Jarvis shareholders accused chairman Steven Norris of arrogance and presiding over a 'multi-faceted shambles' at the contractor's annual meeting last week. The company announced that there was to be further cost cutting and that it would now concentrate on British road and rail operations. Alan Lovell, former chief executive of sports firm Dunlop Slazenger, was appointed chief executive.
Chief executive of rail operator GNER Christopher Garnett has warned that the current generation of Intercity 125s will not last beyond 2008 and are at risk of 'multiple failures'.
Experts say it could take 10 years to deliver replacement models.