Harringay, Haringey - So Good they Spelt it Twice!
Streetcar throws in the towel as whispers about Haringey cabinet intent to charge them for parking their cars come true! (Spoof*)
Streetcar has decided to take their money and run, when the news of Haringey decision to charge them for parking their cars. Streetcar bosses confessed “dealing with Anti-competition watchdog was easier then dealing with Haringey transport bosses.”
According to the Telegraph Streetcar founders are to net £11m from the sale, don’t you feel sorry for them? But hey we can take comfort knowing that our council tax has been subsidising their business for a few years.
On the up side we can all sleep well from now on, knowing that our CPZ permits have been officially doubled and will help raising the annual parking surplus from £3,000,000 to unknown new heights.
Hope this news made you smile. Read the ‘real news’ on Haringey decision and the latest press on our website http://www.GreenN8.org
Best Wishes
----------------------------------------------------------------------------------------
GreenN8 C o m m u n i t y G r o u p | http://www.GreenN8.org
| http://twitter.com/GreenN8
| https://www.youtube.com/GreenN8TV
Zipcar takes the fast lane with Streetcar acquisition
============================================================
Anti-competition watchdog provisionally allows UK's two biggest car clubs to merge
By Jessica Shankleman
18 Nov 2010
An acquisition that will combine the UK's two biggest car clubs has been
provisionally approved by the anti-competition regulator based on its
expectation that the market for car-sharing schemes will continue to grow
rapidly.
The UK's Competition Commission (CC) today confirmed
/pdf/38_10_zipcar_streetcar_pf.pdf> that it believes the sale of Streetcar,
the largest car club in London, to Zipcar, the second largest, is not
anti-competitive because other companies are likely to enter the market in
the coming years.
The booming car club market would therefore offset any chance of the
Zipcar/Streetcar merged company being able to raise prices or reduce its
services to customers, it said.
Zipcar first announced
http://www.businessgreen.com/bg/news/1807090/zipcar-snaps-streetcar...
car-club-powerhouse> it had bought Streetcar in April, but the Office of
Fair Trading subsequently referred the sale to the CC to decide whether it
would substantially reduce competition in the market.
The CC inquiry has provisionally concluded that new and expanding companies
will stop the expanded Zipcar from exploiting its market position. However,
t has asked interested parties to comment on its findings with an eye to
issuing a final report in January.
"This is a carefully weighed decision but the evidence we have seen of
credible expansion by existing players and plans by new entrants into this
market means that we have provisionally concluded that the right answer in
this case is to clear the merger," said chairman of the Zipcar/Streetcar
inquiry group Peter Davis.
"Industry estimates have car club membership numbers increasing eight-fold
over the next decade so this is a fast-growing and therefore potentially
attractive market for new and expanding providers, particularly in London,"
he added.
If approved in the final report, the deal could significantly bolster the
appeal of the car club model in the UK giving customers of both companies
access to an increased number of vehicles. The deal is also expected to act
as a springboard for the firm's planned expansion across Europe.
Scott Griffith, Zipcar chairman and chief executive, said he was pleased
with the findings, which represented an important milestone in the
regulatory review process.
"The companies are now a step closer to delivering important benefits to
both Zipcar and Streetcar members, including access to more cars in more
locations, a wider selection of vehicle makes and models, and improved
service levels," he said in a statement
.
"Streetcar members will benefit from being a part of a global car sharing
network by using their membership in cities around the world where Zipcar
already has a presence."
Zipcar claims to be the world's leading car club with more than 500,000
members and 8,000 vehicles throughout the US, Canada and the UK.
Streetcar founders to net £11m from sale
==========================================
http://www.telegraph.co.uk/finance/newsbysector/transport/7621904/S...
Two university friends will net in the region of £11m after the UK’s largest car sharing group Streetcar was sold to US rival Zipcar.
Zipcar, the largest car hire group in the world with 360,000 members, will pay around $50m (£32.5m) in company stock to acquire Streetcar, of which Andrew Valentine and Brett Akker still own a third.
