Regulatory Control of the Track Access Charges of Railtrack plc

Railtrack plc, floated in 1996, was the private sector owner of Britain's railway track, signals and stations. Its major source of revenue came from track access charges, which individual train operating companies (TOCs) paid for use of the infrastructure. Since many of these TOCs received substantial subsidies to assist in paying their track access charges, Railtrack was in effect being heavily subsidised. In October 2001, the Government decided that these arrangements were no longer viable and placed Railtrack into administration. This article explains how the level of indirect subsidies to Railtrack had become excessive, and raises crucial questions that need to be addressed in settling the future shape of the railway industry.     

Some 'real' problems of 'virtual' organisation

This paper presents an ethnographic study of organisational change in a retail bank considering issues surrounding the supposed emergence of the 'virtual organisation'. It outlines emerging problems in organisational work as a consequence of the shift toward 'virtuality' and questions the explanatory value of such theoretical stances.     

Contract compliance and equal opportunities

In 1983, the Greater London Council adopted a policy of 'Contract Compliance' designed to ensure that firms selling goods and services to the Council complied with its equal opportunity requirements. The initiative aroused wide interest and many other local authorities - 40 are known of to date - have been considering introducing such a policy. Although simple in essence, its execution can be complex and difficult. In April 1986, the Inner London Education Authority, a partner in the GLC policy, took over the Contract Compliance Unit following the GLCs abolition. Linda Smith explains the background to contract compliance, how the GLC, now ILEA, operates the policy; assesses its achievements and its significance and explores some of the lessons learnt in its three years of operation.     

WHAT WILL HAPPEN TO THE EURO?

The Stability Pact ‐ intended to make EMU governments run prudent budgets ‐ is losing its credibility. This article asks the question: what will happen if national debts start to rise again and some governments then have difficulty borrowing? It suggests that there will be calls for bailout, that the EU's political structures will not cope well with the resulting arguments over which countries will pay, and that the eventual and painful result will be a return to the principle that currencies and political areas coincide.     

THE LOCATION OF NONMETROPOLITAN HIGH-TECH INDUSTRIES: A Comparison of Regional Determinants

A study of the location of three classifications of high-tech industries in rural areas was undertaken using ordinary least squares, Tobit, and a two-step estimation procedure suggested by Heckman (1976). The results indicate that the location decision for high tech firms is influenced primarily by the county population, adjacency to an SMSA, and the expenditures on public infrastructure (exclusive of education expenditures). However, location near interstate highways was generally not a significant factor. Results were similar between branch and unit (single ownership) plants. Some differences in signs of orders of magnitude occurred among the estimation procedures. Making a choice between Tobit and Heckman approaches depends upon the goal of the research.