The Kiwirail black hole

Bronwyn Howell writes:

KiwiRail is a state-owned enterprise, and so by law its principal objective is “to operate as a successful business”.1 Success in the business world means that you provide something that your customers are willing to pay for, at a price for that exceeds your cost of production, leaving something to reward your owners/investors for the resources they have committed. 

Something all the other SOEs have managed.

That is a very powerful graph.