but if he was on the original Heathrow Express in 1994 that makes it very interesting, particularly given what the Heathrow Express collapse did to London Underground’s approach to risk (I really must write the Jubilee Line Extension post one day). Without knowing which I’d be guessing, and if I’m going to do that I might as well guess about something interesting and just make up some exciting stuff. So as I have to do something, and it should involve risk, I’ll merely note that the biggest punishment on Balfour Beatty wasn’t the fine (£1.3 million, even in the 1990s, wasn’t that much to a big civil engineering contractor) or the damaged reputation with clients it was insurance. Post the collapse (and post the JLE insurance fiasco) Balfour’s couldn’t get insurance for a tunnel job for love nor money for almost a decade. While they did finish out existing contracts they didn’t start a new job in tunnelling till the middle of this decade.
These market things what with their reputations and insurances.
Seem to work better than bureaucracies, don\’t they?