is, however, another reason which may be behind the overtime move. The busmen's new wage claim already approved by the union executive is due to be presented to London Trans port shortly. It will be for higher wages time and a half for Saturday afternoor work and less week-end work.
In the present difficult atmosphen resulting from the Chancellor's wagei pause, the busmen may well feel tha extra pressure by way of an overtime ban might help them to get an earl] settlement.