Mr Valentine and Mr Akker founded Streetcar in 2004 and have established a fleet of 1,400 cars across eight British cities, including London.
They met at university before taking on senior roles at P&O, the ferry group, and Mars, the confectioner, respectively.
[*Note from Site Admin: We've added the short explanation to the title at the request of Streetcar since apparently this post is being returned in Google results and the company is concerned that no misunderstanding results. We're happy to oblige.]
According to the Telegraph Streetcar founders are to net £11m from the sale, don’t you feel sorry for them? But hey we can take comfort knowing that our council tax has been subsidising their business for a few years.
On the up side we can all sleep well from now on, knowing that our CPZ permits have been officially doubled and will help raising the annual parking surplus from £3,000,000 to unknown new heights.
Hope this news made you smile. Read the ‘real news’ on Haringey decision and the latest press on our website http://www.GreenN8.org
Best Wishes
----------------------------------------------------------------------------------------
GreenN8 C o m m u n i t y G r o u p | http://www.GreenN8.org
| http://twitter.com/GreenN8
| https://www.youtube.com/GreenN8TV
Zipcar takes the fast lane with Streetcar acquisition
============================================================
Anti-competition watchdog provisionally allows UK's two biggest car clubs to merge
By Jessica Shankleman
18 Nov 2010
An acquisition that will combine the UK's two biggest car clubs has been
provisionally approved by the anti-competition regulator based on its
expectation that the market for car-sharing schemes will continue to grow
rapidly.
The UK's Competition Commission (CC) today confirmed
/pdf/38_10_zipcar_streetcar_pf.pdf> that it believes the sale of Streetcar,
the largest car club in London, to Zipcar, the second largest, is not
anti-competitive because other companies are likely to enter the market in
the coming years.
The booming car club market would therefore offset any chance of the
Zipcar/Streetcar merged company being able to raise prices or reduce its
services to customers, it said.
Zipcar first announced
http://www.businessgreen.com/bg/news/1807090/zipcar-snaps-streetcar...
car-club-powerhouse> it had bought Streetcar in April, but the Office of
Fair Trading subsequently referred the sale to the CC to decide whether it
would substantially reduce competition in the market.
The CC inquiry has provisionally concluded that new and expanding companies
will stop the expanded Zipcar from exploiting its market position. However,
t has asked interested parties to comment on its findings with an eye to
issuing a final report in January.
"This is a carefully weighed decision but the evidence we have seen of
credible expansion by existing players and plans by new entrants into this
market means that we have provisionally concluded that the right answer in
this case is to clear the merger," said chairman of the Zipcar/Streetcar
inquiry group Peter Davis.
"Industry estimates have car club membership numbers increasing eight-fold
over the next decade so this is a fast-growing and therefore potentially
attractive market for new and expanding providers, particularly in London,"
he added.
If approved in the final report, the deal could significantly bolster the
appeal of the car club model in the UK giving customers of both companies
access to an increased number of vehicles. The deal is also expected to act
as a springboard for the firm's planned expansion across Europe.
Scott Griffith, Zipcar chairman and chief executive, said he was pleased
with the findings, which represented an important milestone in the
regulatory review process.
"The companies are now a step closer to delivering important benefits to
both Zipcar and Streetcar members, including access to more cars in more
locations, a wider selection of vehicle makes and models, and improved
service levels," he said in a statement
.
"Streetcar members will benefit from being a part of a global car sharing
network by using their membership in cities around the world where Zipcar
already has a presence."
Zipcar claims to be the world's leading car club with more than 500,000
members and 8,000 vehicles throughout the US, Canada and the UK.
Streetcar founders to net £11m from sale
==========================================
http://www.telegraph.co.uk/finance/newsbysector/transport/7621904/S...
Two university friends will net in the region of £11m after the UK’s largest car sharing group Streetcar was sold to US rival Zipcar.
Zipcar, the largest car hire group in the world with 360,000 members, will pay around $50m (£32.5m) in company stock to acquire Streetcar, of which Andrew Valentine and Brett Akker still own a third.
