History
The Great Western name was derived from that of the Great Western Railway which served a similar, but larger, area prior to nationalisation of Britain's railways in 1948. The Great Western franchise was awarded to Great Western Holdings whose shares were held by Richard George, Brian Scott and some other British Rail managers (51%), FirstBus (24.5%) and 3i (24.5%).
In March 1998 FirstGroup bought the remaining 75.5% of shares it did not own to give it 100% ownership. The Great Western franchise was due to run for a maximum of ten years, during which time public subsidy was scheduled to reduce from over £61 million annually to just under £27 million.
Read more about this topic: Great Western Trains
Famous quotes containing the word history:
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)
“I am ashamed to see what a shallow village tale our so-called History is. How many times must we say Rome, and Paris, and Constantinople! What does Rome know of rat and lizard? What are Olympiads and Consulates to these neighboring systems of being? Nay, what food or experience or succor have they for the Esquimaux seal-hunter, or the Kanaka in his canoe, for the fisherman, the stevedore, the porter?”
—Ralph Waldo Emerson (1803–1882)
“As I am, so shall I associate, and so shall I act; Caesar’s history will paint out Caesar.”
—Ralph Waldo Emerson (1803–1882)