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Joined 2 years ago
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Cake day: July 1st, 2023

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  • Severn Trent Water

    The complex accounting trick started in March 2017 when a shell company, with no money or assets, called Severn Trent Trimpley was set up as part of the group. Another Severn Trent company called Severn Trent Draycote - which owns the water company - agreed to buy Trimpley for £2.

    Trimpley then issued additional shares and Draycote bought them for a staggering £3bn.

    No money actually changed hands, however, as Draycote paid Trimpley with a £3bn loan note - effectively an IOU. But, on paper, Trimpley immediately appeared to be worth £3bn because it had the IOU.

    Severn Trent Water then acquired 49% of Trimpley - and that investment was valued in the water company’s accounts at £1.47bn. A hugely valuable asset appears to have been created for Severn Trent Water out of thin air.

    Panorama discovered the Trimpley investment through the work of retired auditor Stanley Root.










  • CRM is “customer relationship management” i.e. a system to manage interactions with customers such as tracking calls, marketing emails and collateral, meetings, quoting, support tickets, and more. It tracks the lifecycle/pipeline of a sale from prospecting, lead qualification and solution mapping, demos and meetings, proposals, negotiations and commitment, opportunity win/loss, license generation, onboarding, renewals, and a ridiculously huge number of other things.

    It’s not just tracking the numbers but giving you a centralised system that all other business operations can hook into so you’ve a single source of truth about customer state so that various other operations can be triggered.

    When you’ve hundreds of sales people, numerous systems, marketing people, support teams, and more all reading and writing to the same CRM system, if that “system” was a spreadsheet, you’d be constantly deadlocking and race conditioning the hell out of it, not to mention how absurdly huge that file would become with all that historical data (since a big part of CRM is also projections and other analyses across all the data you have).