Mr Valentine and Mr Akker founded Streetcar in 2004 and have established a fleet of 1,400 cars across eight British cities, including London.
They met at university before taking on senior roles at P&O, the ferry group, and Mars, the confectioner, respectively.
[*Note from Site Admin: We've added the short explanation to the title at the request of Streetcar since apparently this post is being returned in Google results and the company is concerned that no misunderstanding results. We're happy to oblige.]
Tags for Forum Posts: CPZ, Parking, StreetCar, car sharing
Replies to This Discussion
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Permalink Reply by GN8 on
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As far as I remember,
Smedvig is the majority share holder and appointed Sir Trevor Chinn, Chairman because he was an adviser to the Mayor of London.
Again this is 2 years old info, things may have changes since.
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Permalink Reply by Clive Carter on
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GN8: I believe you're looking for some kind of conspiracy here where none exists. What is being suggested or alleged? Is there anything to suggest that the investment in Streetcar by Smedvig Capital is anything other than a straightforward financial investment, like any other? Even if they saw some synergy with other investments they might have (which I doubt), so what?
In response to all this detail about Smedvig Capital, I have to say from the point of view of potential users of the service in Haringey: And?!
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Clive, of course you are entitled to BELIEVE anything you want, however I rather deal with the FACTS! I collated some facts about those involved in this business and share what I found. Now it's up to each individual to draw their own conclusion.
My personal conclusions are:
* An unhealthy swivel door between business and government is demonstrated.
* As a result a business which clearly does not need any subsidy, get millions of our tax money to grow and spread.
* This is then sold to the public as A GREEN BUSINESS to justify this subsidy, while the money it makes is used to perpetuated the use of fossil fuel. In other words we through our tax and participation help to fund more of what we led to believe we want to avoid.
Those are the facts. I rather know the facts before I pledge my support for something, others may prefer 'ignorance is bliss' approach, (sometimes I wish I could revert, but I am afraid there is no going back for me.)
When I first looked into this, I asked myself - WHAT TYPE CARS DO THEY OFFER FOR RENT? I was surprised there was no electric or hi bread cars on offer and no intention to use those in future. You would think that since their business is aimed at the local short car journey, that small electric cars would be idle. (although I am not convinced those are greener...) I even suggested - Streetcar could contribute back by funding charging points for electric cars in Haringey...
So no, I was not looking to find a conspiracy, nonetheless I would not call what I did find a 'conspiracy' nor 'green', I would call it GREED and dishonesty, but then again what's new...
P.S. Clive, I heard you personally know some of the Streetcar share holders? Is that true?
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Ofer I would be proud to count an original Streetcar shareholder as someone I know (especially since they've demonstrated excellent business acumen and are now cashed up!) Unfortunately I don't know any of them. Even if I knew one of these – in your eyes – devils, it would be irrelevant.
It is good to deal in facts. I was fascinated that you copied and pasted:
[Sir Trevor Chin's] philanthropic leadership roles included Chief Barker of the Variety Club of Great Britain for 2 successive terms (1977 and 1978)
but I thought it was a light on detail. Could we have better granularity on the role the Chief Barker? It is a fact I had porridge this morning for breakfast, but it is neither relevant nor interesting to anyone else.
I disapprove of the phenomenon of the revolving door, but I don't think S.C. is demonstrated as an example of it.
Unfortunately, most cars still run on oil derivatives and I don't think electric cars are practical yet. If S.C. offered them, I would not regard them as an adequate substitute for the petrol-burning car I've recently sold.
Cars are not "green". But surely some forms of car use are less brown than others?
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Permalink Reply by John McMullan on
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Clive, the worst thing about our cars (IMHO) is that they sit outside our houses clogging up the street when we're not using them. In this respect a car club is fantastically 'green'.
