Two major stories in the news today - Boris Johnson's leap into the Conservative Mayoral race, and more on the Metronet crisis: Ernst & Young lined up to run Underground fim Metronet if it goes bust
"Transport for London (TfL) has lined up accountants Ernst & Young to take over the running of Metronet if the troubled Tube contractor slips into administration, according to reports.
"London mayor Ken Livingstone is making contingency plans, including the appointment of an administrator to keep the London Underground running if Metronet goes bust, after a regulator yesterday refused the company's request for a £551m emergency cash injection, the Guardian reported.
"The mayor's transport officials yesterday said they expect administration imminently, the newspaper said. A Metronet spokeswoman last night declined to comment, but said it is likely to make an announcement today or later this week." [from Hemscott]
Boris Stands for Mayor
"[Boris] describes the many strengths of London, calling it "a cosmopolis, a world within a city" and saying "it has become a cliché to say that London is the greatest city on earth, but having visited every conceivable rival I have no doubt that it is true."
"The key planks of the Johnson campaign can be seen in the article: crime, congestion, public transport, housing and bendy buses. Not dissimilar from his fellow candidates for the Conservative nomination, but of course it is not in his policies that Boris will stand out!" [from Conservative Home]
"Win or lose, Boris Johnson has done London a great service. By throwing his hat in the ring to be Conservative candidate in next year's mayoral race, he has guaranteed the capital the electoral fireworks display it deserves, instead of another shoo-in for Ken Livingstone's coalition of the disgruntled.
"For London is more than just a big city with its share of the big-city issues that demand Livingstone's relentless, downbeat pursuit of inequalities. Despite its rough edges, London is the most sophisticated, most entertaining, most congenial big city in the world. It calls for sophisticated, upbeat - even joyful - leadership, all of which Boris can offer in spades, as well as driving energy. More challenging for our easily distracted colleague, it also calls for statesmanlike vision and focus - not least because London now has the characteristics of a fully fledged 21st-century city state." [from the Telegraph]