Two join buyout trend
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• Two of the latest municipal operators to consider management buyouts are Lancashirebased Rossendale Transport and Preston Borough Transport.
At Preston, managing director 'ram Ha!don says that the company has had discussions with the staff, but "there are no firm plans as yet." The council has confirmed that it will listen to bids, hut Haldon states he wants to make sure that "we get our act together internally first." Job security for the workforce is top priority. he says. Preston has a fleet of 135 buses and minibuses.
At Rossendale, financial director David Packwood says that a bid was some months away. Rossendale has a fleet of 70 vehicles.
Councillor David Eaton, chairman of the board of Rossendale, says: "It is the aim of the board to make the best arrangement for our customers, the travelling public, and our employees, whilst recognising the interests of Rossendale Borough Council as shareholder." The joint trade union committee at Rossendale says it is "interested", and "will examine any alternatives that will give the employees a shareholding and a say in the running of their company."
In both cases it appears that managements are moving in with their own bids to forestall compulsory privatisation.