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Agree. I look out the window and see roads full of idle capital assets depreciating strongly and the fact is that most of them are used a small fraction out of 24/7. That depreciation (normally the biggest expense that most people ignore) is before we take into account the overheads of car ownership:
• insurance
• car tax
• MOT, repairs & maintenance
• CPZ charges (increasingly)
If you use a car little, you are likely to be better off sharing the overheads than incurring the overheads individually.
The council and the authorities are right to encourage and promote this scheme for car sharing. I for one have no problem that this is a commercial scheme; indeed that lends it credibility.
Car clubs are not merely greener than current alternatives, they make financial sense.
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Clive, for some reason I seem to have touched a raw nerve? Why does it matter to you so much what I think...
You say - "in my eyes – they are devils" I don't know where you got this from? I don't! I have no problem with business making lots of money, even if it is from oil exploration.
I do have a problem when public money is used to fund it and promote it as green to justify doing so!
There is also no need to rubbish other people's views to validate your own, as far as I am concerned we don't have to agree about everything...
For the record I think CAR SHARING IS A GOOD IDEA IN PRINCIPLE! This is not and never was in dispute. In fact 2 years ago, when this was on the cards I posed the question: If a group of private individuals created a local 'car share' club would Haringey give them priority parking by assigning them dedicate parking bays for free as they did for Streetcar?
Don't need to be a genius to know what the answer was...
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Ofer I'm surprised you raised the question about knowing Streetcar investors since I have no interest in S.C. apart from as a potential customer. Do you accept that you have been misinformed when you assert that I personally know some of the Streetcar share holders? Is that true?
To me this seemed like an accusation. To answer your question directly, it is not true, but if it were true it should make no difference. I know you're keen on conspiracies, but if there is one in connection with Streetcar, I'm afraid I'm not part of it!
Public money is often used to support fledgling schemes. Once the concept is well-established, no public support will be needed. That the original promoters made money from it is testimony to the good and valuable idea that it was and the professional execution. This last point is I think important. If the scheme were controlled and directed by the local council, few people would have confidence in it.
If it were a scheme funded and "created" by local people, AKA an amateur Michael Mouse scheme, possibly even fewer people would have confidence in it. I think you underestimate the level of investment, administration and organisation goes into a successful commercial operation that offers a good service.
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Clive, I Met Catrina last night (a mutual friend) when I told her about this thread, she said you once told her you knew the guys from Streetcar.
I did not accuse you of anything, I was simply asking you straight up to confirm or deny the rumour. You answered that you didn't 2 posts up, and I accepted it to be your truth, of course I did!
As we are mentioning Cat she also told me of her own experience of StreetCar: "I tried to join StreetCar but am not eligible because I had points on my driving license about 20 years or more ago!!"
If true, it seems a bit unforgiving...
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Hi Ofer: I'm afraid Catrina is mistaken. I probably told her I had a friend in West Kensington who has been a member (i.e. a customer) of Streetcar for some time and he had spoken highly of it, enabling him to get rid of his car. If I join Streetcar, it will be via him and each of us will get the £20 bonus applicable to the end of the year
With Streetcar, the annual fee of I think £60 needs to cover insurance since this is not charged for separately (another advantage of sharing costs). This needs to kept to a reasonable level (I think its okay to discuss Streetcar's entry standards in general, but it might be better to avoid discussion of third party's driving histories in a public forum.)
I hope you did not think the 'rumour' was an ugly rumour! I only wish I did know the clever guys who began Streetcar.
I know you have done excellent and valuable research into parking services in Haringey. When the CPZ creeps north to reach you as it is pressing in on me, I hope you will accept an introduction membership from me to Streetcar and we may both be happier!
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Permalink Reply by Pressdesk at Haringey Council on
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A spokesman for Haringey Council said: “Spoof or no spoof, the suggestion is simply wrong – it’s not a case of anyone cutting and running.
“We have worked closely and very successfully with Streetcar for a number of years. In fact we’re looking to increase the number of vehicles available in the borough through this scheme.
“People who have joined the scheme may not have read through the thread of comments to see that it was meant as a spoof. We would just like to point out that the scheme will continue.”
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